8 Financial Tips for Young Adults

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FACULTY OF MANAGEMENT ADVANCED MANAGEMENT ENGLISH BAE 1024 CRITICAL ANALYSIS TRIMESTER 2 NAME : ID : LECTURER : MR. RAJANDARAN PERUMAL SECTION : BC 251 The article “8 Financial Tips For Young Adults “ was written by Amy Fontinelle, a financial journalist and editor of websites, public policy organizations and books publishers. The author has written the definition of several hundred financial terms for Investopedia’s online dictionary as well as in depth tutorials on budgeting, banking and home buying. In addition, Amy Fontinelle has extensive experience editing corporate documents, public policy papers and articles,…show more content…
Amy has presented clearly the advantages of having emergency fund to support her main point in the statements of “Having money in savings to use for emergencies can really keep out trouble financially and help you sleep better at night.” and “Also, if you get into a habit of saving money and treating it as non-negotiable monthly “expense”, pretty soon you’ll have more than just emergency money saved up: you’ll have retirement money, vacation money and even money for a home down payment”. On the other hand, the author mentioned saving account, certificate of deposits and money market account in her article. I found the fact is, according to Jeremy Vohwinkle, “In order to build an emergency fund, but where you should keep your savings so that it earns the higher interest for you”. Employees may have many choices in the retirement plans. The statement “Because of the way compound interest works, the sooner you start saving, the less principal you’ll have to invest end up with the amount you need to retire, and the sooner you’ll be able to call working an “option” rather than a “necessity”, is the main reason to start saving for retirement now and do not leave the retirement plans behind. According to Loral Langemeier, “Put the money in an account to gain more compound interest. I completely agree that the best way to ensure our future financial success is to start saving for
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