In uncertain times financial fitness can seem an unattainable goal. With company lay-offs, a high unemployment rate, and an uncertain market it can be difficult to think about the future when energy is being directed into making sure the mortgage is paid along with the car payments and sometimes just getting food on the table. Though according to Williams Lake branch Royal Bank Mutual Funds Representative Judy Robinson, it is never a bad time to start saving money,and the sooner one can get into the habit of paying themselves, the better.
Financial building basics
For someone who is just getting started, such as a young adult coming out of school, very often they will have student loan debt. "One of the things is to make sure you stay on top of that because it does affect your credit rating if it falls behind," says Robinson of the sometimes staggering educational costs. "The thing is, while in school, while working, is to not get themselves into so much debt. It's all well and good to have a credit card, but the big thing is to maintain control on the spending on it. Don't spend outside of what you are making."
Credit Card Hazards
It is a fairly common practice to have a number of credit cards on the go, and in uncertain times the ease of use makes the credit card a dangerous ally.
