Five things you need to know about money and ...

1. How should I track my personal spending?
The simplest way to track your spending, especially your cash, is the low-tech way, with a notebook and a pen. By carrying around the notebook with you, you can actually track exactly where every dollar is going—from a small coffee on your way to work to a spending splurge at the mall. If you’d prefer, on a daily or weekly basis, you can transfer your handwritten notes to a computer spreadsheet.
2. What financial reports should my family have?
Each family should spend some time tracking their financial progress, and the best way to do that is to develop a few financial reports that you’ll update monthly or semi-annually. These reports include a family budget and a balance sheet.
3. When do I create and update my personal budget?
Individuals should start budgeting and tracking expenses as soon as they begin their first full time job. Revisit your budget every few months, and whenever significant life changes occur, such as raises, marriage, the birth of children, and divorce. 
4. What financial professionals should I consider working with to help manage my personal finances?
If you find that you need help with your finances, professionals such as tax advisors, credit counselors, financial planners, and lawyers can help. Before working with any financial professional, be sure to check their credentials. You may choose to ask your friends a

nd family if they have any trusted financial partners that they recommend. Ask specific questions about their history and areas of expertise. Finally, be sure that you are comfortable with the advisors you choose; ideally, you will be financial partners for life. 5. Why is a personal balance sheet important? A balance sheet calculates your net worth by comparing your financial assets (what you own) with your financial liabilities (what you owe). The difference between the two is your personal net worth. Don’t be discouraged if your net worth is negative—keep in mind that this should be an accurate depiction of your financial situation. Setting goals is much easier once you know what your current net worth is.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.

Among the countless stereotypes about young people is the belief that they manage money poorly.

Indeed, studies find that most twentysomethings fail at answering basic questions about stocks, mutual funds, and interest rates, and fewer than 40% of workers in their 20s participate in employer retirement plans.

But evidence also shows young adults behave wisely—when given the opportunity. For example, if you look at only those millennials who are eligible for 401(k)s, the proportion of participants rises to 70%. And among those who are saving for retirement, twice as many millennials as boomers are increasing the percent of income going to their 401(k) each year.

Making these stereotype-defying smart moves early in life can pay big long-term: Think millions. And those in their third decade still have plenty of time to learn basic principles that will lead to a happier, healthier financial life.

So, if you haven't yet, check out MONEY's list of financial rules to learn before you turn 20. Then read on for 10 things to know about money by age 30—and beyond.

1. Negotiating pays dividends

Fewer than 2 in 5 millennials negotiate their first salary. That's a shame, since 80% of those who ask for a bump actually get some—if not all—of the money they request. Plus, 76% of hiring managers say candidates who negotiate appear more confident for doing so.

In addition to making you look good, asking for higher wages early on can make a huge difference in your lifetime earnings: Even just a 5% raise at age 22 can net you almost $200,000 in extra wealth by retirement.