When your personal finances are out of whack, it really throws everything out of whack. You can become stressed, frustrated and angry. Some people even become depressed over their finances. The great news that there are many great ways to becoming a financially responsible person, and live life to the fullest. Here are a few key ways to getting there:

1. Live within your means.

That means live on less than you make. That means not maxing out a credit card every month. That means having extra money at the end of every month… even if it’s $10. If you have $10 left over at the end of the month… you lived that month on less than you made.

2. Know how to budget.

You should have a monthly budget and stick to your monthly budget. You should know how much is going out of your account each month and how much is coming in your account each month. Everything should be accounted for. And I do mean everything.

3. Save for the future.

That means learning about ways to invest your money. Whether it’s contributing to a tax-free savings account, RRSP, or stock market account.

4. Learn how to control your spending habits.

Know how to say NO to that thing you just don’t need to be buying. Save up for the fun things. It’ll be that much worth it in the end.

5. Get your debt under control.

If you’re in debt, now’s the time to get out of debt. If you’re out of debt and debt free, stay that way.

If you’re looking for a credit counsellor in Toronto, get a quick assessment with us today or call us at 416.900.2324. We will help you develop a plan, reduce your interest costs and get out of debt over time.