Financial Tips

There are basics to personal finance that everyone seems to know.  Save money, make a budget, and so on.  We all know the basics of what she should do for personal finance; still we do not always do it.  There are things about personal finance that maybe you do not know. 
Obviously savings is supposed to be priority number one.  Experts say that you should put ten percent into a savings account prior to doing anything else with your money.  If you have direct deposit you have the ability to decide to put a certain percent from your check to your savings account with the rest going into your checking account. If you do not have to think about having to save makes it much easier to save.  Ten percent is fine but maybe you cannot do that much, maybe you can do more.  You need to decide what amount you can afford out of every check and get your savings going.
It may seem overly obvious to tell you to spend less than you make.  It needs to be said though, many Americans spend more than they make, living outside their means.  It seems like it would be a no brainer, so why do we continue to spend more than we make?  No matter what they answer is, it should stop.  You should focus on spending less and saving more.
Do what you can to avoid taking on new debt.  If you get paid tomorrow but you need gas today and you have no money but you do have a credit card that is one thing, going out on a shopping spree and putting it on your credit card is a different matter.  Do your best to avoid taking on new debt unless there is no other option.  There are times that it is avoidable; however there are times where it is unavoidable and you just have no choice.
You have probably been told more times than you care to count that you need to have a budget.  Whoever told you that you needed to create one was right.  It is extremely important to create a budget and live by it.  Never stray from your budget, it is what is going to help you save money for retirement or whatever you need to save for.
You need to have an emergency fund, this needs to be in a separate account than your savings account.  Most experts agree that six months worth of income is what is best for an emergency fund.  You never know what the future will bring so you need to make sure that you are ready.  If you were to lose your source of income you would be very glad to have an emergency account. 
These are the basics to personal finance.  They are important and should be a considerable part of your life.   Do not put off doing any of these things.  Many times people think that they will get around to it later then never do.  Make sure that you do what you need to do to make sure that your personal finances are where you want him to be.

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