Comments on: Four Basic Steps To Jump Start Your Financial Future http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/ Personal Finance Beyond Credit Cards and Balance Transfers Wed, 07 Jan 2009 01:19:00 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Sherin http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-19679 Sherin Wed, 02 Jul 2008 16:30:29 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-19679 That a thought. Excellent presentation and you are really appreciated on this fantastic article. Well done !!! That a thought. Excellent presentation and you are really appreciated on this fantastic article. Well done !!!

]]> By: Personal Finance Blogosphere Best of 2007 | Moolanomy http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-2051 Personal Finance Blogosphere Best of 2007 | Moolanomy Tue, 15 Jan 2008 14:07:35 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-2051 [...] Four Basic Steps To Jump Start Your Financial Future @ Money Blue Book “To give my newbie friend the spark he needed to start his way towards fiscal growth and responsibility, I provided the following basic tips: (1) Pay Off High Interest Credit Card Debt As Soon As Possible; (2) Open a High Interest Savings or Money Market Account; (3) Open a Roth Investment Retirement Account (Roth IRA); and (4) If You Are Financially Responsible, Stop Using Credit Cards That Offer You Nothing - Use Reward Credit Cards Instead” [...] [...] Four Basic Steps To Jump Start Your Financial Future @ Money Blue Book “To give my newbie friend the spark he needed to start his way towards fiscal growth and responsibility, I provided the following basic tips: (1) Pay Off High Interest Credit Card Debt As Soon As Possible; (2) Open a High Interest Savings or Money Market Account; (3) Open a Roth Investment Retirement Account (Roth IRA); and (4) If You Are Financially Responsible, Stop Using Credit Cards That Offer You Nothing - Use Reward Credit Cards Instead” [...]

]]> By: Carnival of Financial Goals #2 - A Walk With Sam | beingfrugal.net http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-1616 Carnival of Financial Goals #2 - A Walk With Sam | beingfrugal.net Fri, 04 Jan 2008 10:12:04 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-1616 [...] shows you four basic steps to jump start your financial future at Money Blue Book. I did a dance to Jingle Bells with four basic steps for my Christmas [...] [...] shows you four basic steps to jump start your financial future at Money Blue Book. I did a dance to Jingle Bells with four basic steps for my Christmas [...]

]]> By: The Honest Dollar | Resolutions, Goals: Whatever You Call Them, Set Them! http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-1481 The Honest Dollar | Resolutions, Goals: Whatever You Call Them, Set Them! Tue, 01 Jan 2008 02:17:56 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-1481 [...] "Four Basic Steps To Jump Start Your Financial Future" at Money Blue Book. Raymond's advice is clearly stated and very important to anyone taking first steps towards smart money management. [...] [...] “Four Basic Steps To Jump Start Your Financial Future” at Money Blue Book. Raymond’s advice is clearly stated and very important to anyone taking first steps towards smart money management. [...]

]]> By: The Best Finance Practices, Ways To Kick Start Your Financial Future @ My Carnival Picks http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-1030 The Best Finance Practices, Ways To Kick Start Your Financial Future @ My Carnival Picks Wed, 19 Dec 2007 16:00:13 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-1030 [...] Four Basic Steps To Jump Start Your Financial Future @ My Money Blue Book [...] [...] Four Basic Steps To Jump Start Your Financial Future @ My Money Blue Book [...]

]]> By: Carnival of Personal Finance - the second last one for the year - Father sez http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-965 Carnival of Personal Finance - the second last one for the year - Father sez Tue, 18 Dec 2007 04:43:22 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-965 [...] 4 basic steps to jump start your financial future. [...] [...] 4 basic steps to jump start your financial future. [...]

]]> By: Weekly Roundup #8 (December 8, 2007) - My Investing Blog http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-908 Weekly Roundup #8 (December 8, 2007) - My Investing Blog Sat, 15 Dec 2007 19:32:25 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-908 [...] and worst financial decision made in their realm. 3. MoneyBlueBook gives some pretty decent tips on jumpstarting your financial future. 4. PersonaFinanceMGuides lets us know the perils of divorce financially. Worth investigating if [...] [...] and worst financial decision made in their realm. 3. MoneyBlueBook gives some pretty decent tips on jumpstarting your financial future. 4. PersonaFinanceMGuides lets us know the perils of divorce financially. Worth investigating if [...]

]]> By: Philip Brewer http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-875 Philip Brewer Fri, 14 Dec 2007 00:49:53 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-875 It's not necessarily that hard to come up with some earned income. Basically, you just have to get someone to pay you for doing something. It may be hard to find someone who will pay you enough to support yourself, but just earning a few hundred (even a few thousand) dollars doesn't have to be that hard. Find some contract work. Find some seasonal work. Work in a family business, if any family members have one. Talk to people in your department and explain the rules about Roths, and see if anyone has any work that needs doing that they'd be willing to pay you for. (Maybe they'll pay you a small amount to write grant proposals, with an understanding that they'll hire you if the grant gets funded.) Worst case (because you need to be careful to dot your Is and cross your Ts), if there are any relatives that are giving you money, arrange for them to pay you instead. Be sure to actually do a reasonable amount of work for the money (and document the work that was done), to cover everyone with regard to the tax man, but it's legal as long as the pay is for work. It’s not necessarily that hard to come up with some earned income. Basically, you just have to get someone to pay you for doing something.

It may be hard to find someone who will pay you enough to support yourself, but just earning a few hundred (even a few thousand) dollars doesn’t have to be that hard. Find some contract work. Find some seasonal work. Work in a family business, if any family members have one. Talk to people in your department and explain the rules about Roths, and see if anyone has any work that needs doing that they’d be willing to pay you for. (Maybe they’ll pay you a small amount to write grant proposals, with an understanding that they’ll hire you if the grant gets funded.)

Worst case (because you need to be careful to dot your Is and cross your Ts), if there are any relatives that are giving you money, arrange for them to pay you instead. Be sure to actually do a reasonable amount of work for the money (and document the work that was done), to cover everyone with regard to the tax man, but it’s legal as long as the pay is for work.

]]> By: Please-Don’t-Let-It-Be-Gray Thursday Roundup | Mrs. Micah: Finance for a Freelance Life http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-872 Please-Don’t-Let-It-Be-Gray Thursday Roundup | Mrs. Micah: Finance for a Freelance Life Thu, 13 Dec 2007 19:04:59 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-872 [...] Raymond at Money Blue Book has some ideas for cards students can get to help build good credit. To be used responsibly, of course! He also has a nice little fundamentals post on starting to get your financial house in order. [...] [...] Raymond at Money Blue Book has some ideas for cards students can get to help build good credit. To be used responsibly, of course! He also has a nice little fundamentals post on starting to get your financial house in order. [...]

]]> By: Raymond http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-859 Raymond Thu, 13 Dec 2007 06:43:31 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-859 Yes that is quite an unfortunate earned income predicament. I presume you're not married because if you were you could still contribute to a Roth if the couple filed jointly (assuming the other spouse had earned income). Unfortunately if you don't have the requisite earned income, you can't contribute to a Roth. I would recommend just putting the money in a savings account or investing it wisely - to get that compound interest started. At the very least I am glad that you are actually thinking about saving for the future so early in your life. Good job! Yes that is quite an unfortunate earned income predicament. I presume you’re not married because if you were you could still contribute to a Roth if the couple filed jointly (assuming the other spouse had earned income).

Unfortunately if you don’t have the requisite earned income, you can’t contribute to a Roth. I would recommend just putting the money in a savings account or investing it wisely - to get that compound interest started.

At the very least I am glad that you are actually thinking about saving for the future so early in your life. Good job!

]]> By: E.C. http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/comment-page-1/#comment-858 E.C. Thu, 13 Dec 2007 05:07:31 +0000 http://www.moneybluebook.com/four-basic-steps-to-jump-start-your-financial-future/#comment-858 What would you recommend for those of us who've diligently followed the other three steps but are not yet eligible for step 3? There are some quirky rules that mean that fellowships don't count as earned income, even though they may well expect you to spend X hours a week doing a specific task to get the money. It's supposed to be an advantage by saving us from having to pay FICA taxes, but it's kind of a drag when it comes to saving for retirement. What would you recommend for those of us who’ve diligently followed the other three steps but are not yet eligible for step 3? There are some quirky rules that mean that fellowships don’t count as earned income, even though they may well expect you to spend X hours a week doing a specific task to get the money. It’s supposed to be an advantage by saving us from having to pay FICA taxes, but it’s kind of a drag when it comes to saving for retirement.

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