Best Personal Finance Tips for Beginners and Beyond

Ready to get started? These 29 personal finance tips below blend various categories of finances like budgeting, saving, investing, and more.

1. Create a Simple Budget

A budget gives you the big picture of how you are spending, what income you are bringing in, etc.

Now, your budget and net worth might give you some insight, but I like to write down all my current debt separately. Not only the total amounts, but interest rates, amount of the minimum payments, loan length, etc.

2. Write Down All Your Debt

With social media, trying to keep up with friends, and our consumer mentality, we fall into a trap of overspending on things we don’t really need to keep up appearances. It’s okay to live comfortably, but don’t live beyond your means.

3. Slow Down Your Lifestyle: LBYM

Understanding your credit scores and credit report is another important personal finance tip for beginners. Credit Karma is free and doesn’t hurt your score to look at your reports.

4. Maximize Your Credit Score

When just getting started with your personal finances, you need to create a savings plan and actually stick to it.

5. Create A Savings Plan (And Stick to It)

Too many times you pay everything else first (like bills), and then by end of the month, there is hardly anything for you to save. If you reverse the roles, you are more money-conscious to pay your bills on time and reduce frivolous spending.

6. Start Paying Yourself First

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