We all have realized by now that the economy sucks. However, there are essential tips you can follow to protect yourself from finance ruins. Before I list these essential money need dos — I first want to stress the importance of being proactive. Addressing an issue is much better than solving a problem.

Money 101 Essential In Any Economy

Set up a budget – Stop guessing, know what you have! Your can set up a simple budget in Excel. Create a column for your expenses/bills and another column for you income. Total both columns. Make sure your income amount is more than your expenses. If it’s not — cut back on your spending.

Track Your Spending – Tracking your spending is an essential money tip. See where you are spending money so when you need to cut back you can easily identify from where the cuts should come from. Here is a Free app to help you track your expenses — CashTrackerPro

Credit Report – Keep up to date with your credit reports. Once a year (annual) you can review your credit report to make sure your credit history is correct. Identity theft is on the rise, so reviewing your credit report can prevent problems on your credit report going unchecked. You can order an online credit report at Annual Credit.com or by calling 1-877-322-8228.

And the most important money essential tip – save for a raining day!

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