Trouble with money? Heres some information you may need to know!

Forms of payment
ATM Cards: An ATM card is used for depositing money and taking money out of the bank
Debit card: A debit card is used to transfer funds digitally. This is the most common form of payment now.
Checks: A check is a piece of paper where you write the amount of money you'd like to give and who you'd like to give it to. The money comes out of your bank checking account.

Managing money
Here are some tips on how to better manage your money.
1) Try making a budget for yourself. First you should add up how much money you have coming in monthly. Then subtract your monthly expenses from that. After this you should put some of that money into savings and the rest you can use for non-necessities.
2) You should track how much money you’re spending and on what. There are digital resources you can use for this but you can also just use a notebook.

Plans
401k plan:
A 401k plan is a workplace retirement plan. Every time you get a paycheck money will be taken out and added to your 401k plan. It can be invested and grow tax free. You can choose how much money you put into the plan.

403b plan:
403b plans are similar to 401k plans except they are offered by public schools.

IRA:
This plan is not sponsored by an employer like the 403b plan and the 401k plan. When you retire and start taking money out of this account it will be taxed.

Roth IRA:
Similar to the IRA except contributions aren’t tax deductible however when you start taking money out you may be able to do so tax free.



Contracts

Debts
Debts are money you owe. Common forms of debt are student loans and credit cards. Being in debt can limit your financial opportunities so it’s important to try and get out. Here are some tips
1) Find out how much money you owe and who you owe it to
2) Plan a way to repay that money. Take this one step at a time. Fully repay one debt then move to the next.
3)Here’s an important resource for how to get out of debt: investopedia.com