1. Money

Start Managing Your Personal Finances

By

If you have just graduated from school, or have decided you need to take control of your money, you may be wondering what you need to do begin down the best financial path. Budgeting and other money managing skills will help you to succeed and build wealth. This list will get you started on the path to building wealth, and will help you stop worrying about money.
  1. Set Up a Budget
  2. Manage Your Accounts
  3. Get Out of Debt
  4. Build Your Credit
  1. Understand Your Benefits
  2. Begin Investing
  3. Learn About Money

Set Up a Budget

A budget is your plan to control your money. It will help you know how and where you are spending your money. You set up your budget, so you decide where you want to spend the majority of your money. Additionally it helps to prevent you from overspending in categories that are not as important to you.

Manage Your Accounts

Once you know what you are doing with your money, you will need to begin managing your accounts. Learn everything from opening a checking account to how to balance your checkbook. These simple skills will prevent you from overdrawing, and save you money.

Get Out of Debt

Getting out of debt is one of the most important steps to financial freedom. Debt payments take up a good portion of most Americans' income. If you do not owe the money to others, you can do so much more with your money and time. Once you are debt free, you have freedom to save and have fun.

Build Your Credit

Whether you are starting out with no credit history or you are trying to improve a poor credit history, there are key steps you need to take in order to build and improve your credit score.

Understand Your Benefits

Once you start your first real job, you may be surprised at the number of benefit options you have to choose from. Learn which benefits you need to take advantage of and which ones you can pass up.

Begin Investing

The sooner you begin investing your money, the less money you will need to put aside in your future. Investing helps your savings to grow exponentially.

Learn About Money

One of the keys to being truly successful in managing you money is understanding it. Take the time each month to learn something new about money, and you will find it easier to reach your financial goals.

©2014 About.com. All rights reserved.