Money can sometimes be an intimidating topic, but we believe that you should be empowered about your finances. Improving your financial literacy can help you feel more confident and in control of your money, and there are several easy ways to get started.
1. TRACK YOUR SPENDING
For those of you who prefer tech-friendly routines, apps such as Mint and YNAB are great tools to help you track your daily spending, set budget goals, and see where your money is going. If apps aren’t really your thing, tracking by hand is always great way to analyze your budget. Grab yourself a notebook or binder, and each time you spend money, write down the amount, as well as the type of purchase it is (food, bills, gifts, etc.). Daily tracking can be tedious, but it’s empowering to know exactly where your money is going.
2. REVIEW YOUR FINANCES MONTHLY
At the end of each month, look at your bank account and your spending log for the last month, and look at where your money is actually going. You can take this time to determine if too much of your money is going toward unnecessary or frivolous items, catch and cancel any subscriptions you no longer need, and notice if there are any charges on your account that you don’t recognize. Then, prepare your budget for the next month, and set goals for how you plan to spend and save your money.
3. CONSUME FINANCIAL LITERATURE
There are so many great resources these days that can teach us about money. If you prefer listening to a podcast during your commute try out the Dave Ramsey Podcast or So Money. If you like reading short articles with your morning coffee, browse Forbes or goodfinancialcents.com. If you’d rather read an insightful book on a Sunday afternoon, check out The Automatic Millionaire or Why Didn’t They Teach Me This In School? There is a plethora of valuable financial information at your fingertips that can help you improve your financial literacy.
4. JOIN ZOOMERAL
At Zoomeral, we believe that you deserve to have the best financial opportunities possible, and we’re here to help you reach them. If you’re looking for a loan, we ensure that you find the best lender for your needs without the inflated interest rate and issues that come with big banks. We provide financial advice and education, and make sure that you are in control of your money. To learn more about what Zoomeral can do for you, click here.