Are you in total control of your money? Can you account for every dollar and know exactly what you have in your bank account at any time? Don’t worry if you didn’t answer yes to these questions. Most people are not very good at personal financial management and would not be able to say yes either.

When you are not in control of your money then this can really stress you out.  For example if you are uncertain if that purchase that you just made will compromise your ability to pay some upcoming bills then this can leave you in a very bad place.

personal financial management

We all face unexpected payments sometimes and this is just part of life. This can be a medical bill, a hefty service bill for your car because something went wrong, a family member desperately in need of help and so on. If you manage your money properly then you can minimize the impact of these unexpected events.

The good news is that it is not difficult at all to get control of your personal finances. It will take a bit of effort but it will make you feel a whole lot better when you have done it. You can make important decisions when you know where you stand so let’s take a look at some of the best personal financial management techniques that you can use.

What are your Financial Goals?

If you do not have financial goals then you need to think about what you want to achieve financially and write these down. A lot of different areas of your life have a financial impact so start off by writing down goals for the next 5 and 10 years.

If you want to own a home in an exclusive area then you need to break this goal down into financial terms. How much does your ideal home cost? What deposit will you require? What amount of mortgage loan will you need? Will your current income levels support this goal?

Do you have debts at the moment? A good goal to go for is to get out of debt as fast as you can. This is sound personal financial management. Maybe one of your goals is to retire early so you can enjoy more time with your spouse and family and travel the world. Just write all of your goals down as you will be using them to create a personal finance plan.

Good Personal Financial Management begins with a Plan

To achieve the financial goals that you have set you need a financial plan. The plan will have a number of steps which will lead to daily, weekly or monthly actions that will enable you to achieve your goals.

So let’s say that one of your goals is to get out of debt fast. This is a very good financial goal as it will free up extra money that you can use to meet some of your other financial goals. Your financial plan should always include the creation of a personal finance budget which we will discuss a little later.

Think about your priorities when you are creating your plan. What financial goals are the most important for you? If you want to buy a better home, or even your first home, and that is more important than anything else then make that your number one priority. Part of the plan for this could be that you need to increase your income for example.

A financial plan is key to good personal financial management. Always bear in mind that a plan can change and probably will as you will need to deal with some unexpected financial issues in your life.

Create a Budget and Stick to it

People that are in total control of their finances always have a budget. When you have a budget you can then determine what your spending plan will be to achieve your financial goals. So take a giant leap forward with your personal financial management by creating a budget.

If you live with a partner then create your budget together. Use a simple spreadsheet to record your income and all of your current expenditure. Include everything here such as the coffee you buy every morning on your way to the office. There is budgeting software out there that you can use and you can even get a budgeting app so you can keep up to date using your phone.

Once you have created your budget take a look at the things that you are spending money on that you don’t really need. For example you may have a gym membership subscription that you never use and do you really need those expensive coffees every day? Once you have formulated your budget and spending plan stick to it.

If you need Advice on Personal Financial Management then ask for it

If one of your financial goals is to retire early then get some advice from a financial planner on the best way to do this. They will be able to help you with investments and deciding on the best pension plan.

Most individuals do not require an accountant but if you know one then they could help you with the creation of your budget for a small fee. Some people become overwhelmed when they are creating a budget so if you feel like this ask a professional to help you.

Get started on your Personal Financial Management today

Don’t wait around to get your finances in order. Don’t waste any time getting control over your money. Get writing your financial goals right now and then create your financial plan and budget. Start your personal financial management immediately.

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Vicki Lang

I am living in my car and have been for 3 months I need a loan to be able to get and apartment so I can get out of my car. I’m Disabled and taking 4 different medications


Why can’t you go to a shelter for help. Once your in a shelter your able to get into a low income apartment without being put on a long waiting list. You’ll be able to receive one that first opens up. As long as you apply while your in the shelter. Try and see if you qualify for a social worker so they’ll help you out. God Bless.


My son is sick not working I’m on disability what can I do


Dear Vicky I read your story I am so sorry it seems as though that you are stuck…
I wish you Greatness in your life. Wonderful and kind things .
Maybe a Pastor can help .
Take Great Care,,,

Donald Williams

I’m also living in my car now for 2 and a half months too! I can use some help too!


Shelters will help. Medicine some times churchs help. Apply for Medicaid and disabilty
Shelters will give you a address for thm to be in contact with you

Debrana Soto

Your imput to my life right now has given me another inspiration to finding that innerself to keep moving and not feel overwhelmed with a feeling of despair.I cant tell you exactly what I read that worked other then starting from ground one the basics at the beginning.For some reason this uplifted me from feeling so defeated.Being a widow for the third time with everything gone bcause of finances depleated over and over again has had me feelin stuck but I am a survivor.I have 11 grandchildren that keep me going as well.Sorry for going into so much detail of… Read more »


GOD BLESS ALL OF YOU FOR YOUR HELP! Love and prayers, sonji

cinda delano

I pretty much know what your saying about a budget but I always have something pop up and being a single parent with two kids unless I figure it in with the bills that’s the only way I know how to do it

Emma J. Young

I am excited about how things are turning for me….. Thank you Lord

Jay Dillon


Noel Aperocho

I’m retired and fix income depending on my social security I need help on my financial situation.

Wanda Ellis

I need a personal loan plz


I’ll be there

Darryl Speight

I think this was real informative. I believe my life would be much better. If i’m able to master those skills.

Dimple Barnett

I would very much like to start a budget I; like what I have read and as soon as I finish my bible study I will get started.

Courtney Carmichael


Jessica Duarte vasquez

I cant have any bank accounts now due to one of my daughters school loans of 14 yrs ago an my name was sighed as a co signer at the time i was going thorough a separation with there dad an i was working day an nights didint really have the time to sit an read lots of school papers for my 3 daughters she is paying on them loans an shes married has kids of her own an now the last 3 income taxes of mine were taken so iv given up on saveing anymoney cause they will take… Read more »

William Allison

Have you just tried to get a place in your house that you can put some money and not touch it then when you get enough to do what you need to do then you use it or use it for emergencies only.

Shanda M Arnold

1000 to Bough to get a class payed for a insurance job and training for four days..

Kim Richmond

I just need a little help with a financial expense. I have car tags do and my insurance.



Diane Fletcher

I need too learn how to manage my money

Dolores Williams

I need a loan but you have to pay back much.

Rhonda Arnold

I never buy a house before what I need rent and deposit that I can move in so bad also need truck cuz I used walking to the store cause me dizzy and my blood sugar is deep low I have to buy any kind sweet or candy to eat till I feel better then walking back home do again dizzy sweat shaky hard to breath very slow beat my heart I need hurry up drink sugar get back normal wow the reason I need drive easy way to the store and back home be safe i like that also… Read more »


Iwant & get that but the problem is idont have Job im still lookin to get my job & Because idont have ajob icannot pay that & if im not pay ? Im in Trouble idont like trouble & im scared they offer to get the visa Credit card Loan insurance & everything all the credit they offer im scared maybi icannot pay im scared pls understand ….to me thank you ….

Meleasa Gilbert

Thank you Edwin, Sound advice and advice I will surely use! Have a Blessed DAY

Troy Ramsvig

Jive been on disability for over 10 years and have always struggled with either owning a car.or a place to live do to the insurance rates in Michigan. I am now in a apartment that’s rated on my income but can’t get to doctors appointments cause I have no car. Winter is coming and if there’s any help for a loan for a car or anything . please let me know.

Thomas Caisss

I haven’t filed my taxes in 4 years because the IRS states that I owe on a previous claim based upon the fact that I help support 3 children for 9 months out of that year I claimed them.