When you need advice, it’s usually best to go to the experts. We’re here to share our insights on the top 3 personal financial tips that you can start doing immediately. You don’t have to be a financial genius to manage your money wisely. Just take care of these basics.
1. Get Paid What You’re Worth
It sounds simple and a no brainer, right? Unfortunately, many people struggle with this first basic rule. Know what your job is worth in the marketplace by conducting an evaluation of your skills, productivity, job tasks, contribution to the company, and the going rate, both inside and outside the company, for what you do. Being underpaid can have a significant cumulative effect over the course of your working life. After that, be sure you are spending less than what you make. You don’t want to dig a hole that’s too big to get out of!
2. Pay Off Debt
Credit card debt is a major struggle to getting ahead. Despite our good intentions to pay off the balance quickly/monthly, the reality is that we often don’t. In return, we end up paying far more for things than we would have paid if we had used cash.
3. Contribute to a Savings Plan
Pay yourself first! If you wait until you’ve met all your other financial obligations before putting money towards your savings, chances are you’ll never have a healthy savings account. TRY THIS: Set aside a minimum of 5-10% of your salary for savings BEFORE you start paying your bills. Taking it one step further, utilize direct deposit.
Sometimes having a little financial adviser in your corner, looking out for your best interests is the best call. Take a few minutes, and see what a chat with William Wolske can yield. With over 40 years of experience as a CPA, and, a business owner himself, he can help you avoid the pitfalls that can occur. Schedule your free consultation today!