Financial Tips for First Time Job Holders

Sat Mar 23, 2013 11:41am EDT

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CHICAGO,  March 23, 2013  /PRNewswire-USNewswire/ -- Congratulations!  You just
landed your first job!  But before you blow your first paycheck on a night out
with friends, check out these financial tips from  Neena Vlamis, co-founder and
President of   A and N Mortgage Services, Inc.:   

1.  Max out your401k,  especially if your employer has a matching program.  If
the company does not offer one, call a financial planner and start an IRA. 
Vlamis recommends that once you leave the job, roll over the 401k instead of
cashing it out to avoid taxes and penalties.   

2.  Emergency savings account:   You cannot control the economy but you  can 
control your finances.  Be sure to have at least 12 months living expenses saved
for emergencies.  The market is constantly changing and this money may be needed
in case of unemployment.  The easiest way to do this is to automatically have 10
percent of a paycheck deposited into a savings account.  

3.   Charge cards:   Credit card companies specifically target young adults,
trying to lure them with high spending limits then hitting them with high
interest rates and fees.  Demonstrate your financial savvy and eschew multiple
credit cards.  Have one low interest card for emergencies but pay it off every
month to save yourself money and stress.   

4.  Living expenses:   Keep your living expenses as low as possible and never
spend more than you need.  

5. Have a plan!  Meet with a financial planner every six months to stay on
track.  "You can only rely on one person to plan your future - and that is
yourself," Vlamis adds.  

Celebrating its 10th  anniversary,   A and N Mortgage Services, Inc.  is one of 
the top mortgage firms in Chicago, rated A+ by the Better Business Bureau for
seven consecutive years and named one of the Top Ten Most Dependable Mortgage
Brokers in Chicago Magazine in 2007.  A and N is a hub for learning in the
Chicagoland real estate community, dedicated to keeping Realtors informed and
educated through free seminars and workshops led by industry experts.  In
addition to  mortgage services for residential  and one-to-four unit properties,
A and N is a Credit Union Service Provider and offers businesses a Corporate
Lending Program for employees.  


SOURCE  A and N Mortgage Services, Inc.

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