FORT WAYNE, Ind. (WANE) – A local financial coach weighed in on everyday changes that can lead to financial success during Financial Literacy Month.

Rasheena Cole, Finance Coach and Bookkeeper at The Money Whys Financial Coaching, said there are five things you can start doing right now:

  • Make a habit of saving: even if it’s just small increments at a time.
  • Live off of less than what you make: that way when surprises come, you are not in a panic and you have the money to take care of it.
  • Set financial boundaries: it’s okay to say no to people and things, or give yourself a budget for spending.
  • Take time to learn something new about finance: for example, if you’re wanting to pay off debt, do some research on different methods on how to do it.
  • Know your numbers

“Know how much money you make, know how much money is going out what you’re paying your bills on. Once you have a grasp on that number, you can determine what other goals you want to achieve. So if you have a savings goal, if you have a goal to pay off debt, you know what number you’re working with after you are paying everything every month,” Cole said.

For those working to pay off student loan debt, Cole said to use the pause on student loan payments to your benefit by contributing anyway.

“Take advantage of the 0% interest that it’s gaining right now so that you can attack that principle and also just find ways to constantly add money to it,” Cole said, “When it starts up again, find ways to attack that principle so that you can pay it off sooner and not have this thing hanging over your head for a long time.”

Cole said ways to do that are made by budgeting and setting boundaries. Cole also said it’s never too late to learn something new about finances.

“Always educate yourself that way you can make the best financial decisions for your situation,” Cole said.