Top Tips for Financial Management
- Pay yourself first
- Spend less then you make
- Create and use a budget
- Be careful not to exceed your budget when buying an automobile or house
- Crete an emergency fund of 8-12 months worth of expenses
- Don’t carry a balance on your credit card(s)
- Consider using a “fee only” financial advisor (NAPFA.org); avoid commission based advisors
- Avoid payday and title lenders. These types of lenders trap you in a cycle of debt.
- Avoid expensive annuities (variable, equity indexed.) Be sure you know all of the fees involved before investing in these
- Buy term life insurance instead of whole life or permanent insurance
- Invest in the stock market for the long term and don’t worry about swings in the market
- If your employer offers to match your 401(k) or 403(b) plans, be sure to contribute enough to receive the full match. This is FREE money
- Start investing early to take advantage of compounding interest
Managing Your Money: Making the Most of Your Money
Parker County offers two hour personal financial management classes through out the year. These classes are held at the Parker County Agricultural Services Center that is located at 604 North Main Street in Weatherford. This class is for anyone who is interested in learning how to better manage their money. Topics usually covered include:
- Setting Spending Priorities
- Your Financial Reputation
- Stretching Food Dollars
Your Money Your Goals Train the Trainer Training
How confident are you in your ability to….
- Understand core financial management topics, such as budgeting, saving and setting financial goals?
- Order and fix credit reports?
- Make decisions about repaying debts and taking on new debt?
A complicated situation calls for a proper toolkit.
Come get the “Your Money, Your Goals Toolkit.
Texas A&M AgriLife Extension is offering the financial empowerment training for social workers, case managers, church workers, and other frontline staff and volunteers who work with clients and customers needing financial assistance.
The course is based on the Consumer Financial Protection Bureau’s Financial Empowerment Toolkit for Social services. Course topics include:
- Financial values/smart goals
- Spending plans
- Saving money
- Credit card management
- Getting organized
- Community resources
This course is approved for Continuing Education. For CEUs there is a $10.00 additional fee.