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Question for the Money Doctors

Question submitted on Feb 26, 2019.


I've never really had any type of spending control, when expenses come up they get paid but the needless hassle I put myself through during these times is very trying. Im 21 and want to begin building those proper skills that will allow me to leave home and safely sustain myself. Where can I start and how can I stay the course?


You are off to a good start by deciding to adopt good financial practices - well done!  Good financial spending starts with a clean slate - take a hard look at every purchase decision and decide if the purchase is a "must have" or "nice to have".  Keep a list of only the "must haves" such as food, housing and medical....and savings!  These are your fixed costs.  Don't purchase any discretionary "nice to haves" until your credit cards are paid off and you have a nest egg in the bank.  You'll be financially independent.  Best of luck.


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