1.Know your money priorites
Your focus is what’s most important in your life ,right now.
2.Determine your monthly pay
As the saying goes, “what gets measured, gets managed.” How can you manage your money without knowing what you earn each month?
3. Track Where You Spend Your Money
In order to get the full picture of your spending habits, you’ll need to do some financial forensics on yourself. If it seems overwhelming, limit yourself to one month’s worth of expenses.
4. Have a Plan – Any Plan
Now that you know how much you earn, as well as how much you spend, it’s time to make a plan. The best financial plans align your priority with your spending habits.
5. Stick to the Plan
Once you pick a plan, give it a try for at least a month. You need that long to see if it works for you. Anything less, and you won’t see the benefit of keeping an eye on your finances.
6. Expect Emergencies
Regardless of what your priority is, you’ll want to have some easily accessible liquid funds.
You never know what might happen. You or a partner could lose a job, or have a medical emergency or any number of circumstances. Whether you like it or not, life happens.
Having money to deal with problems as they come up will help you feel more secure, and a little more prepared. Most emergencies add enough stress as it is.
You need to establish an emergency fund while employed.
7. Save Early and Often
This rule holds true regardless of your current priority. The sooner you save, the sooner you can build interest.
8. Take Advantage of Free Money
You can invest spare money,or something. Take advantage of all the benefits your job offers.
9. Relook Your Debt
Take a look at your total debt.It’s worth combing through your debt with a fine tooth comb to see if you can find a way to save.
10.Find What Works -Keep Doing It
if you’re in a rhythm that works — you’re saving money, meeting financial goals and building security — keep chugging along. Your focus will pay off.
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