as a young guy.who has finished a professional course and now working how do i spend my salary wisely.?
479220
Ask yourself this before you spend. Do I need this or do I want this. Save your money, invest wisely and look out for gold diggers. Good Luck
744781
you will make more money... see article below\n\n\nhttp://www.youngmoney.com/careers/career_trends/020605_02
515723
In the long run? Nope. \n\nI advise you to get a student loan and live without extraneous responsibilities like mortgages for a while - enjoy life, and educate yourself in your formative years in a way that only people without heavy responsibilities can do - what if you want to travel, or move in with a lover in that time? The essence of education is autonomy, travelling light and discovering the world, not being tied down to some place you bought two years ago. Move around the city in which you study. Meet new people, live with them, see how other people live. I won't labour the point - I think you get the idea.\n\nThen graduate with a great degree and eventually when you can put it off no longer get a mortgage at lower interest rates because you have a degree and therefore more earning potential than someone without one.... don't worry, once you have your degree you will be earning loads more and you will have had a great fancy-free time at university and stories to tell your future employers in interviews. It is important to be agile and be able to move around early in your career, sampling different experiences.\n\nI am from England by the way, so assuming you live in the USA it may be a bit different.
259445
umm get a job and save ?
741463
1) get a part-time job to help pay for your education\n\n2) student loans (expensive! - but may be worth it if you get a legitimate education that qualifies you for a high wage career)\n\n3) attend a junior college or lower-cost public university/college\n\n4) all of the above!
1179031
Education and experience will pay off for you the most in the longrun...  It takes a combination both to reach your salary goals.
445442
Put money aside, 10% of your gross income. The word "fast" has more than one signification. I suggest to spend the least possible, as in "to fast."
363528
Try getting a job washing dishes or serving customers at a local restaurant.....or flipping burgers. Then tell yourself, "This is where I'll be for the rest of my life if I don't finish school."\n\nYou'll probably graduate early, and with honors! LOL! Seriously, it takes a minimum of a Bachelor's degree to really get anywhere in this world these days - it's a bad setup, but that's what we have now.\n\nAnd you're right to think friends aren't an option - if anything, far too many of them are probably encouraging you to "blow off class" at any time of the day, right? And you're paying an awful lot of money to be using it as essentially the cover charge for a never-ending party - you're still young (I'm assuming) and will have *plenty* of time to party once you're out of school, so get yourself through it while you're young enough to enjoy the fruits of your labors. You'll look back on your Bachelor's (or higher, if you're so inclined) and think, "Man, that Wheezer guy was right!" while you're getting your Burger King order from the partiers who couldn't quite finish.....\n\n; )\n\nGood luck!
102899
Dear Bob, \nThe investment to finance your education will cost you $7500 per year.  When you graduate in 5 years, assuming you have deferred all loan payments, you will owe approximately $47,500.  This may seem like a lot of money now, but consider the improvement in your future earnings after you get your college degree.  If you begin working now at a salary of $19000, after 5 years of 3% annual raises, your salary would be about $22000.  The job you get out of college will pay at least $25000.  If we amortize your loan payments over 20 years at 8%, you will have to pay about $400 per month.  This may be a struggle at first, but you can expect bigger raises (5%) per year with a college degree.  After 3 years, your income will be almost $29000 if you go to college compared to $24000 if you start working now.  This is enough to completely cover the loan payments, especially when you consider that the interest payments on student loans are tax deductible.  Beyond the third year, your salary with a degree will continue to rise faster than if you skip college.  It makes sense not only from a financial perspective, but also in the fact that you are more likely to find more interesting and challenging work with better career advancement opportunities if you get your degree.  Good luck!
517192
Buy a diversified series of mutual funds. Individual stocks are just way too risky in most cases, especially for novice investors, even if they look like a sure thing.  How are Enron and Worldcom doing right now?\n\nMake sure you hit all the assets classes, like Large cap stocks, small/mid cap stocks, international stocks, emerging markets stocks, government debt, corporate debt, hi-yield debt, foreign debt, emerging markets debt, real estate, commodities, and precious metals. That's 12 categories right there, so let's say you get started with with $1200, you're talking about $100 each. \n\nThen sit back and rebalance each year, back to your original percentages. This is called asset allocation. The thinking being, what's BEEN hot is more than likely not going to STAY hot. All markets, after all, are cyclical.  This is why people who invest their 401(k) by just putting in whatever's had the most recent best numbers never get anywhere--they're investig in something that DID will and IS probably NOT doing well.\n\nThis sort of portfolio should average 8-12% per year, so just split the difference and say 10%. Will it do 10% EVERY year? Of course not. I'd be surprised if it ever did EXACTLY 10%. That's an annual average. With that average, your money should double roughly every 7 years. \nSo, in 7 years you should have about $2,000\nin 14 years you should have about $4,000\nin 21 years you should have about $8,000\nin 28 years you should have about $16,000\nin 35 years you should have about $32,000\nin 42 years you should have about $64,000\nin 49 years you should have about $128,000\nin 56 years you should have about $256,000\nin 63 years you should have about $512,000\nin 70 years you should have about $1,024,000!\n\nOf course, if you keep adding money in, say $100 a month, you'll become a millionaire MUCH sooner. The key is discipline, and sticking in when markets are up OR down. Don't try to time the market--you'll NEVER get it right.\n\nHere's a handy formula:\n\n$100/month x 12% retutn x 20 years = $100,000.  \n\nSo if you invest $300 a month, you can expect to have $300,000 or so in 20 years, depending on what return you get.  And remember, even if you stop there, that money itself will double again in 7-10 years, depending.  Then double again.  Then double again.  You get the idea.\n\nIn short, you can make a HELL of a lot of money, with a small output on your part, if you do it right, and are patient.\n\nOh, and if you qualify, and do this all in a Roth IRA? Then every penny will be 100% TAX-FREE. That's a deal that's too good to pass up. That's why I tell all my under-30 clients--if you make under $90,000, and therefore qualify to do a Roth, you'd be a fool not to. Just having the power of youth (and therefore time) on your side is such an advantage, to squander it would be such a waste!\n\nHope this helps!\n--J.\n\nP.S. The previous answerer's advice about contacting Edward Jones is gold.  I would go to their website at www.edwardjones.com, enter your zip code, and find the closest office to you.  Chances are there's one within 10 miles.  They have 10,000 office in the US, UK, and Canada.  And they will take care of you right if you decide you don't want to go it alone.
553383
Really, its up to you. Take from me as a friend: if at your age, you don't know "what you really want", then you're in serious trouble! You and YOU alone can answer that question. The right question to ask is "How much do i want to earn at the age of 28?" and then plan your life and work towards it. I'll recommend you visit this website http://www.tonyrobbins.com
620694
First, I would make sure you have at least 3 months salary saved up in the bank or in a money market fund for an emergency fund. (Some people say 6 months.) Financial disasters like getting layed off or sick happen to all of us.\n\nSecond, I would pay off all high interest debt. Pay off everything you can except the house mortgage and student loans. Paying off debt is one of the best investments you can make. You will have more money in the future because you won't have credit card bills to pay.\n\nThird, if you have money left, start investing in stock and bond mutual funds.  I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money conservatively, in money market funds and bond funds, and part aggressively in stock funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be. They will explain what mutual funds to buy depending on your situation.\n\nInvesting in a mutual fund IRA for retirement may give you an income tax break. Talk to your tax adviser. You may also be able to invest in a stock mutual fund via a 401K plan at work.\n\nBelieving advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
295411
I'd say it depends on what you want to study and why. If you want to study for self-growth that's one thing. If you're doing it for career and financial advancement, you should carefully see how much money is required and how much extra money you would make from this new career. You probably will be working another 30 years so 35 is not that old.\n\nI advise you not to focus on your age so much for any life decisions. In America those limits are coming down left and right. I do have friends who finished school in their mid-thirties or went back for masters degrees in their 30s, 40s or later. The papers usually have a story of some 80+ year old who just got a college degree.\n\nDon't let anyone pour negativity into your head with "you're too old to do X." Make that a life policy. You've got to get all the facts you can and then trust your instincts.\n\nI must stress getting all the facts. When I went back to get my Masters degree in my mid-thirties, I found out about some money saving options after it was too late. Talk to lots of people who go to the schools that interest you as well as the people who work for the school.\n\nGood Luck!
622651
First, I would make sure you have at least 3 months salary saved up in the bank or in a money market fund for an emergency fund. Financial disasters like getting layed off or sick happen to all of us.\n\nSecond, I would pay off all high interest debt. Pay off everything you can except student loans, which are usually low interest.  Paying off debt is one of the best investments you can make. You will have more money in the future because you won't have credit card bills to pay.\n\nThird, if you have money left, start investing in stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks, as individual stocks are too risky. For most folks this means buying mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money conservatively, in money market funds and bond funds, and part aggressively in stock funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be. \n\nInvesting in a mutual fund IRA for retirement may give you an income tax break. Talk to your tax adviser. You may also be able to invest in a stock mutual fund via a 401K plan at work.\n\nBelieving someone you met over the Internet and know nothing about is risky. Read these websites for further information.
1120098
I would get your degree first.....you'll be working for the rest of your life...unless you win the lottery of course. :-)
521431
Make sure you set some short-term and long-term goals for yourself.  Don't set your goals too high, if you make unrealistic goals you probably won't reach them.  Reward yourself as you do meet your goals.  \n\nGive yourself an allowance and don't spend more than your allowance.  Save some of your money.  Don't over extend yourself on credit.  Buy only what you can pay for and payoff your credit cards every month.  Don't buy a brand new car because you'll lose money as soon as you drive it off the lot.  Buy a good used car so you don't have to pour all your money into a junker.\n\nGet a college degree.  Even an associates or vocational education is a good start.  Don't stop there, continue to learn for the rest of your life.  Your paycheck will reflect the level of your education.\n\nDon't rush into marriage and don't have kids out of wedlock or too soon.  You'll end up working hard for the rest of your life supporting someone else.\n\nTreat yourself and everyone you meet good.  You never get a second chance to make a good impression.  Life only goes around once so make the most of your time here.  Don't drink too much and don't drive drunk.\n\nTry not to put too much empasis on material things.  A flood or fire could take it all away from you in a minute.  Trying to keep up with the Jones' will get you nowhere and you'll never be happy because you'll never have enough.
717351
Loans, grants, scholar ships and the kids should work and be saving for college. Try to invest wisely now.