Dear Chi Omega collegians:
Thank you so much for submitting smart and
thoughtful questions related to your finances!
My suggestions here are strategies to help
with budgeting, retirement, college planning,
paying off student loans, investments, insurance,
debt settlement, and more.
Financial independence is a realistic goal for
everyone and the best way to achieve your
dreams is to plan for them. One way to start
today is by meeting with an experienced financial
professional. Taking your first steps
toward financial security will give you the
peace of mind you deserve.
Here are some questions asked by Chi Omega
collegians and my responses. —Michelle
- How can I manage my money so I can treat myself every once and a while?
- What should a standard month-to-month budget look like for a young professional?
- I wish I knew more about establishing credit! Any tips?
- Should I get a credit card to establish a good credit score? Also, what are the pros and cons of getting a credit card?
- How do I pay back my student loans? Is there a minimum per month payment?
- How much will student loans affect me and how long will it take to pay them off?
- How am I going to pay back my college loans and afford graduate school?
- How much should I pay on my student loans each month vs. saving?
- What is the best way to save money for my future and still have enough for the present?
- Why is it so hard to save money?
- I wish I knew more about smart ways to save money. Any suggestions?
- How much of my paycheck should I devote to my emergency/savings fund?
- How much of my (potential future) paycheck should I put aside into savings?
- When should I start investing money for retirement?
1) Cash Flow (income, additional income,
2) Debt Management (consolidating debt,
striving to eliminate debt)
3) Emergency Funds ( saving three- to six months’
income and preparing for emergency
4) Proper Protection (protecting against loss
of income and family assets)
5) Asset Accumulation (outpacing inflation
and minimizing taxation, professional money
6) Estate Preservation (reducing estate taxes
and building a family legacy)
A Phi Chapter/U of Southern California
Michelle Gold is a financial professional in the Los
World Financial Group, Inc. (WFG) is a financial services
marketing company whose affiliates offer life
insurance and a broad array of financial products