Ten steps to financial well-being

Financial literacy can be a big and complicated subject.  The right decision for one person may not work for someone else. There are, however, some basic things that can help everyone build healthy finances:

• Pay bills on time
• Make more than the minimum payment on credit cards
• Track expenses and follow a monthly budget
• Keep an emergency fund of at least 3 months of living expenses
• Comparison shop on large purchases
• Contribute to a retirement account
• Be aware of credit card rates and switch or negotiate lower ones
• Read bank accounts statements regularly
• Assess deductions on the W-4 form every year as part of tax planning
• Check their credit report

Adapted from Bankrate.com

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