10 Keys for Financial Success
Ten Keys for Financial Success
- Spend Less Than You Earn. Keep a budget or spending plan and track your spending.
- Have a Plan. Get organized, write down your financial goals, track your expenses.
- Prepare for Expected Events. i.e. Retirement, Holidays, etc.
- Prepare for Unexpected Events. i.e. Emergencies, Job loss, etc.
- Always Know Your Interest Rates. Never exceed 13% interest on loans and know what you pay on interest and fees. Know how your interest is being calculated.
- Keep a Healthy Credit Report. Receive a free annual credit report at annualcreditreport.com.
- Avoid Waste. Eat at home, clip coupons, return purchases you won t use.
- Take advantage of tax breaks. Earned Income Credit, VITA
- File in the Financial Gaps. Garage sale, eBay, recycle, sell excess produce at a farmers market, house cleaning, etc.
- Give Back to Your Community. Visit a list of local nonprofits
Plan to be Financially Successful
- Know where your money is going
- Save for specific needs
- Write down immediate, short term, intermediate and long term goals
- Create a spending plan that works for you and track what you spend
Start Saving Now to be Prepared
- Save lump sum payments / windfalls like tax refunds, gifts or inheritance.
- Be prepared for sudden illness, theft, natural disasters or the loss of your job.
- Have adequate health, car, home, and life insurance.
Improve Your Credit Score
Your credit score is a number that indicates if you have a good credit history. You can improve your credit score by paying your bills on time and paying off your balances each month.
-Content provided by America Saves. For more information visit http://www.AmericaSaves.org