FTC: This post is not sponsored and I’m not a financial advisor. All thoughts and opinions are my own! 

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2019 is about 2 weeks away and we’re making money moves to improve your financial life. Starting with this list! Why? Because the more information we have, the more knowledgeable we’ll be and more financially literate. Which means that financial freedom becomes more accessible and you keep more money in your pocket. PERIOD! 

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40 Money Moves To Improve Your Financial Life

Though I won’t go though all 40 in detail because some of them are just pure common sense there are a few that I want to tap into that I think deserve a bit more focus/ discussion and explanation.

1. Monitor your credit: There’s a reason it’s number one because it is crucial and fundamental to to a lot of the other money moves to improve your financial life. I shared with you a few weeks ago how I managed to get an 840 credit score here! You don’t have to pay any one to monitor your credit you can do it for free. Most bank accounts/ credit cards will offer you free credit monitoring. You can also use those websites like FreeCreditReport.com Whatever you use make sure you don’t have to pay extra fees for it. You are also entitled to get a full credit report once a year for free so take advantage of that as well!

2. Pay Down Bad Debt: If you don’t know exactly what “bad debt” is you really want to tune into our Instagram where I share these gems on IG stories all the time. It’s not too late to head over and hit the FOLLOW button to catch the stories as they go up or grab a quick flash to the past in our archives. Essentially you want to pay off all of your debt of course, but you want to focus on “bad debt” first and foremost. Bad debt usually has a ridiculous interest rate, or the term of the loan is for the rest of your natural born life. “Bad Debt” also pulls down your credit score rating as compared to your “good debt” like mortgages or student loans. You can also learn more about different debt types and how to pay them down on a low income by grabbing your own copy of our financial literacy e-book! 

3. Open Multiple Bank Accounts: The same reason you want to have many streams of income is the same reason you want to have multiple bank accounts. Whenever you have a middle man with your money (ie: the bank) you never know what can happen. You want to always have access to your money and if the bank some how makes a mistake with your account, or you are a victim of identity theft, you want to have some other access to money to help you stay afloat as the mistakes are handled. Having multiple bank accounts also helps you with budgeting, saving, tracking how much you’ve saved, and capitalize on various interest rates.

4. Have Good Health Insurance: Millennials hate to talk about health insurance because it is so expensive and can be really daunting. However just like you want to have an emergency fund, having great health insurance is the same thing. you don’t want something to happen to you and have huge medical bills to worry about. By investing in good health insurance you are securing your future sick self! And I for one with achy knees and a sore back am thankful for that. And plus you’ll have a good doctor or whatever!

5. Monitor Debt to income ratio: This is going to affect how easy or difficult it is for you to move on with your adulting life and purchase a car, a home…etc. If your debt to income ratio is too high it will affect the interest rates you receive, and the amount you are approved or not approved for. Take it from me… keep that debt to income ratio as low as humanly possible.

For more tips/advice along side ways to save money and make money moves to improve your financial life join in on our Millennial In Debt Money Saving Challenge for January 2019. We’ll be saving an extra $500.00 dollars to get our 2019 started off right! Sign up is now open! 
money saving challenge