Annual budgets aren’t just for big corporations or the wealthy. Whether you’re planning for a vacation, saving for retirement or buying a home, a yearly budget is very important. Don’t make the mistake of thinking that just by spending as little as possible you can take control of your financial life. Being financially responsible can be easy with a well-planned budget!

Trying to improve your credit score? Those three little numbers can be crucial if you want to rent an apartment, buy a car, or open low rate, high benefit credit cards. Here are five ways you can boost your credit score and own your future!

1) Leave accounts open

Before you make the decision to close an account, make sure you check if closing the account will negatively affect your credit score. One of the biggest factors in calculating your credit score is the length of time your account has been established, so keeping cards, even when you don’t use them, can help your score.

The holidays can be one of the most stressful times on your budget. Now that the holidays are through, it’s important to take a look at your financial well-being and get back on track in the New Year. Here’s some tips to help you recover and minimize debt from holiday spending.  

Every year, we make tons of resolutions. We sign up for a gym membership and vow to get healthy, we swear to ourselves we’ll start going to bed on time, and we make promises to become healthier, happier people.  But this year, the best resolutions you can make are the ones that affect your finances. Help nurse your credit score back to health, make your checking account happier, or invest in your future and start down the path of a healthier, happy financial year.

For a millenial, saving can seem like a scary word. We often look at saving as something meant for adults looking to buy a house or save for retirement, simply not applicable to us. However, starting to save in your 20's can have incredibly positive effects on your financial wellbeing as you continue into adulthood. Here are some reasons saving is important and some ways to start saving (even if you think you have no money). 

College is the start of your adult life, and you'll start to see some changes in your day to day routine. From paying rent, to grocery shopping, to managing your free time and homework schedule, college comes with a lot of responsibilities you've never had to consider. One of these considerations is your personal finances. You might be wondering, "Where do I even start?". We hear you. Here's 5 helpful tips from our friends at Money Under 30 to follow as a college student getting started in your financial journey. 

Happy President’s Day! Now that there is a nice three day weekend, let’s talk about finances…

No wait, come back!

I know that fixing your finances isn’t the ideal way of spending your three-day mini vacation, but if not now, when? Don’t worry, we’ll try to help make this as painless as possible.

Thanks in part to the time I spent serving in the Army, I have tons of friends with unusual hobbies. Friends who skydive every weekend, with hundreds of jumps under their belts. Helicopter aviators who are learning how to fly airplanes. Endorphin junkies who register for triathlons and adventure races every chance they get.

On the more sedentary side, my parents collect wine and have a cellar full of bottles. And I've been taking guitar lessons for years. But there's a problem with all of these hobbies: the cost.

All the fun pastimes are expensive, or so it seems. Army officer and adventure racer Robert Kurtts agrees. "Adventure races and triathlons not only have entrance fees," he says, "they also have the cost to travel to the race and stay overnight before an early morning race start."

Those entrance fees can range from $20 for a short local race to more than $500 for a national or international class event. Beyond that, Kurtts notes, some races are gear-intensive, and all the necessary equipment can cost hundreds or thousands of dollars.

Kimberly Paine, aka Misfit Merida of the Providence Roller Derby team, says that her sport is putting unexpected pressure on her home life. "Gear, dues, insurance, after parties ... the expected and unexpected costs of playing roller derby have strained our wallets and our marriage," she says. "One pair of skates can cost between $300 and $600, and a set of wheels can cost over $100. The average roller derby player spends about $600 a year on her favorite pastime."

Hobbies like these can get quite costly, and that's not even taking into account the value of a person's time.

Getting debt-free in your 20s can be more than just a dream. It can become your reality if you are willing to work hard, pay your debt obligations as agreed and spend less than you make.

With planning and willpower, following these guidelines can help see you through to your goal.

1. Know Your Budget

Before you can make a plan for paying down debt, get a handle on your monthly budget. How much are you making each month? What are your current monthly expenses? How much are you paying toward your debt obligations each month?

Are there quick ways you can slash your spending? Visit the public library for free Internet access and free books and movies. Stay in and cook more and eat out less. Make your coffee at home.

Apply the money you save to paying down debt.