We made it to April. After a galling winter that at times seemed like it would never end, it is finally another radiant Nebraska springtime. The welcomed warm air and new spring growth are literally a breath of fresh air after months of frigid temperatures and dim skies. It seems that on this side of the fence, the grass actually is greener. But April is not only the beginning of spring; it is also National Financial Literacy Month.
We are currently living in a country with a down economy. Americans, as consumers, have had to adapt their lifestyles as well as their spending habits. For most, days of over-charging and excessive spending are regrettable realities. In fact, one major factor for the current economic condition is a general lack of responsible credit. A recent survey done by Money Management International revealed that 33% of Americans feel as though they should be held solely accountable for their own financial education. This illustrates that even in times of economic discord people still recognize the importance of being responsible of their own personal finances.
In light of that, if you have outstanding credit card debt, now is as good a time as any to face it. While it may seem intimidating, there are some simple ways to start the process of becoming financially fit again. Here are three basic steps to regaining control over your financial future:
First off, know exactly where you stand. Get organized and acquire your current credit score. To find your free and reliable credit report, visit treasurer.org. Personal financial literacy begins with a keen awareness and understanding of your individual situation.
Second, balance you're your income with your spending, and create an appropriate budget. Record and observe even the smallest of your expenditures. Whether it be monthly or weekly, frequently monitor your progress. This is basic money management.
Finally, consult a trusted professional for additional guidance. See a tax attorney or financial advisor with questions regarding your present of future finances. By following these simple steps, you have set out on the road to economic independence and financial literacy.
Let this spring be your reminder that anything can be overcome. Acquiring and maintaining healthy financial habits throughout one's life is vital to success. Good practices of personal finance promote a healthy lifestyle and eliminate unneeded stress.