How to manage your personal finances as an adult

This article is speaking to everyone in general. Some of you might have learned some money skills from your parents. Some of you might not have been so lucky. This is why I am here. Even if you have already learned this stuff, think of this content as a brief refresher.

Money Management

Self-control is everything

Now this might be a problem for some of you. If I was talking to myself about this 20 years ago, I would have ignored what I was saying right now. I was that bad. However, I grew up and out of that phase. Some of you might not be so lucky. Some of you might not have learned self-control yet.

The trick is to delay the gratification. There might be a pair of jeans you really want to buy. There might be a poster you really want to invest in. The trick is to not give into temptation so soon.

Hold off as long as you can. This is the number one lesson involving self-control. It’s better to take care of your bills for the month first. After you take care of your bills, then concentrate on putting some money aside for an emergency fund. If you have any money leftover at the end of the month, then consider making a small purchase. My number one rule is: if you do not have the cash to backup the purchase, then you shouldn’t be buying it.

According to the specialists at , the goal is self-control. The goal is to determine if the purchase is a want/need or a just an impulse. If you wait long enough, you might just find you really don’t want/need the item after all.

Using credit cards

Credit Cards

Some say this one is the root of all evil. It’s not really. It’s the way you use a credit card that determines if it’s good or bad. I say start off with a small purchase. Pay it off with cash or a check right away. This way you are not walking around with any kind of debt hanging over you.

If you do wait till the end of the month to pay it off, then make sure you paying it off in full. I don’t care of the bare minimum is more attractive, you need to pay it off right away.

You should only carry around the credit cards you need. Do not keep extras hanging around to look pretty. I used to do this. I had some credit card issues many years back. I thought I could pay them off on time. I was wrong. Cut to four years later and I am still paying for what I did. Learn from this. Unless you absolutely need to have a credit card around, only use cash. The more control we have over our credit card spending, the less we will spend on impulse.


I don’t care how old you are, start saving for your retirement now. I don’t care if you are self-employed or work for someone else, please start saving. I had a sizable emergency fund. I found myself in a drastic situation and had to cash it in. It cost me a lot to cash in the funds too.

Learn from this one too. Start an emergency fund and do not touch it. I don’t care how much you want to make a purchase on something, leave it alone. I am 40-years old and don’t have a dime to my name. I hold myself accountable for most of it.

I was very careless with money many years back. I made some mistakes. I am just beginning to get my life back on track. Please learn from me on this one. If you can start to save money now, you should do so.

Protect your money

Protect Your Money

This is another subject in which I have learned some valuable lessons on. I was pretty lazy about money back in the day. I spent it impulsively. I also lent money out to people I never should have. Please learn from my mistakes. If you take anything away from this article, take away this part right here.

Take good care of your money. When it comes to loaning money out, my suggest is not to do it. I learned this one the hard way. If you have to loan money, make sure you can truly trust the person.

Once you get the money back, put it back into your savings. Do not touch it at all. You should also protect your money from taxes. If you have some sort of retirement fund, it can not be touched. The only way it can be touched is if there is any pre-tax taken out. Outside of this, there should be nothing coming out.

Some other things you might want to invest in are <strong>renter’s insurance and disability insurance. If something happens and your home gets broken into, your renter’s insurance will pick up the slack.

Disability insurance will protect you against money being taken away, if you are unable to work. Some people are not able to work due to some type of injury or illness. Disability insurance will keep your money locked in.

This is a good thing. It will protect you if the company tries to play hard-ball and take the money away. It’s all about control. This is just another way you can get it back.

Health insurance concept.

Health Insurance and living healthy

This definitely falls under managing your money. If you can afford to do so, you should think about getting health insurance. Health insurance will lock you into good healthcare and help you out with medications and doctor visits.

Another thing you can do is cut down on the junk you buy. Money and health go hand-in-hand. Here in America we spend millions of dollars each year on unhealthy items. Items like cigarettes and junk food. If we spent less money on this type of stuff, we would have more savings and more control.

This all goes along way to saving money. Living a healthier life also goes along way to taking back the control. The more control we have over our personal lives, the less we will spend on impulse and self-gratification.