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Managing your finances can seem complex. The good news
is, with a solid understanding of some basic financial
management principles, you can manage your finances
with confidence.
Budgeting
Budgeting is a powerful financial management tool.
A good budget should include:
- Income from all sources
- Expenses, including:
- Housing
- Utilities
- Insurance
- Car expenses - payment, gas, insurance and maintenance
- Food
- Entertainment
- Clothing
- Medical expenses
- Savings
Use our Budgeting
Worksheet to develop a budget that works for you.
Keeping Good Records
Basic financial recordkeeping should include:
- A spending log that helps you keep track
of the money you spend day-to-day
- A record of all bills paid, including the
payee, date, amount and method of payment
- Income records, such as paycheck stubs
- Tax records, including tax returns, W-2s,
1099s and deductible items such as charitable contributions
- Insurance records, including car, home,
health and life insurance
- Detailed checking account records, either
on paper or online
- Savings & investment account records, including
statements and transaction confirmations
Borrowing Wisely
Borrowing can be a great tool to help you achieve your
goals - for example, buying a house or a car. Learn
more about borrowing wisely.
Building Good Credit
Good credit is one of the most important financial
tools you can have. With it, you can borrow as needed
to help achieve your goals. Without it, borrowing may
be difficult and costly. Learn
more about building good credit.
Saving for Your Future
Whatever your goals - a home, a college education,
or a dream vacation - a disciplined savings plan will
help make them happen. Learn
more about saving for your future.
Banking Safely
It's important to take steps to protect yourself at
an ATM, and to protect your financial information and
your identity.
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