Goals are what keeps us motivated. 3 to 4 simple goals are great. For example: “to buy a home” or “send my son to school”
Having a cushion reduces stress and prevents problems. Set aside enough to cover recurring bills or unexpected expenses.
Set up transfers every paycheck or every month. If you wait to save, there never seems to be anything left. You can always tap into your savings during the month if needed.
Some accounts are for making ends meet, others are more for long-run, like retirement. Online tools might help. Keep fees as low as you can.
If your employer has a retirement plan and offers a match, save at least enough to get all the match you can qualify for. It is like a bonus.
It’s easy to lose track of what you spend. Check your accounts frequently. Make sure to keep track of due dates. Set up a system so you can pay every bill on time.
Shop around for a auto, home and life insurance policy. Insurance can protect you from hardships. You may also want to shop around for disability insurance.
Payment cards are convenient, but if the card offers you the ability to revolve or carry the balance month to month, it can become expensive. Pay off the balance every month if you can.
No matter what kind of financial service, subscription, investment or loan, be sure to shop around, read the fine print, and ask questions.