Level Up Your Money Intelligence With These Tips

One of the hardest things when it comes to turning your finances around is learning how to manage your money better. What are some of the ways to become more disciplined with spending? How do we maximize the money we save? How do we become smarter with our money? For those of us that need some help when it comes to money intelligence, try these tips:

1. Reduce Your Food Spending

- Food is a massive expense for a lot of us. When you're not so great at watching your money, this is the category that consistently seems to get out of control the most. Reduce food costs by eating out less and finding cheaper alternatives at home. Purchase the items you consume the most in bulk, and focus your diet on low-cost/high-yield foods like pasta, rice, beans, legumes, etc. If you prep your meals at the beginning of the week, you'll also be less likely to opt for something more expensive.

2. Get A Cashback Credit Card

- Use a cash-back card to pay for regular monthly items, like bills, gas, etc. If you only spend what you would have with cash anyway, you will be able to pay off your credit card in full each month. Don’t carry a balance to avoid accumulating interest.

3. Reduce Your Transportation Costs

- If you can walk or ride a bike to work, you're going to have a lot more money in your pocket and have the bonus of getting more exercise. Transportation is a huge expense for some of us, so if you can't walk or ride your bike, look into public transportation. If you can manage without a vehicle, you could even sell your car for a chunk of change.

4. Save Instead Of Splurging

- Instead of making impulse purchases, start saving for the things you want. Saving for things you want accomplishes two things: it gives you time to think before you buy, and it acts as a reward, helping create great habits.

5. Reassess How You Use Your Credit Card

- A great rule of thumb, when it comes to credit cards, is to never you credit beyond the amount of cash you have on hand. Let your bank account balance set your spending limits. Don't spend more money in a month than what you can manage payback during the same month. It will help you avoid carrying a balance.

6. Seek Advice

- Reading this post is a great first step, but you want your money education to continue. Look for money education programs like Refresh Financial's Financial Intelligence Training. It's available to all Refresh Financial customers free of charge. Click here for more information.

7. Get A Secured Savings Loan

- A secured savings loan not only helps you build your credit score, but it also gives you a lump sum of cash at the end. Making your payments towards the secured savings loan each month will help you develop healthy saving habits. Anyone can be accepted regardless of their credit score and it doesn’t require any money up front! Click here to find out more about the secured savings loan.

With these few tips, you can quickly and easily boost your money sense and improve your financial situation!

Do you have any other great tips when it comes to finances? Let us know in the comments!