Like any goal, getting your finances stable and becoming financially successful requires the development of good financial habits. Here are just a few things to think about as you begin to build a stable financial picture for you and your family.

1. Prioritize your goals.
   Setting goals is the first step in establishing a financial plan that will guide you throughout the process for your money management.
2. Separate spending on "needs" and "wants".
   Don’t spend more than you earn. Creating a budget will help you to know where your hard earned dollars are going. Learn where the "leaks" are and where you can make changes in your spending habits. Reviewing your budget regularly will give you a detailed picture of how you are spending your money.
3. Have a savings plan.
   Save, save, save. It’s important to have a savings fund for those unexpected emergencies. Having savings provides cash liquidity on a short term basis when needed. Setting aside three to six months of your living expenses is the rule of thumb for a financial safety net. Financial experts recommend setting aside 20% of your earnings each month.
4. Establish a retirement plan.
   Plan and save for retirement. It’s never too early to think about your future. It may seem a long way off, but saving now will give a bigger payoff in your later years. Small amounts grow over time. Investigate and learn about tax advantage retirement plans. Learn the difference between a Roth and Traditional Individual Retirement Accounts (IRA)!
5. Invest your money wisely.
   Investing your money is for long-term building of your monetary wealth. The difference between saving and investing is the risk that you take when investing monies for the future. Reading and learning about the importance of how to invest and seeking out reputable financial advisors will help you to establish the best investment plan for you and your family.