4 Baby Steps
By Creed Sharpee
Just in case of an emergency
Once you turn 18, and get your first house, you need to have a game plan. First, you need to put $1000 in an emergency fund (500 if you make 20,000 or less every year). This will help if you have a true emergency not just "Oh man I forgot the Christmas presents good thing I have an emergency fund." Also make sure to put it in a money market even if it doesn't earn to much money it doesn't lose anything either.
debt is not a good thing
If you have debt you need to pay it all off using the debt snowball. you should start with the smallest amount and work your way up until it is all payed off.
Finishing Up The Emergency Fund
Now you need to finish up your emergency fund by adding 3-6 months of expenses. Most emergency's won't be less than $1000.
Baby Step 1
You or someone in your family may drown and you need money to help them.
Baby Step 2
You need to focus on paying off your debt and nothing else.
Baby Step 3
If you or someone in your family gets in an accident you need money for the hospital bills so you don't go back into debt