Do’s and Don’ts of Your Financial Life

do's and don'ts of managing your finance

BIG Ideas:

  • Money is an important part of our lives, yet many people are afraid to talk about it.
  • How you manage money now, in your younger years, can impact your financial future.
  • Saving, managing debt, and building your financial knowledge can lead you to financial success.

People just love to talk. They talk about their dreams, interests, jobs, even the weather. But there’s one very important subject people don’t talk about – money. Maybe they think they don’t know enough to have an intelligent conversation or are worried that they’re not where they should be financially.

Whatever the reason, they’re missing out on a very important learning experience. Talking about money can help a lot, especially when you’re at this point in your life – the start of your financial journey.

Let’s have at it.


  • Create and stick to a monthly budget.
  • Watch expenses that can really add up like subscription and food delivery services.
  • Keep track of your account activity using mobile or online banking.
  • Pay yourself first by making saving money a habit and part of your monthly budget.
  • Set aside a portion of your savings for emergency funds.
  • Live within your means by ensuring your income always exceeds your expenses.
  • Avoid accumulating high-interest credit card debt.
  • Establish and monitor your credit regularly.
  • Request your free credit report every year at
  • Automate your bills to ensure you always pay on time, every time.
  • Know your student loan balance, interest rate, and the portions of your loans that have repayment advantages, such as income-driven repayment.
  • Look into refinancing student loans to save money. Our refinance calculator can help.
  • Ensure your housing expense does not exceed 30% of your income. Move back home or get roommates to keep costs down.
  • Manage transportation expenses –  avoid having a car or calling an Uber and use public transportation if you can.
  • Find like-minded friends who care about managing their money, too.
  • Learn about personal finance – read blogs and attend seminars to build knowledge.


  • Purchase things you can’t afford with a credit card.
  • Use all of the credit available to you on a credit card.
  • Miss student loan or credit card payments, which can result in costly fees and damage to your credit.
  • Let credit card balances pile up. Pay the balance in full when you can, or look into balance transfer offers.
  • Avoid bills you can’t afford to pay. Open your statements and contact the credit companies to let them know if you’re having difficulty.
  • Hang out with “over-spenders.”
  • Adopt a YOLO attitude when it comes to your money. If you don’t have money to spend on something, don’t do it.
  • Be afraid to talk about finances or ask for help.

Brazos is here to make your financial journey easier.

For more than 40 years, Brazos Higher Education has been helping college students succeed. As a Texas non-profit, we can offer you BIG savings on various student loans and helpful guidance to ensure you build the financial future you deserve. Contact us today!