Finance difficulties are a common struggles among those in the U.S., but one professor at UWSP has some tips that will help you go into the new year aiming for financial success.
"One of the main foundational principles that people should follow is to spend less than you earn," explained Dr. Dave Schalow UW-Stevens Point Professor of Business.
Dr. Schalow mentioned that the key point to saving is to understand that reward you'll get at the end of it all.
Dr. Schalow shared that the basics of a budget are as follows:
Income - expenses = hopefully a positive number
"Unfortunately, for many people this is negative," Dr. Schalow explained. "Most budgeting focuses on cutting expenses, which is the painful part, and why most people don’t want to do it.
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