Financial Success - Step 1. Be Accountable & Responsible
The first step on the path to financial success is accepting accountability and responsibility. Understand that you are the one in control of your financial future and that every decision or choice you make can have a significant impact.
Financial Success - Step 2. Plot Your Course
Create a road map by defining your financial goals. Establishing a budget and sticking to it is not easy, but it is the best way to ensure that you are in control of your financial future.
Financial Success - Step 3. Establish a Budget
Not having a budget is like going on a trip without a roadmap. Just like needing to know where you are going, you need financial goals and a step-by-step plan on how to achieve them. For detailed help on developing a spending plan, visit the Federal Student Aid site.
Financial Literacy - Step 4. Borrow Smart
At some point, you may need to borrow money (take out a loan). It is imperative that you borrow smart if you want to maintain your financial stability.
Financial Literacy - Step 5. Manage Your Credit Cards Wisely
Credit cards are designed for people with income. When selecting a credit card, make certain you have selected one with the most affordable options and no hidden costs.