Improve Your Finances

I just read about 12 steps that will help you get on top of your money. The studies suggests that taking certain steps including minimizing investment fees and starting to save as early as possible can dramatically increase one’s chance of financial succes. Just read this

1. Analyze your spending
– Make sure you know where your money is going and how to cut back to add more to your savings. You can use a free online tool such as Mint.com.
2. Find your retirement number
– You can calculate how much money you should save before retire. Use online retirement calculators to estimat the retirement number. Figure how to reach that goal and what needs to change.
3. Pay less in fees
– Do you realize how much money you paid for fee.
4. Write a will
– Plan an essential estate including a will, durable power of attorney and healthcare proxy documents. It could protect your assets if you become unable to manage them yourself.
5. Take out life insurance
– Life insurance can provide essential support to family members, including any dependents, in the unlikely event of unexpected death.
6. Ramp up savings over time
-Increase your savings rate until you reach your goal percentage.
7. Pay off debt
– Minimize your debt especially high interest debt such as credit card debt.
8. Reconsider family support
-Re-evaluate the financial support for other family members.
9. Keep working in retirement
– Start taking steps to implement plan to work after retirement such as getting more training or certifications.
10. Protect against scam
– SOme of retirement people lose their money because of the scam. Protect yourself and don’t trap into the scam scheme

Source :- Money USNews

Okay, I just put 10 point because others 2 point maybe not suitable in my finance.

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