Three Basic Principles of Personal Finance

When it comes to personal finance, everything can be distilled to three basic principles:

  1. Spend less than you earn. Save money.
  2. Make your money work for you. Once you’ve saved it, invest it to make sure it grows.
  3. Protect your money. Make sure you have an emergency fund.

Using a tracking mechanism like Mint or another program will help you know where your money is coming from and going, so that you can make any changes to your budget or planning.

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About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.
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