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Alizah Acosta
Noodle Expert Member

January 23, 2020

 Look at your balanceOften, people spend money they don’t have. Some of that is because of the luxury of the credit card or the fact that so many people are offering financing options.

Look at your balance

Often, people spend money they don’t have. Some of that is because of the luxury of the credit card or the fact that so many people are offering financing options. Side note, did you know you can finance hair extensions? It’s crazy! As a basic principle, try to spend the money you have. Don’t rely on credit cards or financing to have your back.That mistake is how people wind up in debt they can’t get out of. If you are mindful of your expenses and know how much income you’re making, it should be fairly easy to have a good grasp on how much money you have in the bank. Even so, it’s important to look at your bank statement at least every quarter, if not every month.


Another good money practice is budgeting. Budgeting is where you consider the income you are making and take away your expenses. Expenses are anything like bills, taxes, gas, or other necessities you spend money on. Budgeting also includes the amount of money you are putting towards savings. There are many good budgeting strategies. Make sure you do research to find the one that works best for you. It is, and I can’t stress this enough, very important to choose a plan that you can keep up with and that won’t frustrate you. Similar to finding a workout plan, you want to stick with something that will get you to your desired goal. Check out these budgeting tips.


The reasons why saving is a vital money practice are endless. One of the big reasons is retirement. It is crucial to start saving for retirement at an early age. As soon as you have steady income, think about what kind of retirement you want, and start putting money aside for that. For example, if you want a more luxurious, travel inclusive retirement, that means putting away more money towards savings. Another reason you would want to save money is for emergencies. Even if you live a healthy life, there’s no telling if you’ll get into a small car accident and need to repair the bumper or if you fall and need medical treatment for a broken bone. Don’t wait until something happens to start worrying about where the money will come from. Put money aside so that when these things arise, you’ll have what you need. Be sure to check out this article on saving money that also includes a savings calculator.

Stay Educated

Along with other subjects, it is important to read and stay educated on finance. There is always something new to be learned. People come up with better ideas or there’s a new economical factor to consider. Maybe you just want to keep refreshed on your core money principles. Whatever the case is, it is important to dedicate some time to learning or re-learning about finances. Personal finance is a very important topic and one that a lot of authors have written about. Great books about personal finance include Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter, The 4-Hour Work Week  by Tim Ferriss, and FInancial Freedom  by Grant Sabatier. There are many podcasts and online articles that are also very helpful. To find more books on finances, retirement, and managing debt, check out these books.

Money matters. Money is a great resource that can be used for a lot of enjoyable things. It is important, however, to be responsible with that resource. With these four money tips, you will be on a great track to using money more wisely.