A healthy financial life is an essential part of a secure, healthy life. You do not need to have a large income to ask “Are You Financially Healthy? 6 Steps To Better Finances” can make a difference.

1. Knowing where you stand with credit plays a large role in financial health.

While you should know your credit score, there is more involved than knowing that number. Make a point of obtaining your credit record from all three of the main credit bureaus. Read everything in each record, and make sure it is accurate.

If you find something questionable on a credit record, do not hesitate to request more information from the creditor. Check your records occasionally, so you will know if there have been any changes.

2. Budgeting is necessary for financial health.

It is not nearly as difficult as some people believe. A good budget takes your income and expenses into consideration, and helps you to live within your means. A budget will also help you avoid impulsive spending.

You will know how much money is earmarked for specific expenses, and how much you have left to spend.

3. Credit is one of the main causes of unnecessary debt. If you use credit at all, use it sparingly and wisely. Before you charge something to a credit card, or buy something on a payment plan, ask yourself if the purchase is truly necessary. Buying on credit can mean interest fees, and other possible charges.

A good rule of thumb is to avoid using credit unless it is absolutely necessary. If you have numerous credit cards, choose the card with the lowest interest rate, and cancel the other accounts.

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4. While everyone has bills to pay on a regular basis, in many instances you have options.

Basic home repairs can lower utility bills, and you can choose low-cost phone services.Think of how to keep your bills low, so you will have more money after your bills are paid.

Consider the companies you deal with regularly, and compare them with similar companies. You can have good services and products while spending less money.

5. Savings means financial health today and in the future.

A method many people find useful is devoting a certain amount of each paycheck to savings. Do not make the mistake of planning to deposit cash that is leftover after bills are paid.

Instead, deposit or transfer that amount before you use any other money from your paycheck. This is the best way to ensure something will go into savings from every check.

When you have one bank account that is solely for savings, you will be surprised at how quickly the deposits add up in your account. It is also a good idea to teach children the value of saving money.

Even the youngest child can learn to deposit a specific amount of his allowance in his own bank account. He will be delighted at having an account in his name, while he learns the rewards of saving.

6. Never be embarrassed to ask for help with your finances.

While some people are irresponsible with money, most people who encounter financial difficulties are not irresponsible. A job loss, a divorce, or other unexpected situations can lead to financial problems.

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In other instances, debt can occur when a person has not learned how to effectively manage money. Credit counseling can be an excellent solution.

A credit counselor can take an objective look at your financial situation, and see the cause of the problem. The counselor can then help you understand the problems, and work toward a constructive solution.

You CAN learn to use money effectively, and avoid future debt.

Whether you are currently experiencing problems, or want to avoid future problems, credit counseling can be very useful. There is no reason for embarrassment. Counselors are professionals, and they are trained to help consumers develop financial plans.

There are a number of reasons to take financial health seriously. You will have less to worry about when you always know where you stand.

Instead of overdue bills and creditors, a healthy financial situation means financial responsibility and peace of mind.

It is also the best way to give your children a solid foundation for their own futures. Youngsters who learn about managing money at an early age are more likely to be responsible when they become adults. Financial security also means a nest-egg for the future. Nothing will be left to chance when you take control of your finances today.


Guest post contributed by Tanya Calaban.
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Founder and chief editor of makemoneyinlife.com Blogger, Affiliate Marketer, Tech and SEO geek. Started this blog in 2011 to help others learn how to work from home, make money online or anything related to business and finances. You can contact me at makemoneyinlife@gmail.com

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