Most of you know where I'm going with this, but some of you might wonder just what this has to do with personal finance. While I can't knock Drake's hustle 'cause it is STUPENDOUS, I can say a lot of young adults' lack a hustle or if they've got one, it's more than weak. Why do I say this? For starters, most young adults rarely seek guidance or use resources because we know it all or think we do. As a result, a bunch of us are floundering around and pretending to have it all together in the process when we clearly DON'T. Well, I'm ringing the alarm like Beyonce, and it's time to wake the hell up. Yeah, I said it. Now join me in class for lesson #2 for young strivers!
I'm moving pass the music, so I can really school you today. Young Money isn't just an entertainment group or recording label; there's a personal finance web magazine that I adore with the same name. From advice on checking and savings accounts to career tips, suggestions on how to reduce your debt, entrepreneurship, and investing, this magazine has got you and me covered. I can't help but say, "Young Mula, baby" in my best Weezy voice whenever I log on 'cause I know that's where I'm headed by reading this magazine.
- What's the Dealio? Comparison shop for just about ERRthing and get discount codes at this website and others like Pronto, PriceGrabber, and RetailMeNot. Don't forget sites like Bankrate where you can find the best checking, savings, mortgage, car, and credit card rates among tons of other financial 411. I personally like to look for rates every six months or so to ensure I'm getting the highest interest possible on my savings.
- Get government assistance, and no, I don't mean food stamps! Check out the government's way of supporting financial literacy with the FDIC's Money Smart finance program or the Financial Literacy and Education Commission's website. Both sites provide FREE guidance for managing and planning our financial futures whether we're in college, unemployed, single/married/divorced, starting a business, buying a home, or adopting a baby.
- Save on cable by watching TV online at your favorite network's website, Fancast, Hulu, or Netflix. Watch PBS' Your Life Your Money episodes on the web, play games, or access a budget calculator, glossary, and other tools that'll help you get on financial track.
- Read magazines? Well, Maghound offers reduced price subscriptions on all the best magazine titles. Get three magazines for just $4.95 per month; that's three magazines for the newsstand price of one! I stay up on all things money by ordering Kiplinger's, Money, and Black Enterprise from my friends at Maghound.
- Be in the know, and order your FREE Annual Credit Report today. I suggest you review your report closely for any discrepancies and dispute them as soon as possible. You can also order your scores from each of the credit bureaus or at a site called MyFICO, one of my good friend's Suze Orman suggests. If you find it hard to sift through all the information on a credit report, some of you may like Credit.com's FREE credit report card. The site pulls information from your credit file and gives you a letter grade. I hope we're all aiming for an A+!
- Cut down your student loan debt with retail therapy. Yeah, I'm telling you to spend and save in the process. With Sallie Mae's Upromise, you can save by shopping at retailers in-store or online, dining out at the hottest restaurants, purchasing gas, lodging a number of hotels from the W Hotel to the Holiday Inn, or by taking brief surveys at e-Rewards. Guess what? It's FREE!
- Get your hustle on and find your next gig online at QuietAgent where you can hunt for jobs anonymously. Be included before being excluded because of your race, gender, sexual orientation, ethnic name, or that hideous tattoo of your baby daddy or baby momma's name.
- Still got questions? Seek the advice of a professional like the personal banker at your local credit union, a certified financial planner, a mentor, or maybe even a life coach like Kandice of Helping You Live the Good Life in Real Life.
In short, lesson #2 for young strivers:
To earn money, you've gotta learn money (and the resources available to you). Here, I've given you just a handful to get you started...for this, you can Thank Me Later! Class is dismissed.
Questions to Think About:
- How would you rate your hustle and personal finances on a scale of 1 to 10?
- Do you make use of resources and financial tools to get ahead? If so, what are those? If not, why?