Everyone want to earn more money. Don't you? 
But mastering your money is also important, no matter you earn a lot or just enough. Mastering your money will help you keep your financial balance.
Here are some methods for you.
- Track every penny you spend
The authors of Your Money or Your Life admonish readers to “keep track of every cent that comes into or goes out of your life.”
You can track your spending on paper or online. But make sure that you stick with it and make it a habit.
- Develop a budget
According to The Millionaire Next Door, budgeting is one thing that sets the wealthy apart from the rest of us — 55% of millionaires keep a budget.
Even you are not millionaire now, budgeting still help you mastering your money. There is a saying: "Spend less than you earn". At least your earning is your budget. Or you may fall into debts. If you want saving money. You need a budget that have some money left.
- Optimize your accounts
To optimize your accounts:
- Open an online high-yield savings account.
- Choose a rewards checking account.
- Use a rewards credit card.
A tip: When optimizing your banks and credit cards, consider using multiple accounts at each institution.
- Start an emergency fund
Life is full of dangerous things. Something bad may happen in an unknown date. If you have no emergency fund, you may need high-interest debts to overcome it. So starting an emergence fund may also help you saving money.
You can starting it by saving some bucks, and then add $20 or $50 more to your account ever time you get paid.
- Get out of debt
Debt is the enemy of good. But if you have the mental discipline, you still save money by paying down those high-interest debts:
1. Order your debts from lowest balance to highest balance.
2. Designate a certain amount of money to pay toward debts each month.
3. Pay the minimum payment on all debts except the one with the lowest balance.
4. Throw every other penny at the debt with the lowest balance.
5. When that debt is gone, do not alter the monthly amount used to pay debts, but throw all you can at the debt with the next-lowest balance.
- Fund your retirement
Everyone will get old. And funding your retirement earlier will help you have a better life later. You can start buying stocks for your retirement. Take advantage of any employer-matched opportunities, such as a 401(k). Also consider starting a Roth IRA.
- Automate your finances
Automate your finances, so you won't forget to do something. And you can have more time to earn extra money or enjoy your life.
One advantage of automation would be: when pay your bills and do your saving and investing automatically, it’s easy to tell how much you have left over to spend at the end of each month!
- Earn extra money
There are lots of ways to earn extra money, for examples:
- Ask for a raise
- Take a second job
- Use your hobbies
- Volunteer for medical research
- Sell things on eBay or Craigslist
- Educate yourself
Knowledge is power. Personal finance doesn’t have to be a mystery. Subscribe to personal finance blogs. And you can also visit your public library. Borrow money books and self-development manuals.
From the above, taking control of your finance seems to need lots of work. But that is not true, one simple solution would be setting a specific data as your personal "money day". And you can do all your money-related jobs in that day. And don't forget to reflect on money mastering skills.
You can do it and good life is there not far away.
Everyone may come up with credit card. Credit card is a modern tool. It helps you to manage your personal finance, if you master it and use it well. Or it may be a dangerous weapon that force you jumping into debt pool. It all depends on you.
If you are responsible, a credit card can be both convenient and efficient for you. Credit card can help you saving money, not saving too much money, but maybe 1% or so. And it also gives you a bonus: by using it, it helps you for a paperless personal finance management.
So, how to choose a credit card?
It is all based on your living styles:
- If you are are someone who revolves a balance credit card debt, focus on cards that offer low interest rates (especially on balance transfers) — and put a stop to new charges.
- If you pay your balance in full every month, find a credit card with no annual fees and a solid cash rewards program.
- Some credit card users have special needs. If you spend a lot on gas, consider a gas credit card that gives added rewards on auto expenses. If you travel a lot, look for a card with rewards for flights and lodging.
And it’s also important that you understand the different aspects of the credit card application.
- An annual percentage rate of 11% or less on purchases.
- Low rates on other loans, such as cash advances or balance transfers. (If you’re doing a balance transfer, find a card that offers 0% APR, at least for a year.)
- Reasonable penalty terms. Find the penalty rate (or default rate), and follow the asterisk to see what triggers it.
- Finance charges that are not computed using two-cycle billing. (Two-cycle billing sucks.)
- No annual fee.
Don’t choose a card just because it offers a sign-up bonus or because it gives you a discount at your favorite store. Read the terms and conditions. Understand the card’s limitations. Remember: your goal is to pick a tool, like a vacuum cleaner. You’re not looking for a one-time bonus, but a long-term relationship you can live with.
And here is a category which may help searching and deciding which credit card fits you:
- Best Low Interest Rate Cards
- Best Cash Back Cards
- Best Travel Miles Cards
- Best Reward Points Cards
- Best “Impaired/No Credit” Credit Cards
- Most Innovative Credit Card and Programs
You need to search or compare all credit cards available in your country to decide to apply which credit cards. You should spend some times on it. It is worthy in long term.
Remember: Please read any offer thoroughly before applying. And please, do not sign up for a credit card if you’re not certain you can handle the responsibility.
If you choose to use credit cards, make a commitment to use them responsibly.
I start this blog by searching "Personal Finance" by Google Blog Search. Here was what I found.
First, I found a decent blog all about "personal finance" named "A Personal Finance Guide". From the first page, I could see that it talks about changing habit and saving money. Here is a short list of its blog articles:
- Dollar Yoga How to Stretch the Almighty Dollar
- The Best Way to Save Money
- 7 Things About Money I Wish I Knew in My 20s
Second, I found that there are personal finance bible, journal and software. And there are theories of personal finance and tutorial suite of personal finance.
Third, from the search result page, I learned that most hot topics about personal finance include online stock trading, debt management, life insurance and others. Lots of stuffs need to be read.
So I think, starting to learn about personal finance is easy, just key in "personal finance" and click "search" button, you get lots of stuffs. So go ahead with personal finance yourself too.
