Money: here today, gone tomorrow. But if you’re smart, you’ll be able to spend and avoid the pitfalls that lead to debt and a pounding headache


As an adult, money can be one the major stresses in life. You need to keep track of bills, be careful where you spend your money and try to maintain your savings for the future. Many people get into bad habits, such as loaning too much money. However, there are some efficient ways to keep your finances healthy.

Pay Your Bills On Time

One of the best ways to get ahead of your finances is to make sure all your bills are paid when they need to be. Missing or late payments can stay on file for six years, so it’s crucial you keep up to date.

If you’re forgetful when it comes to paying bills, the best approach may be to set up a direct debit. This will make sure your bills are automatically paid when they need to be. Alternatively, you can set up reminders on your phone or leave a note on the fridge. Either way, keep ahead of payment times.

Check Your Credit Score

Credit scores can affect many financial opportunities in your life. When asking the bank for a loan, your credit score will be crucial. It can decide how much you get, how fast you get it and how much interest you’ll be charged. Credit scores also affect how much credit card companies will let you borrow.

If you don’t already know your credit score, now is the time to check it. My Credit Monitor lets you see your credit score and report for free. You will want to aim for a high score, as this means you have a good credit rating.

Close Excess Credit Card Accounts

Many people open extra credit card accounts when sent good-looking offers, but this can actually be damaging.

Having an excess of credit cards lying around can promote bad spending habits. It can also make you more open to robbery or credit card fraud. Be sure to cancel credit cards if you don’t need them.

Reduce What You Owe

Some people get into the habit of shifting debt around to feel like they have more money. However, the last thing you want to do is delve into your overdraft or credit card limit.

Owing a lot of money makes banks and credit card companies weary of giving you more. If it seems like you’re unable to pay what you owe, they won’t be willing to give you loans or extra credit.

If you have the money to pay-off any loans, do it as soon as you can. You may feel like you have less money in the short term, but in the long term it will enable you to borrow more money when you truly need it.

Manage Your Money Well

One of the best ways to keep above water financially is to manage your money efficiently. If you keep yourself well in the green, you shouldn’t have to worry about loaning money or taking out an extra credit card. Being financially efficient means finding ways to spend less and save more. Always consider the long-term prospects as opposed to the short-term highs, and keep your wallet on close watch.

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