Our Director of Educational Outreach and FinCap Friday host, Yanely Espinal, appeared on the TODAY show on Nov. 10 to share tips on how to take charge of your spending habits and enjoy a better financial quality of life. Watch the segment for more. 

1. Define Your Goals

Have clear realistic goals around what it means to have a solid financial quality of life. This will be different for every person, so define what it means for you. Focus on being at peace and feeling in control, and not having financial anxiety.

2. Understand Your Present Situation

Know your budget and the financial habits you have. Track your spending and readjust, if needed, to stay within your means.

3. Create a Debt Repayment Plan

If you have debt, create a plan to pay it off. For each of your debts, look at the balance you owe; the interest rate it’s growing at; who’s collecting that money; and the minimum payment each month. Put all the information together to understand which ones to prioritize paying off first.

Want to learn more from Yanely? Check out our FinCap Friday video library or get a copy of her book, Mind Your Money.

About the Author

Hannah Rael

As NGPF's Marketing Communications Manager, Hannah (she/her) helps spread the word about NGPF's mission to improve the financial lives of the next generation of Americans.

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