Financial Literacy Month: 30 Tips In 30 Days
April is Financial Literacy Month, and in observance, we shared 30 tips in 30 days to keep you financially healthy. Read the full list below.
Tip 1: 2016 is not over. Contribute to your Roth, Traditional, or SEP IRAs.
Tip 2: Install and use Quicken, Mint.com, Quickbooks, or some other income/expense tracking software.
Tip 3: Got a big tax refund? Adjust your W-4 to reduce your payroll deductions.
Tip 4: Maximize your 401k, 457b, or 403b.
Tip 5: Pay off your credit cards each month.
Tip 6: Setup and contribute to a Roth IRA.
Tip 7: Track your expenses to see where you spend money.
Tip 8: Put your savings on auto-pilot by diverting a portion of each paycheck into a savings account.
Tip 9: Brew your coffee at home.
Tip 10: Ditch credit cards with an annual fee.
Tip 11: Increase your insurance deductible to reduce your monthly premiums.
Tip 12: Round up your Mortgage payment to the next dollar to shorten the life of your loan.
Tip 13: Balance your checkbook to avoid overdraft fees.
Tip 14: Pack your lunch.
Tip 15: Avoid ATM fees by staying in your banking network.
Tip 16: Drive slower to save on gas.
Tip 17: Make a plan to aggressively pay down your credit card debt.
Tip 18: Dining adds up. Eat one less meal out a month.
Tip 19: Turn off unused lights in your house to lower your electric bill.
Tip 20: Take fewer trips to the dry cleaner.
Tip 21: Walk to the market to save gas.
Tip 22: Reduce your taxes by donating old clothes and unused items.
Tip 23: Lower your thermostat to lower your gas bill.
Tip 24: Take the bus or train to work.
Tip 25: Buy generic.
Tip 26: Drink less alcohol.
Tip 27: Install low-flow toilets and showers in your home.
Tip 28: Unplug your unused electronics as they continue to use energy even when not in use.
Tip 29: Never borrow from your 401k.
Tip 30: Count your pennies and the dollars will take care of themselves.
Have a question about your finances? Contact ACap Asset Management at email@example.com or 818-272-8511.
Ara Oghoorian, CFA, CFP® is the president and founder of ACap Asset Management, Inc., a “Fee-Only” investment management firm located in Los Angeles, CA specializing in helping doctors and physicians make sound financial decisions.