Aviva Sapers talks finance with July’s Jewish Vocational Services graduates
Aviva Sapers gave sound financial advice to a group of graduates from JVS this past July.
Among her words of sage advice, Aviva counseled the group on how to take steps towards financial fitness. For example:
- Credit cards vs. debit cards: When a debit card is used, the money comes straight out of the bank account right away versus earning interest when charging on credit. If you haven’t a feel for what you spend each month it might be hard to manage the bill when it arrives.
- Save early on. The more you save early on, the better off you are due to the power of compounding interest
- Start a 401k. Enjoy the tax advantage of pre-tax savings
- Avoid the dangers of living too high. There’s a high carrying costs to keeping a balance on your credit cards. Better to live within your means. Share rent with a roommate if you can’t afford your own apartment. Your housing costs shouldn’t be more than month’s income because you still need to afford things like gas and electric, food, insurance, transportation etc.