Improve your financial health during tough economic times

Don't let the recent economic downturn affect your money management practices. By paying close attention to your spending activities and keeping a reliable budget, you put yourself in the driver's seat to stay afloat during these difficult times. These three tips below can assist your efforts. Take a few moments to review these pointers and gauge your own financial health.

Live within your means to keep your debt level low. There are good reasons to keep your debt level low. In the worst cases, high debt can have a significant negative impact on your lifestyle. Most students are on a limited budget. Check out some strategies to help you avoid the pitfalls of excessive debt.

Maintain a good credit rating. Your credit score can affect many aspects of your life. Whether you need a loan to buy a home or if you apply for a credit card, your credit score is used to judge your reliability and risk. Learn more about the ins and outs of your credit score.

Recognize the warning signs of financial difficulty. Financial problems, once started, tend to get worse if they are left unsolved. Pay attention to the warning signs. If you spot trouble, start turning things around — the sooner the better. Recognize the signs and take action early.


Provided courtesy of SallieMae.com