Break Down Your Income & Expenses

In order to do this, you need to track your spending by either writing your purchases down or using a free personal finance app.

Get to working on improving your finances today, not tomorrow. Reading the steps and thinking you’re capable of doing it but postponing it is just an excuse, an unprofitable one.

Talking about your financial goals, and scheduling time once a month to go over your finances together can prevent money from affecting your relationship.

You don't have to sacrifice all of your free time to start a side hustle, use the time you’re comfortable with and make a little bit of progress every day. 

Act as if your savings account is a bill to pay, so you’re less likely to spend it. Automate savings transfers if possible.

Is debt acquired to purchase something that is going to benefit you financially in the future, usually with low interest. That means it's either going to generate income or allow you to make more money in the future.

Examples of good debt:

• Student Loans

That’s the debt that's acquired through purchasing something that depreciates, something that's going to lose value and generate zero revenue.

You can't predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months of living expenses.

Common financial emergencies include job loss, natural disasters and car, house and health issues.

Create a plan for your money so you know where it's going every month.

A popular and effective way to budget is with the 50/30/20 rule, where 50% of your income goes towards necessities (bills, food, housing, etc.), 20% of your income goes towards savings and 30% you can use f...

You should have a savings account, but your money is depreciating if that’s your only investment - average savings don’t yield more than inflation.

Real estate, peer-to-peer lending, exchange traded funds (etfs) and stocks are examples of common investments. Crypto...

Net worth is what would be left if you were to sell everything you own and pay what you owe. If you have a positive net worth, continue working to increase your net worth, but if you have a negative net worth, analyze your budget and plan how to increase it.

Make sure to re-calcul...

Credit card usage can lead to debt and the debt grows itself while unpaid. However, used responsibly, it's a good way to start building credit. 

Most credit cards also have other benefits, such as rewards points, cash back, or travel points. But if you're incapable of paying off the ...