When it comes to money, making more of it does not necessarily mean you have more to spend. Even people bringing in six or seven-figure incomes can run into financial problems if they don’t have basic budgeting management skills in place. The way you spend and save money on an everyday basis impacts your overall financial health, both in the short- and long-term.
Not sure where to begin? Take a look at seven ways to get your finances in better shape.
1. Pay Off High-Interest Items
If you have high-interest credit card debt, now is the time to pay it off (and not rack any more up). In late 2015, the Federal Reserve announced the first rate hike in over a decade. Several more are expected over the next few years and this interest could add up quickly, depending on your balance.