Wealth is Good
Cash Flow Is Better

This article by Kimberly Rotter of “The Insider” includes a contribution from Keith Whelan.

The milestones of growing up are different for everyone, but they tend to share the same basic characteristics.  Key parts of the transition from child to adult include moving out on your own, embarking on a career, paying for your first solo vacation and, certainly managing your own budget and bills.

Taking responsibility for yourself and making “adult” decisions are indicators of maturity.  While the journey to full independence is a long and winding road, money management is a critical aspect of adult life and must not be taken lightly.

In today’s highly unforgiving job market, recent grads know they’re lucky if they land a full-time job with a nice salary.  Huge congratulations are in order for anyone who is young and gainfully employed in is or her chosen field.  When you receive those first few paychecks that are larger than any you’ve ever earned before, celebrate.  But not too much.  Be your own fierce advocate when it comes to protecting this new asset, and take the time to plan and build a foundation for financial health that will – literally – last the rest of your life.

Read the full article at:  http://www.creditcardinsider.com/insider/ask-the-experts-money-management-for-young-professionals/

Keith Whelan is Cashflownavigator's founder and author of the "Wealth is Good, Cash Flow is Better" e-booklet. He is a graduate of Columbia University Business School, teaches at Rutgers University, and has over 30 years experience in the banking and financial services industry. Keith, his wife Cindy, and their two sons live in New Jersey.