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Money Management: 4 Tips for Mastering Your Finances

nerdwallet.com
submitted
a year ago
bygetthatmoneyyotopersonalfinance

Summary

Money management is about more than making the math work out. It’s about adjusting your mindset, too. Here are money management tips to help you gain control and peace of mind. If you’re not sure how to budget, start by choosing a system that you”ll stick with.

Money management goes beyond spending less than you make. A true sign of financial prowess is saving enough to live comfortably in the long term. Start socking away extra money to build an emergency fund. Set yourself up for retirement by contributing to a 401(k) or IRA.

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4 Comments

4
boredgamer
a year ago
Budget is 80% of the struggle. Once you get that in place, everything is easy.
2
practicalmagic
a year ago
Planning for a minimum 15% savings rate and then leaving the rest to be spent is the easiest way to go about this. Keep your spending to 85% of your take home and it becomes a no brainer.
3
bambam
a year ago
I don't know that I'd call it easy. Sticking to the budget is hard to get into.
1
joseph
a year ago
Inflation is making this harder and harder