Tips to Manage and Improve Your Personal Finances | Money And Finance

(StatePoint) August 14 is National Personal Finance Awareness Day, an excellent occasion to assess and improve your finances. And if you’re like many Americans, having a better understanding of money management is a priority for you right now.

In fact, nearly 75{8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd} of Americans hope to improve their financial literacy in 2021, according to a recent survey conducted by OnePoll for World Finance. The same survey also found that 50{8a924211cc822977802140fcd9ee67aa8e3c0868cac8d22acbf0be98ed6534bd} of Americans need advice on how to budget properly.

“While money matters can seem overwhelming at first, there is a simple formula for successful personal finances: know your credit score, create a manageable budget and build your savings,” says Chad Prashad, president and CEO of World Acceptance Corporation, the parent company of World Finance, a personal finance company.

To help you get started, World Finance, which helps over one million customers each year improve their financial situations, is offering the following tips and insights:

1. Know your credit score: Many banks and lenders will let you review your credit score for free on a regular basis. If your credit score has room for improvement, a simple way to build it is through a credit building loan. This is a small loan designed to be easy to pay back, helping you establish positive credit through the lender. When taking out a loan, always be sure to use a reputable lender that reports to credit bureaus so that repaying your loan positively impacts your score.

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