4 Money Tips You Can Take to the Bank

Did you make a New Year's resolution to become more financially responsible in 2017?  If so, we'd like to help you achieve that goal by sharing our best money tips:

  1. Create a Budget.  Creating a budget may seem like an arduous task, but it really is to your benefit.  By establishing spending categories and tracking where your money goes, you'll be able to balance income and expenses, while making it easier to save for long-term goals.  If you find the thought of creating a budget intimidating, download a budgeting app like Mint or Wally to make the process a relatively painless one.

  2. Know Your Value.  If it's been a long time since you've compared your salary to your peers, get to it!  Look online to find out how much people in similar roles with comparable years of experience are earning.  You may discover that you're being vastly underpaid and that the new year is an ideal time for exploring your career options.

  3. Develop an Emergency Fund.  Nearly one-third of Americans have no money saved up to use in case of an emergency.  Unfortunately, those same people put themselves at risk if they have unexpected expenses like medical bills or car repairs.  If you aren't living paycheck to paycheck and have the ability to put money aside, do so.  Experts recommend that at a minimum, you keep enough money in an emergency fund to cover 6 months of expenses.

  4. Go Easy with the Credit Cards.  If you have credit cards, use them responsibly by aiming to spend no more than 25% of your credit line.  And when the bill comes, pay your credit cards in full on time.  By doing so, you'll avoid paying the high interest rates and late fees that create financial difficulties for so many people.