4 simple tips to help you reduce your money stress
Do you hold your breath every time you swipe or tap your credit card? Do you dread opening your bills or statements every month? Financial stress can impact anyone and there’s no single solution that can cure all your money woes. However, the Credit Savvy team have put together 4 simple tips to help you reduce your money stress and get you back on track.
1. Create a budget
Setting up a budget is one of the easiest things you can do to get your finances back on track. It can be as simple or as detailed as you choose. The hardest part is sticking to it!
Check out our article to get started: Essential apps to track your spending, save money and pay your friends.
2. Have an emergency fund
Take some weight off your shoulders by having an emergency fund. It’s an account where you have enough cash available to cover the cost of any unexpected and urgent expenses. It’s a good idea to have enough saved to cover three to six months of your expenses.
3. Protect yourself
Taking out insurance can often provide peace of mind that you’re protected if the worst should happen. Whether it’s health insurance, car insurance, income protection insurance, or pet insurance, getting covered could help protect your household in the long run. Remember, it’s important to find the right policy for you and your family. Always read the Product Disclosure Statement before signing on the dotted line.
4. Check your credit score
Your credit score is a representation of your credit worthiness. That’s why it’s important that you track and monitor your credit score and your credit report so you know where you stand. Make sure that the information is accurate and up to date so that you’re not caught off guard when you next apply for credit.
Bonus: You can check and monitor your Experian credit score for free at Credit Savvy!
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