Personal Finance

Intro to Personal Finance

Are you searching for personal finance tips? Take control of your financial journey.

Most Americans receive the typical financial advice from their co-workers, friends and family which is not always accurate.  The reason for this is because YOUR financial goals will differ from other people‚Äôs financial goals. It will fluctuate for everyone based on their background, their job, their family life and monthly expenses.  

There are general guidelines you can follow to improve your financial foundation like avoiding credit card debt, opening a retirement account and paying your bills on time.     

Lets go deeper:

Sure, it is common knowledge to avoid credit card debt.  Americans find themselves in financial ruin when they fall into credit card debt due to the high interest rates.  Unfortunately, when you run into unexpected expenses like an emergency car repair or personal injury, credit cards can help you in tough situations. 

To avoid falling deeper into debt, it is important to pay off your credit card bills on time and do your best to pay off as much of the balance as possible in order to escape paying additional fees.

Here’s a thought:

Instead of relying on credit cards for everyday expenses, challenge yourself to withdraw cash or open a prepaid debit card to manage your weekly budget and avoid using your credit card.  Although credit cards are much easier to carry and offer reward programs, they are dangerous when you simply swipe for every purchase without paying attention to the actual price you are paying.

It takes hard work, but managing your monthly expenses and maintaining healthy savings habits will lead you to a better financial foundation.  It is smart to track your expenses, take advantage of discount coupons to save money on shopping and redeem any cash back or reward points owed to you.   It is smart to learn different budgeting tips, strategies to lower your monthly bills and ways you can save money on regular expenses like gas or groceries.

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