During October, we tweeted the following personal finance tips on Twitter to help you achieve your goals. The key personal finance tip is to learn how to spend within your limits. When developing your spending plan (a.k.a. budget), include allocating money towards your goals – such as paying off debt, saving for a new home, saving for retirement.

Live on less than you earn to build your emergency reserve and save for your goals.

Develop a budget and build your emergency reserve before self-employment – most businesses take 3-5 years to build.

Teach your child about money gradually — focus on simple concepts such as saving and spending within limits.

Be realistic when lending money to relatives – consider if you can really afford to and realize you may not be repaid.

In order to adjust to economic changes – whether growth, recession or stagnation – you need to know how you spend money.

References for these tips can be found below. Follow us on Twitter for personal finance tips every Tuesday. Click here to follow us.

How to Create a Self-Employed Budget
5 Tips to Help Your Child Learn About Money
When relatives ask for money
How Americans Will Adapt to Lower Living Standards