Saving, investing and making money with technology

3 Financial Principles To Help You Get A Better Handle On Your Money

Managing your money can be a tough task. With things like credit cards and loans always waiting on the wings to help bail you out when you’ve spent too much or haven’t saved enough, it can seem unnecessary to truly learn financial principles. However, if you’ve ever gotten in over your head when it comes to finances, you know just how important it is to control your money rather than having it control you. So to help those of you looking for ways to get more in control, here are three financial principles to help you get a better handle on your money.

Spend Less Than You Make

While this financial principle may seem obvious, spending less than you make can be harder than you might imagine at certain points in your life. If you’re not making much, spending less than you’re bringing in could seem nearly impossible. Also, if you have a lot of fixed costs, it could be very difficult to minimize those necessary bills. Some advice for following this principle that Laura Shin, a contributor to, recommends is investing early so you always have at least some backup money to your name and finding ways to earn more income through things like going back to school or trying to get promotions at work.

Dave Ramsey’s Baby Steps

Dave Ramsey is one of the gurus of personal finance in the world. While he has some detailed advice about how to always retain control of your finances, what he’s arguably most known for is his Baby Steps plan. shares that the 7 Baby Steps for gaining financial stability include having an emergency fund, getting out of debt, saving for monthly expenses, and giving back to charities or other causes. As you work through each of these baby steps, you’ll gradually begin to see how your control over your money has grown and how you no longer have to rely on things like credit or loans in order to maintain your lifestyle.

Take Advantage Of Benefits Through Work

If you have a job that offers you benefits, one great thing you can do for your personal finances is take full advantage of whatever these benefits consist of. shares that some of the most common benefits employers offer are retirement plans, insurance, flexible spending accounts, and free consultation for various aspects of personal finances. By maximizing the amount of provided benefits that you use through work, you can minimize the amount of money you’re spending out of your own pocket while simultaneously receiving benefits you otherwise might not have access to.

If you’re searching for ways to better manage your own personal finances, use the financial principles discussed above to help you do just that.

Anna Johansson

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