One of the most valuable classes at Cal that I attended was not an engineering class, nor was it technical. It was UGBA 196, Personal Financial Management. Professor Selinger seared into our brain about “the magic of compounding” and how it is ever so important that managing your personal finance while you are still young will reap benefits orders of magnitudes higher than if you started later.
I’m writing this guide because ever since I took that class, I have learned how important it is to understand personal finance, and that especially for young working professionals, it is extremely important to start saving correctly right now. I am not claiming to be an expert (hardly one) in managing money, and you definitely should do your own research before doing anything. But I hope this is a guide that will help jump-start or help get you on track to managing your money right. (more…)