"Empower Your Finances: 6 Tips to Take Control and Master Your Money"

1. Understand Your Relationship with Money:

• Personal finance is taking what you know about money and applying it to your own lifestyle and behaviors. In order for your knowledge of finances to impact your behaviors, you have to – as the name implies – make it personal.

• Consider your personal style. Are you a spender? Saver? Giver? Do you know how much money you have in your accounts? Where your money comes from? Where it goes? Or do you avoid thinking about it all?

• Consider your relationship with money. Our beliefs and attitude towards money greatly shape how we manage it. What were some of the messages you heard about money growing up that have stuck with you? How do you feel about it now?

2. Set Your Financial Goals:

• Think about the life you want to live in the next one, five, or 10 years. What does that life look like? What resources, financial or otherwise, will you need to achieve that life?

• Put together a personal net worth statement. Knowing where your assets and/or liabilities are held, and the values of each, can provide a snapshot of your financial wellbeing as it stands today.

• Make the invisible, visible. Be aware of your day-to-day spending to make necessary adjustments and eliminate any nagging thoughts of “should I be buying this?”

3. Manage Your Finances:

• Know your inflows and outflows. How much cash are you bringing in each month? How are you spending your money?

• Consider the products you use for spending. What do you use most often to pay for things?

• Know your financial reputation. Regularly review your credit report to ensure accuracy and monitor for fraud.

4. Invest Wisely:

• Make your money work for you. Investing enables you to take advantage of compound interest and create long-term growth from your money.

• Explore investing options. There are many resources available to learn more about investing.

5. Save for Retirement:

• Save more for retirement. Utilize retirement accounts that provide tax benefits, such as Traditional IRAs and 401ks.

• Understand your options. Many employers offer retirement accounts as part of their benefits package.

6. Plan Your Legacy:

• Plan for your legacy. Be thoughtful about what will happen to your assets and how you want the transition of your assets to impact your family and those you care about.