5 Personal Financial Management Tips 

Financial freedom can help reduce your stress levels immensely. That doesn’t mean you need to be living a life of luxury, but you do need to ensure that your finances are under control.


According to Will Smith, “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” Being around some of the richest people in Hollywood and having a net worth of 250 million last 2016, he probably knows what he’s talking about.

For the past few years that I have spent delving into adulthood, I learned that it’s extremely vital to know how to manage personal finances and save money.

I’m no expert, but here are some personal financial management tips I’ve learned:

1. Create a financial vision board.

Visualization is a powerful tool to reaching your goals. When you know exactly what you want, it keeps you focused on what you have to do to achieve it. A vision board will help you keep track of where you want to be in the future, so you can keep moving forward.

I tend to forget my lifelong dreams and aspirations when I fall into a low episode, so I created a vision board a while back. I can honestly say it has motivated me at certain times when the future looked dim for me.

It’s really simple to make. Just collect photos that represent what you want in life, and create a collage. For my vision board, I used photocollage.com.

Vision Board

2. Practice self-discipline.

As you grow older, you’ll realize the blessings and responsibilities of being an adult. Personally, I need to make sure that I always pay the basic necessities on time. Otherwise, I will be the one left to without electricity, water, or a house to live in. So I need to learn how to manage finances effectively.

I admire parents who teach their kids financial literacy at an early age, because they will reap the benefits of that when they grow older. It could be as simple as learning how to save a few coins at a time to buy a toy eventually.

It’s better to invest and save now, and reap the benefits in the future.

3. Avoid falling into the credit card hole.

We need to remember that using a credit card means we will be paying for things we purchase with our future earnings. If you can save and pay for something with cash, do so. Be careful with how you use your credit card, and make sure that you are not biting off more than you can chew.


4. Spend money on skills and experiences.

Things get broken but memories can last forever. When you hear a dying person’s last words, it’s never about their luxurious car or mansion. People remember the happy times or things they could have experienced or still want to do. So why not invest on relationships with your loved ones or building skills for personal development instead of splurging on material things? Have dinner out with family. Visit a theme park with friends. Travel to different places. Learn something new. Use your resources to build a life without regrets.

5. Track your expenses.

I can’t count how many times I’ve felt broke and asked myself, “Where’d all my money go?” That’s probably the reason why I don’t have much savings at this time. But I want to change that, so I created the Daily Warriors Budgeting Spreadsheet. I know there are different Financial Management spreadsheets online, but making one myself made it easier for me to understand. I’m not a pro, so it’s as simple as typing in expenses (rent/water/electricity/internet/personal care) and income. This would help in tracking a pattern on spending habits and make any necessary lifestyle changes.

Daily Warriors Financial Management Spreadsheet

You can check it out here, and create a copy for yourself if you’d like to try it out. 🙂

I’ve also found a Budget & Bill Organizer at my church’s bookstore, and it has pockets to keep receipts. I purchased it today, and I’m so excited to use it!





Ultimately, discipline with finances has a lot to do with wise decisions and delayed gratification. When you’re struck with the urge to buy something, ask yourself, “Do I really need this?” If the answer is no, then you might be better off without it.

Reflection Questions:

  • Have you attained financial freedom?
  • Are you under a lot of stress due to debts or lack of money?
  • What can you do to have better spending habits?


P.S. Financial management is part of my major goals for 2017. I’ve already opened a savings account, and now I need to establish good spending habits. How’s your progress with your goals for this year?





20 thoughts on “5 Personal Financial Management Tips 

  1. What a great post and I think we that spend more than we are earning need to know this. I thank my parents for my upbringing and the financial literacy they bestow upon me. I always manage my little funds and I never go broke 😁. Thanks for this great tips Liz 😉👍

    Liked by 1 person

  2. I always ask myself if really need it or just want it but tend to get the two confused. So instead I have a mantra I tell myself, “I have enough, I am enough.” Thanks for the reminder to think before swiping!


  3. It’s really so important to make sure you keep track of what you are spending on and where your money is going! Otherwise it’s like walking through life blind.
    You are very right with these helpful tips.

    Liked by 1 person

  4. Great points here Liz. I think with almost any goals we set in life, without a plan, its just a wish. That certainly applies to personal finances.


    1. That’s a really good question. I do both. I guess it depends which one you can afford. It’s easier to spend a little amount on a self-help book now and then, but there are seminars/conferences for skills that are worth saving up for even if they cost more.


  5. Hi Liz, I love your post!

    You’re off to a great start with your vision to financial freedom. On your point of avoiding the credit card hole, there are millions of Americans that live above their means and use credit cards for impulsive spending and even to cover for their emergencies. While these are the absolute wrong ways to use a credit card, a credit card can be a great financial tool to leverage if you remain disciplined and stick to your budget.

    Credit cards provide the ability to extend your cash flow by 30-60 days and, depending on the program you have, you can earn awesome incentives, like cash back and points. The most important part of it all is if you are sticking to your budget and living below your means, you will be able to pay off your credit card in full and avoid the interest payments every month.

    Like you said, cash is safe because you know you’ve got it. However, leverage the tools available in the market for your financial advantage.

    I can go on and on about this topic because I’m in the financial services and payments industry. Feel free to check out my post about how to strategically leverage credit cards, while not paying a single dollar of interest.


    It all comes down to discipline and holding yourself accountable.

    Cheers! 🙂

    Alex Castro

    Liked by 1 person

    1. Hi Alex. I really appreciate your views on this subject. You have raised reasonable points about the merits of using a credit card.

      I do have a credit card, but I barely use it especially when I know I wouldn’t have enough money to pay it off within the next month.


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