4 Ways to Manage Your Coins

Now more than ever it is very important to manage our money and how we spend it! Money management goes hand in hand with your credit score. The better you are at managing your money the better your credit will also be.

During uncertain times it is good to be certain of how and where we spend our money. Here are 5 ways to manage your money and ultimately your credit.

1.) Create a Budget- Knowing what your monthly expenses are and what you make a month is very important. You should know how much you make and how much a month you spend on your living expenses. Create a budget for yourself and make a plan to pay your bills on time and have some money leftover in your account each month.

2.) Consolidate Your Debt- If you have a lot of debt and bills you may look into consolidating your debts to keep them all in one place and make it easier for you to pay off. A good benefit of consolidating it into one payment is you can negotiate a lower interest rate and help you pay down your debt faster.

3.) Remove or Eliminate Unnecessary Expenses– We often spend money without realizing it. Look at where you are spending your money and eliminate or remove subscriptions or products and services that you do not need. Cut down on cable channels or beauty boxes and try not spending money on stuff you do not need.

4.) Create An Emergency Fund and Plan For Your Future- Having an emergency fund in place now more than ever is very important. We all need to plan for the future and prepare for unexpected events.

Along with setting up an emergency fund you need to plan for your future and set up some kind of retirement and investing for your future. Waiting for the government to take care of you with social security. It may or may not be there. So prepare now by setting up a 401 or other retirement plans for yourself.

Being in control of your financial portfolio and your money management will help you sleep better at night. It is one of the most important things you can do besides managing your credit score. Money management and credit go hand in hand.

Contact me today, if you are in need of fixing your credit score. This will greatly improve the quality of your life.