Category Archives: Expert Financial Advice

Brad Reifler’s Expert Financial Advice For Young Adults

Brad Reifler is considered a serial entrepreneur. He has founded three successful companies, became a star commodities trader at Refco, and served as a director for Sino Mercury Company, Genesis Securities, European American Investment Bank, and Foresight Research Solutions.

Recently, Brad Reifler wrote a contributor’s article for The Huffington Post that focused on the financial habits of successful young adults.

Budget                    

Budgets aren’t just for governments and businesses. Budgets are paramount when we’re planning for our futures and trying to avoid insurmountable amounts of debt. Every person needs to understand how much income they have, how much of that income they’ll have to spend, and how much will be leftover to put into savings. A proper budget protects us from overspending and helps us prepare for the future.

You Get Paid Less Than You Earn

In the age of technology, most of us take advantage of the convenience of direct deposit and online banking. If you’ve never looked at your pay stub, it’s easy to forget that taxes, health insurance, social security, and 401K payments are all withheld from your paycheck. For example, if you earn $400 in a week it’s likely that your take-home pay will be less than $300.

Good Credit Is Essential

Having good credit is necessary if you ever plan to purchase a home or car. Your credit can also affect the cost of utilities and your car insurance payments. Depending on your profession, some employers will check your credit score before hiring you. Paying your rent on time and applying for a credit card with a low credit limit can be a great way to start a positive credit history.

Paying For College

Keep in mind that a degree from a public university or community college is still a degree. If you’re paying for college on your own, Ivy League universities may not be a reality.