Automate your finances. When you make things automatic, you remove the human element, making it more difficult for you to mess things up. The classic example is overdraft protection. By tying your checking account to your savings account, you have a safety net if you bounce a check. But there are other ways this can work for you. For example, set up automatic payments with the gas company, the cable company, and your auto insurance company. Additionally, make automatic investments to my retirement account.
Educate yourself. Knowledge is power. Personal finance doesn’t have to be a mystery. Subscribe to some finance blogs, such as:
I Will Teach You to Be Rich
Money Blog Network
LifeRemix Network
Finally, read personal finance books and self-development manuals, such as:
Debt is Slavery: and 9 Other Things I Wish My Dad Had Taught Me About Money
The Random Walk Guide To Investing
Why Smart People Make Big Money Mistakes And How To Correct Them: Lessons From The New Science Of Behavioral Economics
The Complete Tightwad Gazette
You don’t have to agree with everything in a book to get something out of it.
Final words - Taking control of your finances can be intimidating — there’s so much to do! — but it doesn’t have to be that way. Do what works for you. When you spend so much time looking for the “best” choice that you never actually do anything, you are sabotaging yourself. The good news is that you can get out of debt. You can save for retirement. Let's do it!
Good luck!
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