Understanding personal finance, like making a plan for your money, saving, and knowing how to spend wisely, can make you feel safer. When people feel sure about handling money, they’re less likely to feel stressed or worried.
Making a plan for your money, called a budget, is a key step in handling your finances. It means keeping track oh how much money you have coming in and how much you spend. By deciding what’s most important to spend on and cutting out things you don’t really need, you can have more money to save or pay off debts.
Knowing about money helps you make smart choices, which can lower your stress levels. You can learn more about money by reading free stuff online, like articles and videos.
Money issues can cause fights in relationships. But if both people understand money and can calmly communicate, they can solve problems together. Also, doing things like investing your money or finding extra work can help.
Having some money set aside for emergencies, like sudden bills or losing a job, is really important. Try to save enough to cover your living costs for three to six months. And it’s smart to pay off debts with high interest, like credit cards, as quickly as you can.
There are numerous financial resources available to help you improve your financial literacy.
Government Websites include:
Nonprofit Organizations include:
Financial Websites and Blogs include:
There are countless books on personal finance including:
The Total Money Makeover by Dave Ramsey : to buy on Amazon, click here
Rich Dad Poor Dad by Robert T. Kiyosaki : to buy on Amazon, click here
The Millionaire Next Door by Thomas J. Stanley and William D. Danko: to buy Amazon, click here
Talking to someone about the stress you’re facing in your daily life can help you discover better ways to cope and improve your mental health. It’s like finding a more peaceful and useful way to deal with tough situations. Meet our staff and find who you would be most fitting with, click here!
I hope you all have a sun-filled weekend.
Sincerely,
Monique
References:
Consumer Financial Protection Bureau. (n.d.). Consumer Financial Protection Bureau. https://www.consumerfinance.gov/
Home – Jump$tart Coalition. (2024, May 1). Jump$Tart Coalition. https://www.jumpstart.org/
Investopedia. (2019, June 6). Investopedia. https://www.investopedia.com/
Making government services easier to find | USAGov. (n.d.). USA.gov. https://www.usa.gov/
National Endowment for Financial Education | NEFE. (n.d.). https://www.nefe.org/default.aspx?gad_source=1&gclid=Cj0KCQjwgJyyBhCGARIsAK8LVLPMZgUjq_nTgJC-Atl9CnahM7aRv8zme5JL2tR078eCiNSyUuatrl8aAsX6EALw_wcB
NerdWallet. (n.d.). Compare top credit cards, banks, and loans. https://www.nerdwallet.com/l/compare-financial-products-2g?bucket_id=sem-homepage-google+version&ds_rl=1246084&gad_source=1&gclid=Cj0KCQjwgJyyBhCGARIsAK8LVLN585_W49XPofEpR6vyibfz0fEYW8s-O6pExgcHibM3KKDJZAbl5XEaAgWNEALw_wcB&gclsrc=aw.ds&mktg_body=1678&mktg_hline=11649&mktg_place=kwd-40958987563&model_execution_id=4E7EC319-0607-4D31-87AA-56AEC2E01417&nw_campaign_id=150238270218585900&utm_campaign=cc_mktg_paid_060716_brand_exact&utm_content=ta&utm_medium=cpc&utm_source=goog&utm_term=nerdwallet
Schmeiser, M. D., & Hogarth, J. M. (2013). Good advice, Good Outcomes? How Financial Advice-Seeking Relates to Self-Perceived Financial Well-Being. Social Science Research Network. https://doi.org/10.2139/ssrn.2261707
The balance. (2018, January 8). The Balance. https://www.thebalancemoney.com/