April is Financial Literacy Month. 

Yep, you probably didn’t know that but it’s okay! Although we are in the last week of the month there is still time to get educated about your finances. The Black Business School has teamed up with BlackDoctor.org to provide three action-based articles that will get your money in shape. Read an excerpt of each article below and click-through to read each full article at BlackDoctor.org.

The Black Business School is the leading e-learning platform for those looking to enhance their business and finance acumen. Learn more about how to sign up for classes at www.theblackbusinessschool.com.

5 WAYS TO GET FINANCIALLY FIT

January 2018 came and you made your resolutions. Get your spending in order, pay off your credit card debt and focus on making smart investments. Well it’s April and your checking account is still in shambles, interest charges are piling up and the idea of savings stresses you out.

Having your finances in order can affect your physical and mental health and is key to securing your future. Here are 5 ways to get financially fit!

1. Figure Out Where Your Money Is Going

Take a look at your spending patterns. If a majority of your money goes to eating out and shopping, it is time to reevaluate your spending. Create a budget for recreation and stick to it. Once you establish where the holes are in your budget, you can use free budgeting apps to create budgets, track what your spending and where you’re spending it. Once you see how all of your expenses are adding up, you can decide where you need to cut back and where you can afford to splurge a little.

2. Start An Emergency Fund

Saving for a rainy day really comes in handy when unexpected expenses come up. If you stay ready, you won’t have to scramble and pull from your savings or use your credit cards to keep yourself afloat. Three months worth of expenses is good but six months to a year is ideal. Be sure to put this money in a high-interest online savings account, a certificate of deposit or a money market account so you can let those savings grow over time.

Stay tuned for additional articles as we round out April.