1. Make savings automatic. This should be your top priority, especially if you don't have a solid emergency fund yet.
Make it the first bill you pay each payday by having a set amount that is automatically transferred from your checking account to your savings account.
Don't even think about this transaction, just make sure it happens, each and every payday.
2. Control your impulse spending. The biggest problem for many of us is impulse spending, and eating out, shopping, and online purchases are a big drain on our finances and a sure way to be in dire financial straits.
3. Eliminate and avoid debt. If you've got credit cards, personal loans, or other such debt, you need to start a debt elimination plan. List out your debts and arrange them in order from smallest balance at the top to largest at the bottom.
Then focus on the debt at the top, putting as much as you can into it, even if it's just $40-$50 extra. When that amount is paid off, celebrate!
Then take the total amount you were paying (say $70 minimum payment plus the $50 extra for a total of $120) and add that to the minimum payment of the next largest debt.
Continue this process, with your extra amount snowballing as you go along, until you pay off all your debts. This could take several months or even years, but it's a very rewarding process, and very necessary.
Now my 4th and (secret tip) is to educate yourself. The more you educate yourself, the better your finances will be.
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