University of Missouri Extension

STEPS TO GOOD FINANCIAL MANAGEMENT

Good financial management is not as complicated as it seems. According to the nonprofit Consumer Financial Education Foundation families can assure their financial health by following these steps.

  1. Plan - Learn to set realistic goals.
  2. Start NOW
  3. Consider carefully your insurance needs should you die prematurely. It is acceptable to think in terms of living forever but be prepared as if this were the last day of your life. At the same time, invest for the future as if you would live a very long life.
  4. Pay yourself first. Be willing to make some sacrifices today for the benefit of a secure future.
  5. Invest with the objective of avoiding setbacks rather than making big gains.

New Choices - 10 steps to financial health

 

 

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Last updated: March 09, 2005
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Kate Akers
Mark Belwood
Cynthia Crawford
Sandra McKinnon
Diana Hammond

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