4 Must-Know Money & Personal Finance Facts

The world is changing fast. That means all those financial facts you have accumulated over the years might be outdated. As 2023 arrives, it makes sense to brush up on some of life’s core money-related lessons and concepts. While it’s still a great idea to earn a college degree, there are more creative financing options for today’s prospective students. Plus, thanks to the conveniences of the digital age, anyone can take advantage of coupon apps to save money on things they already buy. One traditional point that has withstood the test of time is budgeting. People who make and adhere to detailed spending plans can save more and make every dollar count. Retirement rules are changing, too, as more middle-aged adults aim to catch up after years of underfunding their IRAs. Review the following financial principles and see which ones you can incorporate into your life before the new year begins.

College Degrees Are Wise Investments

It’s hard to believe, but there are plenty who think college is a waste of money. The good news is that the vast majority of working adults and high school students have another opinion. They know that financing and earning a four-year degree are chores that have the potential to pay big dividends decades into the future. For that reason, people of all ages who are aiming for a diploma search for scholarship money as a first step.

Luckily, there are online platforms where you can perform extensive searches for financial opportunities and apply for multiple scholarships at the same time. Those who utilize the services of companies like Going Merry scholarships for college students that can use a streamlined system to uncover opportunities they qualify for. After that, it’s just a matter of filling out a single general application form and using it for all the scholarships you apply for.

Budgets Can Simplify Your Life

It’s unfortunate that a large number of working adults don’t use a monthly budget to track their spending and income. Some people seem to be almost phobic about the process, but developing a realistic financial budget offers keen insight into where all your money comes from and where it goes. From there, it’s much easier to make improvements, cut excess spending, and have more cash left over at the end of each month.

Coupon Apps Are Not Scams

Take some time to explore the top-rated coupon apps and download one or two that suit your shopping habits. Never pay to join a membership club to get an app; focus on working with just one for a few weeks before trying to juggle two or more. Some better versions can easily slice between two and five percent off what you spend on groceries and common household goods.

Plastic is Not Your Friend

There are two schools of thought on credit cards. One says that adults should have two or more for emergencies and to boost credit scores. The other views them as a necessary evil. Whichever side of the argument you agree with, be careful to pay off balances at the end of each month. View cards as a safety valve for true emergencies. The fact that you can apply for a credit card online quickly and easily means that it can also be really easy to get yourself into trouble so give it careful thought before you start to swipe.