How to create better personal finance habits

‘Money: It’s Personal’ series airs Tuesday on the News at 9

SAN ANTONIO – Sometimes it's hard to build good habits, but they can benefit you in the long run if you stick to them. That's also true for dedicating time to create money habits to manage your finances better.

The Consumer Financial Protection Bureau has some tips to help you manage your money by creating better habits.

How to make saving easier for yourself

First, only apply for credit when you need it. A good credit score is vital for your financial well-being, so one way to get and keep a good score is to only apply for the credit you need.

Next, you're entitled to a free credit report every 12 months, so it's ideal to set up an annual reminder to be up-to-date and spot any potential errors that may be hurting your credit score.

The CFPB also suggests setting up bank alerts to notify you of your checking account balance at the end of the week or if your balance gets too low. These notifications can protect you from incurring any overdraft fees.

Tips for finding best insurance rates

If you have a financial emergency and you can't make bills this month, act fast and call your creditors. Missing a bill payment may have negative economic impacts, so it's best to call your lenders or creditors before your due date to see what options you have available.

Lastly, when you're shopping for a loan, get quotes from at least three lenders. The CFPB says one of the best ways to save money on a loan is to shop around and get estimates to compare terms and fees.

For more tips from the CFPB, click here.

“Money: It’s Personal” is a series on KSAT’s News at 9 that breaks down personal finance topics. If you have a suggestion or question on the types of topics you’d like us to explain, email

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