Keep That Money in the Bank! Simple Ways to Get a Hold of Your Finances



Keep That Money in the Bank! Simple Ways to Get a Hold of Your Finances

By JESSICA REMITZ

Keep that money in the bank! Simple ways to get a hold of your finances. Everyone wants to be better about managing their money, but between hectic work schedules and long to-do lists, sitting down to figure out your finances can easily fall to the bottom of the priorities pile. Fortunately, we’ve brought the research to you, asking money management pros for their top tips on how to save more, pay down debt and bring in a little cash. Here’s what they recommend:

Know Where Your Money Goes

Before you start planning how to save, it’s essential to track your spending. Take a look at how much it costs to run your household each month, then see how much money you have left for discretionary spending, says Sophia Bera, CFP and founder of Gen Y Planning. If you notice any unnecessary debts or spending, try to pare down those expenses.

Got a pile of debt? Mary Beth Storjohann, CFP and founder of Workable Wealth, suggests either paying off the debts with the highest interest rate first, or tackling your smallest debts first and then, once they’re paid, moving on to the bigger ones. Websites like Mint and You Need a Budget can help you put together a monthly budget and track your spending.

Start Your Emergency Cushion Now

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Hot Moms Club was founded in 2005 and have had their fingers on the pulse of mom trends ever since. Their philosophy is simple, ‘You are not the best mom unless you are the BEST YOU!’

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