Practical Financial Guidelines
- Have an accurate picture of your net monthly income in relationship to your fixed monthly expenses.
- Spend less than you make.
- Monitor your credit report on a regular basis. You are entitled to a free report annually.
- Keep a list of all your credit cards and account numbers in a secure place.
- Review your monthly credit card charges on your statement for fraud.
- Reassess your insurance policies periodically to make sure you have appropriate coverage.
- Make purchases when 0% interest is offered for specific time periods and make sure that it is paid off within the given time period.
- Never give your personal information over the phone, in email, or on untrusted internet web sites.
- Have at least six months of your salary reserved in savings in case of unemployment.
- Be a deliberate shopper. Make a list before entering stores.
- It is never too early to start educating your children about finances. Include them in discussions about financial decisions.
