You might have heard the saying, “Never let anyone care more about your money than you do.” When it comes to personal finance, many people ignore it entirely, putting their futures at great risk. Logically, we know what we should do, but emotionally we’re paralyzed when it comes to seriously dealing with our personal finances. Sure we pay our bills on time and maybe occasionally balance our checkbooks, but that is barely touching the surface of what is truly needed. Not knowing where to begin and/or afraid of making mistakes keep many people from doing what is really necessary for their financial well being.
Here is a general checklist to get started:

Banking

Begin by evaluating where you do your daily banking. Are you paying too much in fees? Are you paying too much in interest on loans and credit cards? You might consider a credit union. Bankrate.com is a good resource for finding low rates.
Bankrate’s 2013 Credit Union Checking Survey shows 72 percent of credit unions checking accounts remain free, while only 39 percent of banks have free checking according to Bankrate’s most recent checking data from banks.

Credit

Your credit record and credit rating strongly influence whether you get a loan and what the terms of the loan are -namely the interest rate on that loan. One good thing to do is to take advantage of the free copy of your credit report that you’re entitled to each year from each of the three main reporting agencies.

TransUnion
www.transunion.com
877-322-8228
Or write:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348

Equifax
www.equifax.com
800-685-1111
Or write:
Equifax Credit Information Services
P.O. Box 740241
Atlanta, GA 30374

Experian
www.experian.com
888-397-3742
Headquarters:
475 Anton Blvd.
Costa Mesa, CA 92626

An annual review of your credit report is a VERY good idea. You can also subscribe to a service that will alert you when there are potential problems effecting your credit. You can check online for such services.

Debt

It is always wise to seek out the best financial terms before choosing a mortgage, credit card, or any loan. You can also sometimes improve your situation by periodically reviewing current available interest rates. Sometimes refinancing a loan will improve your financial picture and your ability to pay debt down faster. Once again, Bankrate.com is a good source to compare interest rates for various consumer debt products such as mortgages and credit. cards.

These three items (banking, credit and debt} are the essential starting points on the checklist for making sure you are managing your personal finances. If you do this and are living within your means you can feel confident about your financial picture knowing it’s healthy and has a strong foundation .