Managing personal finances can be challenging, especially when you haven’t had much experience or education in this area. However, with the right strategies and tools, ANYONE can take control of their finances and improve their financial well-being. In this post, we’ll share some practical tips and resources that can help anyone to begin to manage their money more effectively. When I first started learning about personal finance, I was always looking for simple, quick solutions or actions that would just magically give me more money in my pocket. Unfortunately, it took me a few years to realize that it really is the basics that have turned my finances around. I’d like to share some of those tips with you so that you can reduce your stress around the topic of money and not need to worry so much between paychecks.

1. Keep it simple: If you find personal finance jargon and concepts confusing, focus on the basics. Start by creating a budget that outlines your income and expenses, and track your spending to ensure that you stay within your budget. Use simple tools such as spreadsheets or budgeting apps to help you manage your finances. Trust me, it is so much easier than you think! Here is a short, how-to video on making a basic budget that I found useful.
2. Build a savings habit: Even if you’re on a low income, it’s important to save money for emergencies and future goals. Start by setting aside a small amount of money each month, and gradually increase your savings over time. I found the most pain-free way to do this 100% of the time is to simply AUTOMATE the saving. You can do this buy setting up an automatic deposit from your account into a savings account. I do this on payday so that I don’t even SEE the money being moved into savings; its like it was never there (but it appears in your future!). Here’s a quick article I found that explains how to do this and provides other great info.
3. Avoid debt traps: This is a BIG one. High-interest debt can quickly spiral out of control and lead to disaster. If you need to borrow money, look for low-interest options such as personal loans or credit cards with low interest rates. Avoid payday loans, car title loans, and other high-cost forms of borrowing. Credit card debt can really hold you back from becoming financially stable as it compounds over time.
4. Seek out resources: There are many resources available to help individuals improve their financial literacy and skills. Look for free or low-cost workshops, classes, and online resources that can help you learn about personal finance, budgeting, and investing. YouTube is an incredible resource for free information and tips.
5. Get help if needed: If you’re struggling with debt, financial hardship, or other financial issues, don’t be afraid to seek help. Look for nonprofit organizations, credit counseling services, and other resources that can provide you with guidance and support.

By following these simple tips, you can begin your personal finance journey and take control of their finances one small step at a time. It may take time and effort, but the benefits of financial stability and security are well worth it. Remember, anyone can learn to manage their money effectively with the right strategies and tools. You will be eternally grateful to yourself next year because you started today. Create the life that you want and deserve now.