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Steps to Successful Money Management

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Publication Number: P1738
Updated: January 3, 2017
View as PDF: P1738.pdf

How you spend your money today determines what you have 6 months from now, a year from now, 5 years from now, or in your lifetime. You control your financial destiny. You are responsible for how much money you earn and how much money you spend.

Successful money management requires careful planning. It also requires self-discipline and the ability to say no to unnecessary spending. The ability to manage money has to be learned, developed, and practiced daily.

This publication discusses six steps to help you become a successful money manager:

  1. Determine your goals
  2. Calculate your living expenses
  3. Estimate your income
  4. Balance your income with your expenses
  5. Develop a spending plan
  6. Adjust your plan to changes

Download the PDF above for more information.

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