Money Management, How to Get There
by Hien T. Do

The information in this article is derived from my personal experiences with money management ideas. These ideas were born from reading magazines, newspapers and financial articles. I also, listening to other experienced people and through asking questions about a lot of things I didn't understand. These things played a major role in my financial education.

The key to successful money management is to save and start now, the amount isn't as important as your determination to save. Start with an amount you can afford and watch your determination grow even faster than your money. Time plays a big role in saving, as you start with a small amount, you will soon realize you can add a little more. As time goes by you will realize the importance of starting when you did. As the interest from your savings grows, eventually it will contribute more to your savings than the cash you're putting in.

There are many savings and investing plans available to everyone, such as stocks, bonds, mutual funds, certificates of deposit (CD), IRA's, and annuities; the possibilities are endless. But we'll get into in future columns. For now, just start by putting some money aside for saving and leave it alone.