Question: What Should I Do With My Finances?

Here is our list of the smartest things that anyone can do for their finances.

• Create a Spending Plan & Budget.
• Pay Off Debt and Stay Out of Debt.
• Prepare for the Future – Set Savings Goals.
• Start Saving Early – But It’s Never Too Late to Start.
• Do Your Homework Before Making Major Financial Decisions or Purchases.

What is the 50 20 30 budget rule?

Senator Elizabeth Warren popularized the 50/20/30 budget rule in her book “All Your Worth: The Ultimate Lifetime Money Plan.” The basic rule is to divide after-tax income, spending 50% on needs and 30% on wants while allocating 20% to savings.

What are the ways to improve your finances?

How to Improve your Finances

1. #1 – Set Clear Financial Goals.
2. #2 – Create Financial Milestones.
3. #3 – Track All Expenses.
4. #4 – Immediately Open Bills.
5. #5 – Take a Daily Money Minute.
6. #6 – Prioritize Debt Repayments.
7. #7 – Save & Invest 15% of Your Income.
8. #8 – Create a Monthly Budget.

How do I use my money?

Part 1 Spending Basics

• Create a budget. Track your spending and income to get an accurate picture of your financial situation.
• Plan your purchases in advance.
• Avoid impulse purchases.
• Shop alone.
• Pay in full and in cash.
• Don’t be fooled by marketing.
• Wait for sales and discounts.
• Do your research.