{"product_id":"50-personal-finance-tips-that-will-change-the-way-you-think-about-money","title":"50 Personal Finance Tips That Will Change the Way You Think About Money","description":"\u003cmeta charset=\"utf-8\"\u003e\n\u003cp\u003eWe’ve certainly amassed a wealth of knowledge over the years\u003cspan\u003e \u003c\/span\u003ecovering the money beat—be it the dozens of “I got out of debt” success stories we’ve featured to the scores of psychological studies we’ve covered linking better\u003cspan\u003e \u003c\/span\u003efinancial decision-making\u003cspan\u003e \u003c\/span\u003eto behavior change.\u003c\/p\u003e\n\u003cp\u003eSo given that it’s Financial Literacy Month, we’ve decided that there is no better time than now to round up our 50 top money tips into one juicy, super-helpful read. From the best ways to budget to how to boost your earning potential like a pro, these nuggets of financial wisdom are as fresh as the day they were published.\u003c\/p\u003e\n\u003cdiv class=\"advice-recirc-experiment-nov__top\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eFirst Things First: A Few Financial Basics\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e1. Create a Financial Calendar\u003c\/h3\u003e\n\u003cp\u003eIf you don’t trust yourself to remember to pay your quarterly taxes or periodically pull a credit report, think about setting appointment reminders for\u003cspan\u003e \u003c\/span\u003ethese important money to-dos\u003cspan\u003e \u003c\/span\u003ein the same way that you would an annual doctor’s visit or car tune-up. A good place to start? Our\u003cspan\u003e \u003c\/span\u003eultimate financial calendar.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e2. Check Your Interest Rate\u003c\/h3\u003e\n\u003cp\u003eQ: Which loan should you\u003cspan\u003e \u003c\/span\u003epay off first? A: The one with the highest interest rate. Q: Which savings account should you open? A: The one with the best interest rate. Q: Why does credit card debt give us such a headache? A: Blame it on the compound interest rate. Bottom line here: Paying attention to interest rates will help inform which debt or savings commitments you should focus on.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e3. Track Your Net Worth\u003c\/h3\u003e\n\u003cp\u003eYour net worth—the difference between your assets and debt—is the big-picture number that can tell you\u003cspan\u003e \u003c\/span\u003ewhere you stand financially. Keep an eye on it, and it can help keep you apprised of the progress you’re making toward your financial goals—or warn you if you’re backsliding.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Budget Like a Pro\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e4. Set a Budget, Period\u003c\/h3\u003e\n\u003cp\u003eThis is the\u003cspan\u003e \u003c\/span\u003estarting point\u003cspan\u003e \u003c\/span\u003efor every other goal in your life. Here’s a checklist for building\u003cspan\u003e \u003c\/span\u003ea knockout personal budget.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e5. Consider an All-Cash Diet\u003c\/h3\u003e\n\u003cp\u003eIf you’re consistently overspending, this will break you out of that rut. Don’t believe us? The cash diet changed the lives of\u003cspan\u003e \u003c\/span\u003ethese three people. And when\u003cspan\u003e \u003c\/span\u003ethis woman\u003cspan\u003e \u003c\/span\u003ewent all cash, she realized that it wasn’t as scary as she thought. Really.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e6. Take a Daily Money Minute\u003c\/h3\u003e\n\u003cp\u003eThis one comes straight from LearnVest Founder and CEO Alexa von Tobel, who swears by setting aside one minute each day to check on her financial transactions. This 60-second act helps identify problems immediately, keep track of goal progress—and set your spending tone for the rest of the day!\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e7. Allocate at Least 20% of Your Income Toward Financial Priorities\u003c\/h3\u003e\n\u003cp\u003eBy priorities, we mean building up emergency savings, paying off debt, and padding your retirement nest egg. Seem like a big percentage? Here’s why we\u003cspan\u003e \u003c\/span\u003elove this number.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e8. Budget About 30% of Your Income for Lifestyle Spending\u003c\/h3\u003e\n\u003cp\u003eThis includes movies, restaurants, and happy hours—basically, anything that doesn’t cover basic necessities. By abiding by the 30% rule, you can\u003cspan\u003e \u003c\/span\u003esave and splurge\u003cspan\u003e \u003c\/span\u003eat the same time.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Get Money Motivated\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e9. Draft a Financial Vision Board\u003c\/h3\u003e\n\u003cp\u003eYou need motivation to start adopting better money habits, and if you craft a vision board, it can help remind you to stay on track with your financial goals.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e10. Set Specific Financial Goals\u003c\/h3\u003e\n\u003cp\u003eUse numbers and dates, not just words, to describe what you\u003cspan\u003e \u003c\/span\u003ewant to accomplish\u003cspan\u003e \u003c\/span\u003ewith your money. How much debt do you want to pay off—and when? How much do you want saved, and by what date?\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e11. Adopt a Spending Mantra\u003c\/h3\u003e\n\u003cp\u003ePick out a positive phrase that acts like a mini rule of thumb for how you spend. For example, ask yourself, “Is this [fill in purchase here] better than Bali next year?” or “I only charge items that are $30 or more.”\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e12. Love Yourself\u003c\/h3\u003e\n\u003cp\u003eSure, it may sound corny, but it works. Just ask\u003cspan\u003e \u003c\/span\u003ethis author, who paid off $20,000 of debt after realizing that taking control of her finances was a way to value herself.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e13. Make Bite-Size Money Goals\u003c\/h3\u003e\n\u003cp\u003eOne study showed that the farther away a goal seems, and the less sure we are about when it will happen, the more likely we are to give up. So in addition to focusing on big goals (say, buying a home), aim to also\u003cspan\u003e \u003c\/span\u003eset smaller, short-term goals\u003cspan\u003e \u003c\/span\u003ealong the way that will reap quicker results—like saving some money each week in order to take a trip in six months.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e14. Banish Toxic Money Thoughts\u003c\/h3\u003e\n\u003cp\u003eHello, self-fulfilling prophecy! If you psych yourself out before you even get started (“I’ll never pay off debt!”), then you’re setting yourself up to fail. So don’t be a fatalist, and switch to more positive mantras.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e15. Get Your Finances–and Body—in Shape\u003c\/h3\u003e\n\u003cp\u003eOne study showed that\u003cspan\u003e \u003c\/span\u003emore exercise leads to higher pay\u003cspan\u003e \u003c\/span\u003ebecause you tend to be more productive after you’ve worked up a sweat. So taking up running may help amp up your financial game. Plus, all the habits and discipline associated with, say, running marathons are also associated with managing your money well.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e16. Learn How to Savor\u003c\/h3\u003e\n\u003cp\u003eSavoring means appreciating what you have now, instead of trying to get happy by acquiring more things.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e17. Get a Money Buddy\u003c\/h3\u003e\n\u003cp\u003eAccording to\u003cspan\u003e \u003c\/span\u003eone study, friends with similar traits can pick up good habits from each other—and it applies to your money too! So try gathering several friends for regular money lunches, like this woman did,\u003cspan\u003e \u003c\/span\u003epaying off $35,000 of debt\u003cspan\u003e \u003c\/span\u003ein the process.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Amp Up Your Earning Potential\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e18. When Negotiating a Salary, Get the Company to Name Figures First\u003c\/h3\u003e\n\u003cp\u003eIf you give away your current pay from the get-go, you have no way to know if you’re lowballing or highballing. Getting a potential employer to name the figure first means you can then push them higher.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e19. You Can Negotiate More Than Just Your Salary\u003c\/h3\u003e\n\u003cp\u003eYour work hours, official title, maternity and paternity leave, vacation time, and which projects you’ll work on could all be things that a future employer may be willing to negotiate.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e20. Don’t Assume You Don’t Qualify for Unemployment\u003c\/h3\u003e\n\u003cp\u003eAt the height of the recent recession, only half of people eligible for unemployment applied for it. Learn the\u003cspan\u003e \u003c\/span\u003erules of unemployment.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e21. Make Salary Discussions at Your Current Job About Your Company’s Needs\u003c\/h3\u003e\n\u003cp\u003eYour employer doesn’t care whether you want more money for a bigger house—it cares about keeping a good employee. So when negotiating pay or asking for a raise, emphasize the\u003cspan\u003e \u003c\/span\u003eincredible value\u003cspan\u003e \u003c\/span\u003eyou bring to the company.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Keep Debt at Bay\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e22. Start With Small Debts to Help You Conquer the Big Ones\u003c\/h3\u003e\n\u003cp\u003eIf you have a mountain of debt,\u003cspan\u003e \u003c\/span\u003estudies show\u003cspan\u003e \u003c\/span\u003epaying off the\u003cspan\u003e \u003c\/span\u003elittle debts\u003cspan\u003e \u003c\/span\u003ecan give you the confidence to tackle the larger ones. You know, like paying off a modest balance on a department store card before getting to the card with the bigger balance. Of course, we generally recommend chipping away at the card with the highest interest rate, but sometimes psyching yourself up is worth it.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e23. Don’t Ever Cosign a Loan\u003c\/h3\u003e\n\u003cp\u003eIf the borrower—your friend, family member, significant other, whoever—misses payments, your credit score will take a plunge, the lender can come after you for the money, and it will likely destroy your relationship. Plus, if the bank is requiring a cosigner, the bank doesn’t trust the person to make the payments. Bonus tip for parents: If you’re asked to cosign a private loan for\u003cspan\u003e \u003c\/span\u003eyour college student, first check to see if your kid has maxed out federal loan, grant, and scholarship options.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e24. Every Student Should Fill Out the FAFSA\u003c\/h3\u003e\n\u003cp\u003eEven if you don’t think that you’ll get aid, it doesn’t hurt to fill out the form. That’s because 1.3 million students last year missed out on a Pell Grant—which doesn’t need to be paid back!—because they didn’t fill out the form.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e25. Always Choose Federal Student Loans Over Private Loans\u003c\/h3\u003e\n\u003cp\u003eFederal loans have flexible terms of payment if your employment dreams don’t exactly go according to plan after college. Plus, federal loans typically have better interest rates. So be smart about\u003cspan\u003e \u003c\/span\u003ethe loans you take out—and try to avoid\u003cspan\u003e \u003c\/span\u003ethese other big student loan mistakes.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e26. If You’re Struggling With Federal Student Loan Payments, Investigate Repayment Options\u003c\/h3\u003e\n\u003cp\u003eJust call up your lender and ask whether they offer graduated, extended, or income-based plans. Read more about\u003cspan\u003e \u003c\/span\u003ethese options here.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e27. Opt for Mortgage Payments Below 28% of Your Monthly Income\u003c\/h3\u003e\n\u003cp\u003eThat’s a general rule of thumb when you’re trying to figure out how much house you can afford.\u003cspan\u003e \u003c\/span\u003eLearn more about this number here. And then indulge in some voyeurism and\u003cspan\u003e \u003c\/span\u003esee what other couples can afford.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Shop Smart\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e28. Evaluate Purchases by Cost Per Use\u003c\/h3\u003e\n\u003cp\u003eIt may seem more financially responsible to buy a trendy $5 shirt than a basic $30 shirt—but only if you ignore the quality factor! When deciding if the latest tech toy, kitchen gadget, or apparel item is worth it, factor in how many times you’ll use it or wear it. For that matter, you can even consider cost per hour for experiences!\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e29. Spend on Experiences, Not Things\u003c\/h3\u003e\n\u003cp\u003ePutting your money\u003cspan\u003e \u003c\/span\u003etoward purchases\u003cspan\u003e \u003c\/span\u003elike a concert or a picnic in the park—instead of spending it on pricey material objects—gives you more happiness for your buck. The research\u003cspan\u003e \u003c\/span\u003esays so.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e30. Shop Solo\u003c\/h3\u003e\n\u003cp\u003eEver have a friend declare, “That’s so cute on you! You have to get it!” for everything you try on? Save your socializing for a walk in the park, instead of a stroll through the mall, and treat shopping with serious attention.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e31. Spend on the Real You—Not the Imaginary You\u003c\/h3\u003e\n\u003cp\u003eIt’s easy to fall into the trap of buying for\u003cspan\u003e \u003c\/span\u003ethe person you want to be: chef, professional stylist, triathlete.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e32. Ditch the Overdraft Protection\u003c\/h3\u003e\n\u003cp\u003eIt sounds nice, but it’s actually a way for banks to tempt you to overspend, and then charge a fee for the privilege.\u003cspan\u003e \u003c\/span\u003eFind out more about overdraft protection\u003cspan\u003e \u003c\/span\u003eand\u003cspan\u003e \u003c\/span\u003eother banking mistakes to avoid.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Save Right for Retirement\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e33. Start Saving ASAP\u003c\/h3\u003e\n\u003cp\u003eNot next week. Not when you get a raise. Not next year. Today. Because money you put in your retirement fund now will have\u003cspan\u003e \u003c\/span\u003emore time to grow\u003cspan\u003e \u003c\/span\u003ethrough the power of compound growth.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e34. Do Everything Possible Not to Cash Out Your Retirement Account Early\u003c\/h3\u003e\n\u003cp\u003eDipping into\u003cspan\u003e \u003c\/span\u003eyour retirement funds\u003cspan\u003e \u003c\/span\u003eearly will hurt you many times over. For starters, you’re negating all the hard work you’ve done so far saving—and you’re preventing that money from being invested. Second, you’ll be penalized for an early withdrawal, and those penalties are usually pretty hefty. Finally, you’ll get hit with a tax bill for the money you withdraw. All these factors make cashing out early a very last resort.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e35. Give Money to Get Money\u003c\/h3\u003e\n\u003cp\u003eThe\u003cspan\u003e \u003c\/span\u003efamous 401(k) match\u003cspan\u003e \u003c\/span\u003eis when your employer contributes money to your retirement account. But you’ll only get that contribution if you contribute first. That’s why it’s called a match, see?\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e36. When You Get a Raise, Raise Your Retirement Savings, Too\u003c\/h3\u003e\n\u003cp\u003eYou know how you’ve always told yourself you would save more when you have more? We’re calling you out on that. Every time you get a bump in pay, the first thing you should do is up your automatic transfer to savings, and increase your retirement contributions. It’s just one step in our checklist for starting to\u003cspan\u003e \u003c\/span\u003esave for retirement.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Best Build—and Track—Your Credit\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e37. Review Your Credit Report Regularly—and Keep an Eye on Your Credit Score\u003c\/h3\u003e\n\u003cp\u003eThis woman\u003cspan\u003e \u003c\/span\u003elearned the hard way\u003cspan\u003e \u003c\/span\u003ethat a less-than-stellar credit score has the potential to cost you thousands. She only checked her credit report, which seemed fine—but didn’t get her actual credit score, which told a different story.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e38. Keep Your Credit Use Below 30% of Your Total Available Credit\u003c\/h3\u003e\n\u003cp\u003eOtherwise known as your credit utilization rate, you calculate it by dividing the total amount on all of your credit cards by your total available credit. And if you’re using more than 30% of your available credit, it can ding\u003cspan\u003e \u003c\/span\u003eyour credit score.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e39. If You Have Bad Credit, Get a Secured Credit Card\u003c\/h3\u003e\n\u003cp\u003eA secured card helps\u003cspan\u003e \u003c\/span\u003ebuild credit\u003cspan\u003e \u003c\/span\u003elike a regular card—but it won’t let you overspend. And you don’t need good credit to get one! Here’s\u003cspan\u003e \u003c\/span\u003eeverything you need to know\u003cspan\u003e \u003c\/span\u003eabout secured credit cards.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Get Properly Insured\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e40. Get More Life Insurance on Top of Your Company’s Policy\u003c\/h3\u003e\n\u003cp\u003eThat’s because the basic policy from your employer is often far too little. Not convinced? Read how extra life insurance\u003cspan\u003e \u003c\/span\u003esaved one family.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e41. Get Renters Insurance\u003c\/h3\u003e\n\u003cp\u003eIt, of course, covers robberies, vandalism, and natural disasters, but it could also cover things like the medical bills of people who get hurt at your place, damages you cause at someone else’s home, rent if you have to stay somewhere else because of damage done to your apartment—and even stuff stolen from a storage unit. Not bad for about $30 a month!\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Prepare for Rainy (Financial) Days\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e42. Make Savings Part of Your Monthly Budget\u003c\/h3\u003e\n\u003cp\u003eIf you wait to put money aside for when you consistently have enough of a cash cushion available at the end of the month, you’ll never\u003cspan\u003e \u003c\/span\u003ehave money to put aside! Instead, bake monthly savings into your budget now. Read more on this and\u003cspan\u003e \u003c\/span\u003eother big savings mistakes—and how to fix them.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e43. Keep Your Savings Out of Your Checking Account\u003c\/h3\u003e\n\u003cp\u003eHere’s a universal truth: If you see you have money in your checking account, you will spend it. Period. The fast track to building up savings starts with opening\u003cspan\u003e \u003c\/span\u003ea separate savings account, so it’s less possible to accidentally spend your vacation money on another late-night online shopping spree.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e44. Open a Savings Account at a Different Bank Than Where You Have Your Checking Account\u003c\/h3\u003e\n\u003cp\u003eIf you keep both your accounts at the same bank, it’s easy to transfer money from your savings to your checking. Way too easy. So avoid the problem—and\u003cspan\u003e \u003c\/span\u003ethese other money pitfalls.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e45. Direct Deposit is (Almost) Magic\u003c\/h3\u003e\n\u003cp\u003eWhy, you ask? Because it makes you feel like the money you shuttle to your savings every month appears out of thin air—even though you know full well it comes from your paycheck. If the money you allot toward savings never lands in your checking account, you probably won’t miss it—and may even be pleasantly surprised by how much your account grows over time. Find out\u003cspan\u003e \u003c\/span\u003eother ways to get your emergency fund started.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e46. Consider Switching to a Credit Union\u003c\/h3\u003e\n\u003cp\u003eCredit unions\u003cspan\u003e \u003c\/span\u003earen’t right for everyone, but they could be the place to go for better customer service, kinder loans, and better interest rates on your savings accounts.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e47. There Are 5 Types of Financial Emergencies\u003c\/h3\u003e\n\u003cp\u003eHint: A wedding isn’t one of them. Only dip into your\u003cspan\u003e \u003c\/span\u003eemergency savings account\u003cspan\u003e \u003c\/span\u003eif you’ve lost your job, you have a medical emergency, your car breaks down, you have emergency home expenses (like a leaky roof), or you need to travel to a funeral. Otherwise, if you can’t afford it, just say no.\u003cspan\u003e \u003c\/span\u003eWe explain more here.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e48. You Can Have Too Much Savings\u003c\/h3\u003e\n\u003cp\u003eIt’s rare, but possible. If you have more than six months’ savings in your emergency account (nine months if you’re self-employed), and you have enough socked away for your short-term financial goals, then start thinking about investing.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch2\u003eHow to Approach Investing\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e49. Pay Attention to Fees\u003c\/h3\u003e\n\u003cp\u003eThe fees you pay in your funds, also called expense ratios, can eat into your returns. Even something as seemingly low as a 1% fee will cost you in the long run. Our general recommendation is to stick with low-cost index funds.\u003c\/p\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e50. Rebalance Your Portfolio Once a Year\u003c\/h3\u003e\n\u003cp\u003eWe’re not advocates of playing the market, but you need to take a look at your brokerage account every once in a while to make sure that your investment allocations still match your greater investing goals.\u003cspan\u003e \u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e","brand":"Diva calzado","offers":[{"title":"Default Title","offer_id":32974722498604,"sku":"","price":250.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0322\/6494\/5708\/products\/download.jpg?v=1584744948","url":"https:\/\/diva-calzado.myshopify.com\/products\/50-personal-finance-tips-that-will-change-the-way-you-think-about-money","provider":"Diva calzado","version":"1.0","type":"link"}