Personal finance tips:

Personal finance is often defineds as the principles and you strategies used to manage the financial affairs of an individual or family. But it can be confusing especially if you're somewhat new to personal finance basics – to know exactly which principles and strategies you should focus on and while there are plenty of personal finance tips out there - nearly 12 million pieces of online content have been devoted to the topic of personal finance - sometimes it's best to seek trusted authorities on the subject to help guide you in your personal financing quest.

Here are five key personal finance principles, as shared by some of the most renowned experts in the field.

1.(not after) Track your budget:

 

We've all been there: the money comes in, but at the end of the month we're not sure where the money went (or why). Bestselling author, radio talk show host and financial expert, Dave Ramsey, believes the trouble is many people use budgets to track expenses, instead of using a budget to guide financial decisions.

 

2. Track your spending:

If you're interested in getting a grasp of where all your money goes, forget scanning your bank and credit card statements. Instead, as financial author Clark howard points out, it can be moren istructive to write down yours Spending, as it happens.

3. Move your credit card balance:

Nothing throws financial viability into a tail spin quite like unsecured credit card debt (especially with interest rates “north of 15%”). It doesn't even need to be an enormous debt amount to put a stranglehold on a budget and destroy what personal finance savings you've accumulated.

4.realize between price and money:

 

Billionaire investment superstar Warren Buffett might be the most influential voice in the finance world. He might also be one of the most frugal. A Jedi master (of sorts) amongst the financial expert set, Buffett believes a big source of personal finance misery for most folks is their inability to distinguish between price and value. Just because something is and quot;cheaper” doesn't necessarily mean it's “better.”

5. Save:

Putting aside money each month can be difficult in the best of circumstances, let alone when scraping together enough for the essentials. And the idea of saving, when you've got little financial padding each month, can seem pointless. But according to financial author and blogger, Whitney Johnson, in an issue of Inc. Magazine, emphasized that perseverance matters almost more than the johnson points out saving just a few dollars a month over the course of many years results in a "surprisingly large amount.” The key is to "save, no matter what.” It might appear gradual, at first, but it can add up rather quickly –not to mention give you an emergency fund in case something unexpected happens.

 

The secret to financial success:

Personal finance basics go fare beyond spending less than what you earn. It's about using tools –whether budgets or 0% credit cards – to provide a simple, clear path to the realization of your personal finance goals, and utilize the wisdom and insights of those who've been down this same road. If you're able to pay less for a pair of quality socks, like Warren Buffett, all the better.