25% of Americans say they don’t have any emergency savings, and 51% have less than 3 months’ worth of emergency funds saved up. This means that for most people, if they hit a tough spot, it can be stressful to navigate their way out.

If you don’t like the thought of this, then you need to practice better money management. Some preparation now can literally be a lifesaver in the future.

Read on for 4 managing money tips so you can have better financial security.

1. Have an Emergency Fund

The first tip is to have an emergency fund. But this is easier said than done for many.

What we’d suggest is putting away a little bit of every paycheck into your savings account. If that’s not doable, then consider doing that every other paycheck.

Even if the amount is $5 or $10, it’ll add up over time. And by the time you need it, it’ll be enough to make a dent in your emergency, or even cover it fully!

2. Reduce Debt

Americans love plastic, and we’re not referring to surgery here. The majority of people have at least 1 or 2 credit cards, and it’s easy to get carried away with swiping every purchase, especially when we’re trying to earn and save points for rewards.

Even if you make a nice salary, try not to use your cards that much. And if you do, pay off that debt right away. Those rewards won’t matter much when you’re paying an exorbitant amount back in interest.

3. Make Quality Purchases

You might think that buying the cheapest things possible is a financially wise decision. But in some cases, it can cost you more in the long run.

For instance, you might buy cheap shoes for $15 a pair, but they wear out within a few months. Even worse is, they’re not ergonomically designed, meaning you might suffer from problems in your feet, ankles, legs, hips, etc. To rectify this, you’ll need to see the doctor and even take medications in some cases.

Avoid this situation by getting better quality things. They might cost significantly more, but that’s just initially. Good-quality products will last longer and won’t have as high a chance of impacting your health.

4. Go Green

Going green doesn’t only help you reduce your carbon footprint. It also cuts down on utility bills and raises your property value.

Eco-friendly products are also made to last longer since the designers and manufacturers have a vested interest in helping our planet. So it’s a win-win situation!

Learn more on solar installation and see what other benefits you can get from it.

Use These Managing Money Tips for Better Finances

Finance mastery can be difficult. But making small changes in your spending habits can go a long way.

So start staving up, eliminating your debt, and making investments that’ll pay off in the long run. You’ll be able to take good care of your family that way!

For more help like these managing money tips, take a look at some of our other articles.