Over the years, we’ve gathered a lot of insight into personal finance—from sharing countless “I got out of debt” success stories to exploring research on how changing habits leads to smarter financial decisions.
Since it’s Financial Literacy Month, we thought it was the perfect time to compile our top 50 money tips into one detailed and helpful guide. From budgeting strategies to tips for increasing your income, these timeless pieces of advice are just as valuable today as when they were first shared.
Starting with the Basics
1. Set Up a Financial Calendar
If remembering to pay quarterly taxes or check your credit report feels overwhelming, treat these tasks like annual appointments. Set reminders for them, just as you would for a doctor’s visit or car maintenance. A great tool to help you get started is our ultimate financial calendar.
2. Pay Attention to Interest Rates
Which loan should you tackle first? The one with the highest interest rate. Which savings account should you choose? The one offering the best rate. Credit card debt feels endless because of compound interest. The takeaway? Understanding interest rates can help you prioritize paying off debt and choosing the right savings options.
3. Monitor Your Net Worth
Your net worth is the difference between what you own and what you owe. Keeping track of this number gives you a clear picture of your financial health and helps you measure progress toward your goals—or spot signs that you might be slipping backward.
Mastering Budgeting
4. Commit to a Budget
A solid budget is the foundation for all your financial goals. Use our detailed checklist to create a budget that works for you.
5. Try an All-Cash System
If overspending is a recurring issue, switch to cash for your purchases. Many people find that using cash makes them more mindful of their spending habits, leading to better control over their finances.
6. Take One Minute Each Day to Review Finances
LearnVest Founder Alexa von Tobel suggests dedicating just 60 seconds daily to review your transactions. This simple habit can help you catch mistakes early, track progress toward goals, and maintain a healthy spending mindset for the day ahead.
7. Allocate 20% of Your Income to Financial Priorities
Focus on building emergency savings, paying off debt, and growing your retirement funds. While 20% may seem high, prioritizing these areas is essential for long-term financial stability.
8. Use 30% of Your Income for Enjoyment
Set aside 30% of your income for entertainment and non-essential expenses like dining out or hobbies. This approach balances responsible saving with guilt-free spending.
Staying Motivated
9. Create a Financial Vision Board
Visualizing your financial goals can keep you inspired and focused. A vision board serves as a daily reminder of what you’re working toward.
10. Set Clear and Measurable Goals
Define your financial objectives using numbers and deadlines. For example, decide how much debt you’ll pay off by a specific date or the exact amount you’ll save by year-end.
11. Develop a Spending Mantra
Adopt a phrase that guides your purchases. For example, ask yourself, “Is this expense worth delaying my dream vacation?”
12. Value Yourself
Taking control of your finances is a way to invest in yourself. For instance, one author paid off $20,000 of debt by focusing on self-worth and viewing financial discipline as self-care.
13. Set Small, Achievable Goals
Breaking down large financial goals into smaller milestones makes them feel more attainable. For instance, save a set amount weekly for six months to fund a short-term goal like a vacation.
14. Replace Negative Thoughts with Positive Ones
Doubting your ability to succeed financially can become a self-fulfilling prophecy. Replace thoughts like “I’ll never pay off debt” with empowering affirmations that encourage progress.
By adopting these practical tips, you can take charge of your financial future and work toward a more secure and fulfilling life.
