It’s a very common theme among younger people that once they hit their twenties and get a little free with a credit card, they make poor financial decisions. The thing is, you don’t have to do this – ever. You don’t have to take a risk with your credit or your finances, you just need someone to teach you not to!

Schools are still worrying about the mitochondria being the powerhouse of the cell, and they spend significantly less time teaching kids how to balance their bank accounts and pay their bills. With that in mind, it’s important to learn how to be smart with your cash as early as possible to avoid credit issues in future.

The consequences of poor financial management can impact your ability to get a mortgage, a credit card and even can lead to trouble getting a job in specific industries. Without the right advice, you could be heading to advice from bankruptcy lawyers instead, and most people would love to avoid this if they can! So, with that in mind, here are some tips to help you to be smarter with your cash!

1. Start tracking your spending and do it now, not later. For one month, write down every single place you spend money. All the little trips to the shops, to get a coffee, to buy a bottle of water while you’re on a walk – start looking at where your cash is going. Once you can see the money going out, you can stop spending as much!
2. Always be as consistent as possible about where your budget is being aimed. You need to be able to see that your budgeting is working and that means fighting the urge to splurge!
3. Combine your finances if you’re married. There shouldn’t be a “his and hers” except for whatever is left after you pay bills. Doing this will help you to have independence and a shared goal with your bills, too.
4. Automate your savings. If you ensure that your savings are going at the end of the month the same day that you get paid, you’re not going to miss them and you’re not going to see them. This will help you to save easily without noticing it.
5. Calendarize your bills where you can! You need to have a calendar on the refrigerator or the wall specifically to mark where your bills are due each month. When you do this, you can visibly see everything you need to pay – which can make a big difference to your budget.
6. Have an emergency fund set aside for all of the issues that could crop up. Broken car? Broken freezer? These things happen, and an emergency fund helps you to get ready for them. You can be prepared when those emergencies hit and you won’t have to worry about paying for them!

All of these tips are going to help you to manage your money and be smarter about your cash, avoiding debt and bankruptcy as much as possible!