Taking control of your finances can lead you down a dark, strict, painful path. That’s cool, if you’re into that. But if you want to improve your finances right now without turning your life upside down then you came to the right place.
There are so many tiny tasks involved in personal money management and it is a lifetime entanglement. So instead of getting overwhelmed by all of it, here are several dozen bite-size tips to improve your finances.
- Track your expenses – spend 15 minutes going through your regular monthly expenses manually or automatically through your online banking or mint.com
- Check your credit score (fo’ free at creditkarma.com)
- Shop secondhand – my local thrift stores always amaze me and thredup.com is an awesome online alternative. Get $10 to shop at thredup here
- Cut out cable
- Eat at home
- Have a separate emergency fund
- Use a HYSA – high yield savings account*. I use & love Ally
- Keep a months expenses as your bank account minimum
- Make a will
- Open an IRA
- invest – those funds in your IRA will need to be š
- Use coupons = honey 4eva
- Shop around for cheaper insurance
- Refinance debt
- Max out 401(k) employer match
- Make extra money on the side
- Automate savings – to your HYSA š
- Use Tax-advantaged accounts
- Open a 529 (for the babes!)
- Follow personal finance accounts (on your social media of choice)
- Know your debt holdings
- Create a debt repayment plan
- Check on your net worth – Personal Capital is a crowd favorite
- Move money to your retirement accounts
- Make a holiday gift budget
- Skip the soda at restaurants (& drive-thrus!)
- Drink at home
- Avoid lifestyle inflation
- Open a brokerage account
- Use a budget app – those push notifications will keep expenses in your face
- Read a finance book
- Combine subscriptions
- Cancel excess subscriptions
- Close store credit cards
- Sleep on big purchases – 30 day rule? Anyone?
- Automate your bills
- Pay extra principal on debt
- Make a money goal (and write. it. down.)
- Pay debt on time
- Know your debt-to-income ratio
- Calculate your interest rates
- Audit your bank account
- Negotiate bills
- Renegotiate salary
- Use cashback apps
- Shop sales
- Return unwanted purchases (!!!)
- Buy quality over quantity
- Buy non perishable necessities in bulk
- Know your employer benefits
- Use your health benefits
- Research the deductions on your paycheck
- Find your financial independence score
- Set 1,5,10,25 year financial goals
- Compare your current salary to the market average
- Reduce excess insurance coverage
- Confirm the vesting schedule with your employer
- Find a no-fee bank account
- Pick some ETFs at etfdb.com
- Create a yahoo finance account
- Follow your favorite companies – start exploring their stock!
- Calculate your expense ratio (expenses/income)
- Delete shopping apps from your phone – you can always reinstall them
- DIY instead of buy – literally my favorite way to save money & stay home
- Work out at home – because gym memberships aren’t for everyone(‘s budget)
- Stop using credit cards
Managing your money doesn’t have to resemble a full-time job you hate. There are plenty more where these came from (and will be added on whims!) and if you only pick one to do every other day then you will effortlessly improve your finances.
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