Dr. Arturo Rodriguez, the dean of the College of Business and Social Sciences and a finance professor at the University of Louisiana at Monroe, talks about how to manage your financial health.
On staying financially healthy
Practicing good financial health requires good habits like planning. Planning is not as complex in the terms of financial health. Start by prioritizing our spending, when making a purchase ask ourself if we need it or if we just want it. Then ask yourself if you need it now or can it wait.
By what age do we need to start thinking about saving?
Any time you have the opportunity to save. we need to consider how much money we have until the next paycheck. Budgeting is something very important, and that involves knowing where your money is going. Pay ourselves first; our savings must out last us.
