Celebrate National Financial Awareness Day With These Three Tips
Today, August 14th, is known as National Financial Awareness Day. The day serves as a helpful reminder to learn as much as you can about finances, build a solid financial foundation, and prepare for the future. No matter where you are financially, now is the perfect time to put your finances first and educate yourself on principles like budgeting, saving, and investing.
To celebrate National Financial Awareness Day, here are three tips to help you become more aware of your money.
Tip #1: Have a positive attitude towards money.
What is your first thought when you think about your money? Does it scare you? Are you an optimist? If you are unaware of your financial mindset, learning your invisible money scripts will help you. If your money mindset holds you back from reaching your money goals, you can take steps to conquer your fears. Remember, you are in control of your finances, and you have the power to change your financial narrative by keeping a positive mindset through the ups and downs.
Tip #2: Track your finances.
A key factor in understanding finances is keeping track of your own money by creating a budget. There are plenty of great budgeting methods to choose from, like the 50/30/20 budget or the zero-based budget method. The CapWay app allows you to track your transactions through our auto-filled tracking system or our manual input tracking system, which also allows you to input future transactions.
When you have clarity about your financial situation, then you can start aligning your budget with your different goals like saving for a particular item, paying off debt, or investing in a retirement fund.
Tip #3: Set goals.
We give ourselves a roadmap to have a sense of direction towards the success of reaching our goals. Goal setting is exciting because you gain clarity on what’s important when it comes to your finances. Even if you make a mistake along the way, goals can help hold you accountable and motivated.