Getting smart about money does not have to be a chore. In fact, a few simple tweaks to your finances can result in major savings and a happier life. To start, you’ll need to track what you spend.

There are many tools available to help you do this. You can use spreadsheets and online budgeting apps. Or you can simply make a list of your expenses and subtract those from your income. The goal is to stay within your means and avoid squandering your money on unnecessary items.

One of the most basic and effective ways to become smart about money is to get out of debt. It frees up your income and lets you invest it for retirement or other purposes. Investing is a great way to build wealth for the future. You’ll also want to look into the benefits of smart investments.

You can also practice gratitude to improve your financial wellness. Buying a cup of coffee may seem like a frivolous purchase, but if you save it for a special Friday ritual, you’ll find that it adds up to big savings. Also, don’t be afraid to reuse, recycle, and hunt for good deals. You can get creative by finding new uses for items that you’ve had for years.

The best way to be smart about money is to set goals. Set big goals that are well defined. For example, you can save for retirement or pay for your child’s college education. If you set goals that are specific, you’ll have an easier time meeting them. It’s also a good idea to share your goals with others. Having someone to cheer you on will help you reach your financial goals.

Another tip is to automate your finances. Using apps or software can make it easy to track your spending and avoid temptation. You may also find it easier to stick to your budget, and to avoid making bad financial decisions.

The most important thing to do is to make a budget. You can write a list of your needs and wants. You can then create a budget that consists of your expenses in each category. Then, you can determine where you can cut back. If you’re trying to save money, it may be as simple as canceling your paid TV service or cutting back on your video game spending.

If you’re looking for more information on how to be smart about money, try the Smart About Money website. This site has a clean and user-friendly interface. It also offers a variety of financial literacy resources including calculators, worksheets, graphics, and articles. It also has a section dedicated to frequently asked questions. Smart About Money is part of the National Endowment for Financial Education.

The site also offers a Lifevalues Quiz to show you which are the most important financial functions. In addition, there is also a free eBook, “Save Your Money, Change Your Life” that is about 60 pages long.