important lessons in finacial lit. by. sakai coleman

1. start paying more attentions to your pay stub because it has all the information that you need on there like how much money they took of for taxes. and your net pay

2. if you are working overtime a best way to calculate how much more you are getting paid and how much money extra youll get when your paycheck is if If you work overtime and get paid by the hour… the way you can calculate how much you earned is by doing how much you normally work divide that by your hourly wage… divide that by two… add the overtime rate to that… times it by the overtime hours you had worked… then add that to your normal earnings.

3. then the next thing that´ll be coming up would be your taxes and there are many different forms for them. w4- what you get when you start a new job. w2- a form that shows how much money you make and then also the form 1099 is if you have another source of income(a second job basically. and the 1040Ez is for when you actually go to file your taxes and it shows you if you owe or get money back

4. also each month you should set up a budget so you wont go way over your limit. each month you should tweak it around just a little bit so it can fit, and the budget difference should be at 0 each time. this is good so that you can live within your means of income and dont have to worry about making ends meet.

5. the next thing you should start doing is saving, they can really help you in a long run, like when your budgeting you should always set money aside every month to go into your savings account. also save up for 6 months i emergency money because you never know what would happen

6. when you do start to save as you get older put some money into the stocks, even though that is a high risk that it can go down itll be worth it in the long run.

7. if you start saving later on in the years invest in some bonds because its a smaller risk that anything would go wrong, but itll also be a good idea to invest into stocks and bonds at the same time so you can get more money.

8. when you put your money into a savings account make sure you look for the one with the best interest which would be the CD account if you dont mind waiting for a longer period of time to get your money out. itll benefit because the longer and more money you put into the account you will get a lot more back

9. tax day is April 15th ad thats the day when you give your tax history to the goverment to get your tax return, but if you wait until janurary 1st to turn in your taxes because itll be more complicated

10. and the highest paying job wouldn´t always be the best job ever because they might not give you all benefits that youll need like healthcare and insurance then when you do get into an accident youll have to pay the full fee out of our pocket. so always look for a job thatll give you good benefits to make life easier for you

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