9 Ways to Master Your Money

Article Reprinted Courtesy of Balance Financial Fitness Program

Money growing in soil , Business success concept.

Set Specific Goals

Saving tends to be easier when you have a certain purpose in mind: Saving for your first house, retirement at a certain age, a child’s college education, or even a trip around the world. The important thing is to be specific.

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It’s a Money Thing: Bank or Credit Union?

01_F_Social_03_USWhat was the very first financial choice you ever made? Think about it.

It likely took place before your first job, even as far back as when your annual income consisted of Tooth Fairy money and lucky pennies. The very first financial decision you ever made is also one of the most important choices, it’s where to keep your money.

When you first made that decision, piggy banks, sock drawers, and “buried-in-the-sandbox-like-pirate-treasure” all seemed like perfectly acceptable options. As it turns out, they aren’t nearly as super-secret as you might have hoped. Opening a bank account is the best solution, but in order to do that you first need to choose a financial institution—and so the choice becomes “bank or credit union?”

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It’s a Money Thing: Emergency Fund Bootcamp

An emergency fund is an essential part of your personal finances. Its importance is stressed in almost every personal finance book and budgeting blog, and yet 26% of Americans currently have no emergency fund in place. Of those who do have an emergency fund, up to two-thirds do not have the often-recommended six months’ worth of expenses saved up.

If an emergency fund is, in fact, so important, why doesn’t it seem that way? Why is it so easy to procrastinate on emergency-fund saving? Learn more in this video.

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