Personal Finance Tips

Personal Finance Tips

  • At Bongiovanni we believe in planning for the future. Sometimes that means making some small changes or adjustments to our day to day lives which can make a big difference in our financial future. Below are some personal financial tops for you ro try:

  • Create a financial calendar - reminders, bill due dates

  • Set a budget - based on monthly income and expenses, shows exactly where your money is going and keep track of financial goals

  • Set specific financial goals - what do you want to accomplish with your money, how much debt do you want to pay off, how much do you want to save and by when?

  • Finances and body in shape - studies show that people are more productive at work after working out, which could lead to getting more work done and potentially hire pay. Plus learning physical habits and discipline may go hand and hand with managing your money as well.

  • Cost vs Use - evaluate purchases, decide which is more important quality vs quantity

  • Start saving - set up your bank account to automatically transfer $5, $10, $20 monthly into your savings account. Stress free savings and most of the time you won't even notice it coming out of your checking account!

  • NEVER dip into your retirement account - will only hurt you in the long run, pay tons in early withdrawal and penalty fees. A very serious last resort

  • Review your credit report and credit score regularly - having a mediocre-low credit score can cost you in the long run, check frequently and see in what ways your can improve

  • Pay attention to fees - ATM fees, interest, etc

  • Get the right insurance coverages - including property and casualty, medical and life insurance. You want to make sure you're fully covered without overpaying

  • Invest in yourself - could be in the form of going to college, taking an online course, blogging and making money at home on the side. Invest in yourself, you're worth it!

  • Don't put off saving for retirement - find out if your employers offer a 401k benefit and max out what they will match

  • Reduce your expenses -Rather than going out to eat as often try cooking more at home, bringing lunch with you to work, etc

  • Research big purchases - make sure it's fully worth the investment, how the purchase will affect you in the long run

  • Use coupons when you shop - savings at the tip of your fingerprints now that everything can be done digitally. It's as easy as signing up for email deals or just doing a quick google search for the stores you love.

  • Buy in bulk - cheaper in the long run! But only buy if you need it, not because it's a good deal

  • Wanting less is better than having more!

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