As I wrap-up my 4-part series on Healthy Money Habits, I want to revisit the eight financial health habits I highlighted throughout the entire series.
- Pay yourself first.
The key to saving successfully is to save first, before paying bills and other expenses.
- Maintain an emergency fund.
Help buffer the effects of financial setbacks and avoid debt by maintaining a fund that will only be used for emergency situations.
- Check your finances weekly.
Set aside time to track any progress or setbacks toward your finances and goals.
- Read a financial article once a week.
Stay current on what is going on in the financial world by educating yourself about trends and happenings.
- Avoid carrying a credit card balance.
Pay off your credit card after every billing cycle to ensure this resource doesn’t become a distress.
- Learn to say ‘no’.
Differentiate between a need and a want, then learn to keep on your financial track by turning down unnecessary purchases.
- Get and stay insured.
As with maintaining an emergency fund, this habit helps to lessen the effects of life’s setbacks.
- Begin saving for retirement* early.
This is important at any age, but getting started sooner rather than later will be worth it at retirement age.
I hope you enjoyed my 4-part series on Healthy Money Habits, what was your favorite habit or tip takeaway? Thanks for reading Hills Helps!*Investment products are not a deposit, not FDIC insured, not insured by any federal government agency, carry no bank guarantee, and may go down in value.
View the complete 4-Part Healthy Money Habits Series:
• Part 1 – Pay Yourself First
• Part 2 – Avoiding Debt
• Part 3 – Insurance and Retirement
• Part 4 – Financial Maintenance
• Healthy Money Habits Series Wrap-Up