John Kane
@jkane80
8 steps to reaching financial independence Living on your own creates a whole new level of responsibility. These tips can help you handle the job. 1)Step 1: Get your own bank account Having a personal checking account allows you to pay bills online or via paper checks. The account can also help you manage your spending. By setting up automatic payments for recurring bills and account alerts, you can help guard against overdrafts, unusual activity and fraud. 2)step 2:Step 2: Create your own budget framework for how you spend, not a reminder of how much you can’t spend 3)Step 3: Make a plan to pay off student loans It generally takes between 10 years and 30 years to pay off a student loan balance, depending on the loan’s interest rate, total balance, your annual income and your repayment plan.
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John Kane
@jkane80
4)Step 4: Begin building your credit good credit score can help you with renting an apartment, landing a job, getting favorable loan rates and a lot more. Because a longer credit history generally works in your favor, it’s good to start building credit early. Ideally, you want to have your own card so that you can control purchases and payments. 5)Step 5: Save up for rent If you’re not paying rent yet, a good way to prepare for that moment is to deposit into a savings account whatever amount you estimate you’ll pay each month.
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