When it comes to financial education, you are not on your own. There are a huge number of resources on the web, in bookstores, and in libraries. We offer a number of helpful resources that we invite you to reference free of charge.
Money Tip #1
Don’t spend more than you earn.
If you spend more than you earn, you will never be able to save money for the future.
Money Tip #2
Live below your means.
For example, if you earn $80,000 and spend $60,000, it counts twice in your favor. You can save more and you will not need as much money to live.
Money Tip #3
Pay yourself first.
Put aside money in a separate savings account before you pay any of your bills. Have a set amount automatically transferred every month.
Money Tip #4
Prepare a spending plan that includes your short-term and long-term financial goals.
The plan must include all of your expenses and all sources of income.
Money Tip #5
Don’t sacrifice your retirement savings to pay for college or current expenses unless it is a dire emergency.
There is always money available to pay for schooling and most emergencies. You cannot borrow for retirement.