Almost everyone’s finances can use a little cleaning. So whether your finances just track a little dirt into the room or have you wading hip deep in muck, below are 10 practices that can clean you up.
1. Know your numbers. Your income and expenses, credit score, interest rates you pay and earn, etc. When it comes to money, knowledge truly is power.
2. Keep it separate. If you run a business, don’t mix personal and business finances.
3. Know your type. Knowing if you tend to be a spender, saver or avoider helps you steer clear of default behavior.
4. Don’t spend what you don’t have. Sound advice that many ignore–and regret.
5. Save, no matter what. Even if you save only a few dollars at first, what counts is the habit.
6. Stay organized. Physical clutter contributes to mental clutter, which exacerbates financial avoidance.
7. Create a monthly spending plan. The plan keeps you aware of disparities between income and expenses.
8. Bank/pay bills online. The benefits of 24/7 access outweigh perceived security risks.
9. Be card-conscious. Pay off purchases every month or pay your card BEFORE you make a purchase.
10. Find a money tracking system–and stick to it! Consistent action is more important than the system you choose.