Always remember that the most important factor in using money wisely is not how much money you make…but how you use it! Here are 10 rules that can help you achieve financial success.
1. Arrange a family system for handling money and make certain that everyone in the family is involved and understands it.
2. Make a spending plan suited to your own income and needs. Don’t try to follow others – a spending plan is a personal system to help you and your family.
3. Decide on your family’s most important goals. Spend your money on things that will care for your family’s welfare and happiness. Take a minute to decide how important it really is to you and your family before you make the final purchase.
4. Plan ahead for the entire year. A financial picture of your entire year will be a great guide and can help to meet your family’s financial goals.
5. Include all of your income and expenses. It’s usually easy for families to determine their income, but getting a grasp on expenses can be more challenging. Keeping receipts will help you track what you spend more accurately.
6. Make the entire family aware of the plan. If every family member understands the family goals, they will work harder to accomplish them.
7. Pay yourself first by trying to save 10% of your income. If you can’t afford 10%, start with a smaller amount. Treat savings as a monthly bill.
8. Stick to your plan, but don’t be afraid to alter your program if you think it needs improvement. Never give up! Be determined and succeed.
9. Review your plan once a month.
10. Hold family meetings to review the progress together.
Need help getting started? As a member of Access Credit Union, we can help you and your family achieve your financial goals. From savings accounts, to debt consolidation programs, to re-financings, to debt counseling, we can help. For more information, please call the credit union at (708) 343-0228 or Contact Us.