Finance Tips That Will Make you Take Action Today

Looking for finance tips that can help boost your finances? These are some insanely helpful money tips (that you’ll wish you’d known sooner).

Asking for money advice is the best thing you can do for your finances. And if you are anything like me, you are probably doing all the research you can, so you can WIN with money!

As someone who knew nothing about money, like seriously NOTHING…I’m giving you the top finance tips that I now swear by.

And, I KNOW I’m not the only one that just knew how to spend money and nothing else!

EVERYONE makes money mistakes. But it’s how you deal with it that will get you out of the cycle.

That’s why, you are going to learn all about the best money management tips. That means you’ll learn solid finance tips and tricks that might just be a total game changer for your personal finances.

This post is all about life changing finance tips that you should try today.

Easy Finance Tips You Can Implement Today:

Best Personal Financial Management Tips

Start With Self-Education

In his book ChooseFI, Chris talks about developing a growth mindset. That means you should continue learning and growing. Those with a growth mindset tend to embrace change and challenges. And be ok with being uncomfortable.

While people with a fixed mindset tend to shy away from the unknown, fear failure, avoid challenge and try to look good in every situation.

If you want to have a growth mindset, you have to continue learning all you can especially about personal finance. That’s how you’ll become better at managing your own money.

There are plenty of free resources. That book I mentioned, I rented it for free from my local library. That means you can do the same thing.

There are plenty of personal finance books you can rent for free from your local library and learn all you can about saving and investing. And the best part is, (it doesn’t have to cost you money!!)

Other fun financial tips that you can implement today is listening to personal financial podcasts.

My personal favorites are Dave Ramsey, Suze Orman, ChoosFi, and the Rachel Cruze Show. And they are all free!

Listening to personal finance podcasts will definitely boost your knowledge on how to pay off debt, save money, and invest money.

Adopting a growth mindset can be the most transformational and beneficial thing you can do for yourself.

The sooner you start learning all you can about some money basics, the sooner you’ll start creating a plan for your money.

Finance Tips for Beginners

It is crucial for you to get on a written budget.

Learning how to budget will catapult your finances in the best way possible. You’ll feel more in control of your money.

Most importantly, you can see your progress faster. And, like Dave Ramsey always says “A budget will make you feel like you got a raise.”

Knowing exactly where all your money is going can help you achieve all your money goals.

{READ: A Step-by-Step Guide On How To Budget}

Dave Ramsey suggests doing a zero-based budget. That means every dollar is accounted for and it’s going to be spent for a specific need. Here’s how to do a zero-based budget this week.

Simple Money Management Tips

Spend Less than You Make

This is one of the simplest finance tips you’ll ever hear. But, it is by far the hardest to implement!Especially since we are constantly bombarded by shiny objects ALL the time.

But, seriously spending less than you make is the WAY to build wealth faster. Because if you don’t spend all the money you make, you’ll actually have money.

Spending less than you make gives you room in your budget to the decide what to do with the leftover money.

Not spending all your money, gives you the opportunity to pay down debt, save, and invest. Imagine all the financial goals you can accomplish if you applied this to yourself.

Surprisingly, spending ALL of your paycheck, will always keep you broke. Once, I learned this, it was a like a light switch went off. And it was game time. I would dare myself to spend as little as I possibly could and save the rest of my paycheck.

That strategy, over time, it’s what helped me get out of the paycheck to paycheck cycle.

Start Saving

I’m sure saving is not your top priority right now. Still, get into the habit of saving part of your paycheck.

Even if you are still in debt, you should consider automatically saving at least 10% of each paycheck. That means you would save money first and transfer it to a different savings account far away from your checking account.

That way you’re not tempted to spend that money. So, basically you would be hiding money from yourself. (Out of sight, out mind.)

{READ: Save $100 This Week (And Crush Your Financial Goals)}

I cannot tell you how many times, I’ve faced an unexpected bill and had no money leftover from my paycheck to pay for it. But, because I have the habit of always saving money, I had extra funds to cover that unexpected bill.

In personal finance, this is called FU money. And you should always have FU money set aside.

Learn To Delay Gratification

Don’t we all love instant gratification? We want it and we want it NOW!!

Well, this exact behavior might be costing you more than you think.

Delaying gratification means you have to wait before you purchase something. Like you actually have to save for it. Instead of just getting it then and there by swiping a credit card.

This is by far the hardest “adulting” thing you can do for your finances. (aka telling yourself no).

Apply the 72 hour rule (one of the most important finance tips). That means you’ll have to wait 72 hours before you make an impulse buy. After 72 hours, then make a decision.

If you do want to purchase it, but don’t have the money right then and there. Then, start saving for it. Until you are able to pay for it with cash. You may even want to start a sinking fund.

A sinking fund is simply a way to set some money aside from each paycheck to a specific fund. For example, I have a sinking fund for traveling. And every time I get paid, I set aside $50 to fund that sinking fund. Get it?

Realizing there is No Good Debt

Sooo true!!! One of the easiest finance tips for young adults is realializing there is no good debt.

“The only good debt is a debt that is PAID OFF,” says Dave Ramsey.

I couldn’t agree more. Having debt is like carrying a backpack full of bricks. It weighs you down emotionally and physically.

{READ: How To Get Out Of Debt When You Don’t Earn A Lot}

So, the best thing for you is to set out a plan to start destroying your debt. You should start doing the snowball method. That way you can get quick wins and gain the momentum you need to keep going.

{READ: People With Debt Make These Mistakes Way More Often}