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exploring the essentials of money

The Essentials

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We don’t often talk about money. We don’t often ask about money. But we always deal with money. With LifeTuner’s seven money Essentials, you can tune up your financial life.

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New job, a wedding, a baby, a new car. Get ready for them with our money to-dos.

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What is a 403b? (retirement account). A W4? (A tax form). How do I pronounce "fiduciary"? (no clue). Find answers in our index of topics.

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learn the 7 money essentials

1

Spend less than you earn

How much do you really have coming in? It’s amazing
how many of us overlook this first, basic step to getting
a clear idea of our financial picture.
  • Get money in bank.
  • Calculate your after-tax income.
  • Know how much you need to cover the basics.
2

Rule your work life

What's the point of a nice,shiny facade if under the
surface you're drowning in debt? A high-end lifestyle
comes with a price - Finding a career to support it.
  • Focus your career choices on matching your income to
    your lifestyle.
  • Get the most from your paycheck.
  • Think about non-financial benefits.
  • Join useful career networks and look for new opportunities.
3

Have an emergency fund

Life is unpredictable, but your finances shouldn’t be.
If you plan ahead and always have a little set aside,
you can protect yourself from harm.
  • Plan ahead and prepare.
  • Set the right amount for your emergency fund.
  • Automate your emergency savings.
4

Save at least 10%

It's hard to stop and think about retirement saving
when bills keep piling up. But the younger
you start, the richer you’ll be.
  • Learn why waiting is a huge waste of time.
  • Choose a place to save and automate your transfers.
  • Enroll in your employer's retirement plan or open an
    individual retirement account
5

Limit your debt

Debt. It’s kind of like mold or pests. Once
it invades your life and starts thriving, it’s hard
to remove. The trick is to avoid it in the first place.
  • If you're in debt, start paying it off.
  • Understand "good" and "bad" debt and how they work.
  • Zero your credit card balance each month
  • Check your credit report every year
6

Invest, don’t gamble

The cost of living increases every day. But there’s
one way you can make your money beat inflation
and grow at a faster rate — invest.
  • Learn your options.
  • Set an investment timeline and pick investment that much.
  • Minimize your investment costs.
  • Start with index mutual funds.
  • Automate everything and check in at least once a year.
7

Protect yourself

There’s nothing so comfy as knowing you're
safely covered when something goes wrong.
But comfy doesn’t always mean secure.
  • Always have health insurance.
  • Shop around and match coverage to your personal needs.
  • Buy life insurance if any one depends on your income.
  • Get your legal documents in order.
  • Prevent identity theft and fraud.