1. Create Your Personal Financial Calendar
Don’t try to trust yourself to remember to pay your taxes or to check your credit report regularly. Setting appointment reminders for those important money to-dos the same way that you would schedule an annual doctor’s visit or your cars tune-up can be really effective.
2. Set a Budget & Stick To It
Setting this budget and sticking to it, is the starting point for every other goal in your life.
3. Be Sure To Track Your Net Worth
Your net worth is the difference between your assets and debt. Make sure you keep track of it. By keeping track of your net worth you can know if you’re backsliding and it can also let you know if you’re making financial progress.
4. Check Your Interest Rates Regularly
Q: Which loan or credit card should I pay off first? A: Pay the ones which have the highest interest rates first..
5. Allocate at Least 20% of Income To Financial Goals
Build up your emergency savings,, invest approx 10% but, only invest in things you personally understand and put away approx 10% cash for your retirement.
6. Consider Paying Everything In Cash
If you consistently overspend, this will break you out of that rut. If you’re not using credit cards you want have interest payments and you also wont have to worry about overspending or your credit cards tradelines reporting over 10% for the highest credit scores possible
7. Budget About 10% of Your Income for Lifestyle Perks
This includes restaurants, movies and happy hour – anything that doesn’t cover basic necessities. By sticking with the 10% rule, you can save and splurge a little at the same time.
8. Set Specific Financial Goals
When setting goals use exact numbers and specific dates to describe what you want to accomplish. How much debt do you want to pay off—and when?How much do you want saved, and by what date?
9. Get Rid Of Negative Thoughts Regarding Money
Having negative thoughts regarding money can keep a person in the financial dog house. A poor persons philosophy and negative feelings about money will not let you gain and keep money. Those who earn large amounts of money and keep it, believe that they are supposed to have money.
10. Try to Get Added to Existing Credit Accounts
Try to get added as authorized user to existing credit accounts. If you have a friend or family member who pays their credit cards on time and they add you to their accounts, you will get the perfect payment history and credit limit placed on your credit files. Some credit services businesses even have credit tradelines for sale.