The more informed you are about managing money, the better decisions you can make.
1. Examine your budget
A seemingly small, yet incredibly important step is to assess your budget. Check to see if you’re staying consistent with it, and if it needs to be adjusted. Start one if you don’t have one. It’s one of the better ways to put your financial knowledge into daily practice.
2. Read up
There are countless books and magazines available that can help you learn more about money management. Listen to an audiobook while cleaning or going for a walk.
3. Use financial management tools
Stay organized with online finance tools that can help you track your spending, set budgets and plan your financial goals. Brush up on how to use spreadsheets that suit your organization style. (Note: you can print and do them on paper if that’s your preference.)
4. Take a class
Many post-secondary schools and community education programs offer online classes on personal finance. Sign up through the school or an online course provider to stay educated about topics like financing a house or planning for retirement.
5. Talk to a financial advisor
Meet regularly with your financial advisor to talk about any changes in your life that may impact your financial strategy.