5 money rules to live by

There is an endless amount of financial advice out in the world. Some tips are accurate and some are misleading. But when it comes to your personal finances, here are five rules you should always live by…

Don’t carry credit card debt: Credit cards are awesome. They can help you accrue rewards and help you out in times of need for sure. But they can be extremely heavy when it comes to the burden of debt. Credit card rates can be downright ridiculous. So if you’re using yours often, make sure to pay it off each month.

You need good credit: Using your credit card is a great way to build a credit history, which is a big deal when it comes to your credit score. Just make sure you’re using it responsibly. Having a solid credit score can save you loads of cash over the life of a loan, so when it’s time to make a big purchase (house, car) you’ll be glad your credit score is in great shape before you go in for a loan.

Live BELOW your means: Even if you’re making enough money to cover your bills each month, living paycheck to paycheck isn’t an ideal situation. When you’re truly living below your means, you’re keeping money in your accounts at the end of each month, and that will start to add up. That is what you want.

Automate when you can: Having a hard time saving money? Automate it. Having trouble remembering to pay your water bill? Automate it. See how easy this sounds?

Take advantage of your employer match: Does your employer offer a 401k match? Are you taking advantage of it? WELL WHY NOT?! It’s free money! If you’re not taking advantage of free money to invest in your future, I don’t even know what to say. Get on it!