October is National Financial Planning Month
Updated Oct. 10, 2017
Don’t wait until the New Year for a financial tune-up. Start taking control of your financial future today by reviewing our resources below:
Set SMART financial goals
Saving up for a vacation or new car? Looking to boost your bank account balance? Make sure your goals are SMART! (Specific, Measurable, Achievable, Relevant, Time-bound.) This approach makes it more likely to reach your goals.
Make a budget
Make a budget and stick to it. Prioritize how you spend your money. Use our worksheet to track your purchases on page 13 of our “Get Financially Empowered” resource guide. There are many budgeting apps for your smartphone to help you track your spending.
Start an emergency fund
You can’t anticipate flat tires, injuries, or disasters, but you can be prepared in order to avoid being hit hard financially. It’s best to have 3 to 6 months of living expenses saved up. Even a smaller fund of $100-500 is better than having to borrow money after an emergency. Deposit part of your paycheck directly into a savings account to build up your reserve.
Read our “Get Financially Empowered” resource guide and check out our graphic below to find out other ways you can improve your financial future.