Most personal financial problems stem from a refusal to watch expenses and income in a disciplined, orderly way. Use one of the many budget tools or forms that are available online. Don't make your budget overly restrictive, but follow it religiously.
Financial gurus recommend having an emergency fund equal to six months of basic living expenses. Count cash, money market funds, and accounts that are separate from retirement accounts. If you have to use your emergency fund for any reason, make it a top priority to replenish it ASAP.
Buy a new home for living in, not for investment. Select a neighborhood that is good for raising a family. The cost of the home (mortgage, taxes, upkeep) should be well within your means. Avoid being "house poor."
If you have growing children, purchase only level term life insurance that extends until your youngest reaches age 25. Avoid whole life insurance and consider other ways to invest.
Use consumer credit sparingly. Be careful with credit cards and merchant accounts. Limit time payment merchant accounts to something meaningful, such as major home-improvement purchases.
A true high five list for people to read and heed.
A true high five list for people to read and heed.
for sure, one has to know what they make and what they spend...it's twice as bad if a married couple are both spenders and neither holds the other accountable.
select one here...