3. Got a 401(k) plan? Use it

money essentials 401k

If someone offered you free money, would you turn it down? Probably not. But that's what you're doing if you don't contribute to your 401(k). The more you put in, the more free money you get.

Why is it such a sweet deal? 3 reasons. You get an immediate tax break, because contributions come out of your paycheck before taxes. You also don't pay any taxes on the money while it grows. And -- bonus -- your job might even kick in little extra, too.

More on 401(k)s

First published November 21, 2018: 3:09 PM ET

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