By Angela Watkins

The first step toward achieving that goal is to become debt-free over a five-year period and to make purchases with cash, if possible. If that isnt possible, try establishing no new debt that will take longer than one year to pay off.

Plan to set aside one-fourth of your net pay for investments.

Women are seeking ways to improve their financial clout and to instill strong, financial values in their youth. Now is the time to start saving for the time when you will no longer be an active participant in the workforce.

Education is not preparation for life; education is life itself. Resources include books, public library, magazines, trade journals, newsletters, audiocassettes, seminars, colleges and associations. We should try to determine the areas where we need improvement, gain the knowledge or skill we need, and then schedule our learning!

Failing to plan is just like planning to fail. With the low start-up costs for a home business, the risk is minimal compared to the traditional retail businesses in town. But with good planning, there will be a greater probability for successful income very quickly.

Do you know where your money goes from each paycheck? Do you keep track of your monthly income as well as monthly out-go? Once you have discovered where all of your money goes, then you can actually begin to plan your finances for a secure future. Knowing the bottom line of your monthly cash flow log, you will be able to designate a portion for your home business operational expenses and the rest to your financial planning areas.

Can you imagine the feeling of financial security, knowing that your entire paycheck could be used for cost of living expenses only, with no debts? The excess income funds that were wasted on credit could be used entirely for your future planning and for some enjoyable discretionary spending.

Book Reviewer, Consulting, Coaching, Public Relations http://www.writers.net/writers/21422 http://www.angelasgems.com

By Edrea Davis

Raleigh, NC - As the government debates the future of social security, employers eliminate pension plans and health benefits, and credit history increasingly becomes a hiring factor, it is critical for young people to take charge of their financial future at a very early age, cautions Patrick Lyons, author of Map Your Financial Future: Starting on the Right Path in Your Teens and Twenties (ISBN 978-1-4116-8677-9).

'With traditional safety nets diminishing, financial security in America will be limited to those who started on the right path early,' says Lyons, portfolio manager at NCM Capital Management Group, Inc in North Carolina. 'The ones who start early and manage well will cruise through life and retire comfortably while others struggle along. Map Your Financial Future gives youth a strong foundation that will help make their ride through life a smooth one,' he adds.

The book provides a roadmap for young people to understand personal finance in three easy to read sections. Part one covers budgeting and money saving tips; part two explores how to understand credit so it doesnt become a road block; and part three discusses ways that you can increase your earnings and build your nest egg for retirement. Each chapter also offers a 'Just for Teens' section.

Yearly, educational institutions graduate thousands of students armed with degrees ranging from law to physics, however, countless professionals are not equipped with a basic understanding of how to manage their personal finances. According to Nellie Mae, 92 % of college sophomores have at least one credit card, many have four or more, and the average combined credit card and student loan debt among graduating seniors is $20,900. According to a recent NACE salary survey the average starting salary for college graduates in the ten most popular majors is just under $36,000 per year.

'Clearly this is an equation for disaster at the beginning of your journey to financial freedom,' says Lyons, who earned a B.S. in Mathematics from Florida A&M University and an M.S. in Management from North Carolina State University. 'Many people, young and old, view credit as an extension of their income which starts a downward spiral not easy to recover from.'

Map Your Financial Future is an invaluable resource for parents, teachers, or anyone wishing to improve their financial outlook. 'Whether you are just learning about money or interested in credit and investments, this book shows you how to achieve your monetary goals,' says Maceo K. Sloan, Chairman, CEO and CIO, NCM Capital Management Group.

Pre-release copies of Map Your Financial Future are available at www.PatrickALyons.com and other online retailers. For phone orders call toll-free, 888-261-1850.

Edrea is a publicist and multimedia producer in Atlanta.