1. Maintain a checking and savings account.
Be intentional about opening checking and savings accounts. Checking accounts are vital because you 'll need them for transactions, managing money and keeping it safe. Savings accounts are vital for keep money stashed away for different events such as travel, weddings, and holidays. Instead of splurging, put money away in the savings account and save for all of your purchases.
2. Use overdraft protection.
Overdraft protection is such a life-saver for anyone who 's not good with managing their money yet. If you 're still in the position where you 're getting the hang of money management, overdraft protection is a great investment. Overdraft fees are extremely high. They 're often $30-$40 every few days. Avoid paying exorbitant fees with this protection.
3. Know how to make and keep a budget.
Budgeting is essential to a successful financial life. If you find yourself constantly in a position where you 're wondering where your money went, it is important to utilize the beauty of a personal finance budget. This is important for knowing where your money is going and how to use it well.
4. Know your credit score.
Credit scores might seem scary. After all, credit scores are one of...
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...ass without doing two.
14. Find a personal finance mentor.
Just like you 'd get a mentor to help you in your professional life as you progress, the same applies to your finances. Once you 've set your goals of where you 'd like to see yourself financially, align yourself with someone who is where you 'd like to be. Don 't be afraid to pick their brain and ask them questions.
15. Be transparent with yourself about your financial situation.
When you write out a paper, there are normally subheadings for each major area. This helps you organize what 's going on. There should be a subheading for every financial move. You should know when certain financial moves need to be completed and what your situation looks like from a clear and honest perspective. The more honest you are, the more clear you 'll be. When you 're clear of what you want, you 'll get there faster!
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