When you have questions about personal finance or just need tips on handling your personal finances, you can find them here. We’ll discuss everything from credit card debt and mortgages to saving money for a rainy day or retirement.

We understand that no matter how well you manage your finances, there’s always something that pops up and wrecks your carefully planned budget. We also understand that some people were never taught how to budget, and they may feel as though they are drowning in debt with no way to get out. People on both sides of the personal finance fence can benefit from the site.

Building a Solid Foundation

One of the ways you can get through a financial crisis a bit easier is to have a solid foundation. While it’s ultimately best to have that in place, not everyone is able to do that. Some may have been in the process of building a solid foundation when national economics took a turn for the worse. Some may have been doing well in previous years, but a job loss or medical emergency put them in financial straights.

Tips and Guidance By a Regular Person

No matter your position, you’re sure to find some tips and guidance to help you understand more of the basics of personal finance and to hopefully better your position. Keep in mind that not everything you read here will help in your situation or may be suitable for you to do. You may even try something and have it fail – but that is a risk everyone – even rich people – takes. They try something to make or save money and hope it works.

The Simple Riches is all about handling personal finance – managing your money wisely and efficiently. Financial security can be hard to achieve even when people manage their money, especially when the economy is in the dumps. The Simple Riches provides tips and tricks to help you cut corners without sacrificing quality, how and where to save your money, and how to earn extra money.

Budgeting for Financial Success

The core of personal finance is budgeting. The first step toward gaining control over your finances is learning how to budget and stick to the budget you create. A simple budget tracks your income, when it comes in, and when you spend it on expenses. You’ll be able to see what you spend and where you can cut those expenses because of a pay cut or where you can cut so you have more for saving and creating a retirement account.

Emergency Fund

One thing that people often don’t budget for is an emergency fund. Because life is so unpredictable, that is the first thing you should budget for. You can use it for vehicle repairs, home repairs, medical expenses, and any other unexpected and unforeseen expenses. A typical emergency fund should cover up to six months of living expenses.

Minimizing the Debt Burden

Having credit cards and other debt is often helpful, especially if you find yourself in a pinch. However, you are wasting money by paying high interest rates on credit cards and personal loans. You can still have credit cards – but there is a way to manage them to save extra money.

Investments

You may think you’ll never see the day where you can invest money to save for retirement or your dream home. However, creating a separate account in your budget for investments makes it easier – and once you start automatically investing that money on a weekly basis, you won’t miss it.