You need to know how you spend your money before you can properly manage it. Here are a few tools to help you out:
- Create a monthly budget to see where your money goes.
- Use the Reduce Spending Tool to see if there are ways you can reduce spending.
- Look at the Cashflow Tool to may sure you have enough money to pay bills each month.
- If you take prescriptions, use GoodRx to find the cheapest prices near you.
Savings is the key to financial freedom. That extra money can help you pay for emergencies, but it can also help you afford major things like college or a down payment on your own home. Use the Savings Calculator below to see how much you should be saving each week to achieve your savings goal. Once you set your savings goal, hold yourself accountable by taking the Savings Pledge.
Need some motivation to save? Sign up for a free EARN Starter Account and earn up to $55 in rewards. Sign up today.
Want to make savings really easy? Digit is a free tool that helps you automatically save money and has a no overdraft guarantee. Learn more here.
Looking to start saving for retirement? myRA is free, easy, has no fees or penalties, and is insured by the U.S. Department of Treasury. Sign up today.
Debt and Credit
Good credit will make it easier and cheaper to buy a car, purchase a home, rent an apartment, or get a loan. Manage your credit, so your debt doesn’t pile up.
Monitor your credit score using Nerdwallet’s free credit monitoring service. Sign up today.
- Learn more about credit: Do’s & Don’ts of Credit
- You can request a free credit report once per year for each credit bureau at AnnualCreditReport.com.
- Use the Credit Report Review Checklist to make sure your credit report has no mistakes.
- Learn about ways to Improve Credit Reports and Scores.
- If you are worried about your credit or debt, contact a local credit counselor.
Information is power. The more you know the better you can manage money. Below are more advanced money management resources to help you achieve financial freedom.
- Mint.com is a free money management website and mobile app that can help you keep track of your finances, set financial goals, and learn about financial products.
- CFPB offers great information on topics like student loans, buying a house, and applying for credit cards.
- My Credit Union can help you find a credit union near you.
- MyMoney.gov is a great source of information for saving and investing your money.
- Investor.gov is a great place to look if you want to start investing for retirement.
- TheSimpleDollar.com is a good place for information on credit, banking, debt, and education.