A closer look at the news shaping our world today

Financial Advice

Tips and News About Personal Finance

Personal finance is about managing your money, your savings and investments. It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, tax, and estate planning. The term often refers to the entire industry that provides financial services to individuals and households, and advises them about financial and investment opportunities.

Personal Finance Key Elements

insurance and finance

  • Few schools have courses in how to manage your money, so it is important to learn the basics through free online articles, courses, blogs, podcasts, or at the library.
  • Smart personal finance involves developing strategies that include budgeting, creating an emergency fund, paying off debt, using credit cards wisely, saving for retirement, and more.
  • Being disciplined is important, but it’s also good to know when to break the rules—for example, young adults who are told to invest 10% to 20% of their income for retirement may need to take some of those funds to buy a home or pay off debt instead.

Top 10 Most Important Personal Financial Strategies

Financial advisor with couple at home

  1. Device a Budget
  2. Create an Emergency Fund
  3. Limit Debt
  4. Use Credit Cards Wisely
  5. Monitor Your Credit Score
  6. Consider Your Family
  7. Pay Off Student Loans
  8. Plan and Save for Retirement
  9. Maximize Tax Breaks
  10. Reward Yourself

Top 10 Most Common Financial Mistakes

older couple retirement

  1. Excessive and Frivolous Spending
  2. Never-Ending Payments
  3. Living on Borrowed Money
  4. Buying a New Car
  5. Spending Too Much on Your House
  6. Using Home Equity Like a Piggy Bank
  7. Living Paycheck to Paycheck
  8. Not Investing in Retirement
  9. Paying Off Debt With Savings
  10. Not Having a Plan

*source: https://www.investopedia.com/personal-finance/

Looking for additional personal finance advice? Below you will find news, articles, and blogs from financial advisers offering great tips, do’s and don’ts, and financial advice.

    Feed has no items.