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.Some of the most common ways a low credit score can affect your personal life

​1. The quality and level of employment you are able to obtain

​2. Your insurance rates particularly auto insurance

3. Community you are able to obtain housing in

​4. Interest rate you are able to obtain on a mortgage, auto loan, or credit card.

​5. In several case social and marital status, however this can be psychologically driven.

Organizing household personal or household budget is imminent before investing in future or retirement goals​

​According to the Bureau of labor statistics and census the average cost of living (http;// for a single American is $20,194 annual and $53,383 for a household of three. taking into account one child and a couple. This includes the basics food, housing, car, healthcare, and entertainment.

​                          individual                 household of three

​Food                   $2,571                        $7,713

housing               $6,8444                      $20,532

car                       $$3,442                     $10,326

healthcare           $1,190                        $$3,570

entertainment      $1,134                        $3,402

in contrast the American Policy institute of American workers show that a stunning 35 million American workers, roughly 26% of the total work force, earn less than $10.55 per hour. Given a forty hour work week this calculates and annul gross of $20,256 slightly below the average cost of living for an individual. With the average median income in America being $24,062 this puts 35 million Americans below the poverty line and unable to invest in future retirement or accumulate any substantial savings to create a managed portfolio. However if you are one of the fortunate ones to be earning at or above the average median income of $$24,062 for an individual you should began to consolidate any debt you owe and pay it down to a level where you can increase your budget surplus. Consolidating personal budget and money management strategic habits must be a main priority before investing in wealth building manage portfolios and future retirement growth.

Budget cashflow and personal net income

​It is far to easy to fall into a financial deficit  however pulling out can be completely the opposite and very nail biting and teeth grinding. In most cases most personal or household deficits occur when individual or couples fail to prioritize spending habits. Depending on the depth  of the deficit in relation to the net cash flow it could take a few years to pay down debt and return a budget surplus. Being in a deficit could disable an individual or couple ability to invest in wealth building portfolios and future retirement goals. One way of avoiding a deficit is to monitor all spending for over budget consumer purchases, and avoid the dreaded impulse spending. (hint) One way merchants disarm consumers into impulse spending is lots of loud background music  eye catching tags, colors, and aromas. When budgeting net income it's best to spend no more than 80% on the budget which leaves 20% in surplus cash. This amount can be dispersed into 10% investment and 10% savings. Watch for things that could put  possible leak in the budget such as annual or monthly subscriptions like gym memberships, virus software, or newspaper subscriptions. One solid way of consolidating such spending is to have two separate checking accounts one for basic living such as  cost of food, rent or mortgage, utilities, and transportation. The other checking account can be used for student loans, credit card payments, and entertainment.

Managing emergency funds

​Now that you have maintained a 20% surplus in net income cash flow it is important to consider a

emergency fund. Emergency fund is necessary in cases such as a job loss, unexpected medical cost, or auto repair. Utilize half of the  20% surplus until there's at least three month's worth living cost. In this case it would be easier to have a separate savings account particularly for emergency fund, and the other for investment funds. You could consider some of the higher yielding savings account for an emergency fund. In most case these higher yielding accounts pay very high annual  interest in  comparison to a regular savings account however they carry more restrictions such as earlier withdrawal penalties that may eat a little of your earned interest. One particular company that offers a very hefty yield is  Ally bank with no minimum deposit and a fixed APR.

Managing Savings​

​Once emergency fund is situation and earning interest now it's time to consider the other 10% being utilized in investment toward growth in future wealth and retirement. As for option for savings

​account consider utilizing the 10% for investment. You want your money earning as much as possible. For some suggestions you can take a look at some of the various Roth  IRA accounts which are savings accounts as well. Some of the Roth accounts are traditional and IRA account which can be open with as little as a $1,000. An IRA account would be a better option for investment savings because of the higher return in comparison with regular savings.

​Once you have sustained responsible money management priorities, and a manageable level of debt your budget can handle without eating into your surplus cash you can begin to put money to work building wealth and future retirement goals. Managing your cash flow and net income and keeping within a restrictive budget are main ingredients to keeping a surplus. Surplus in the budget allows sufficient cash growth for investing money in appreciated assets such as stocks, bonds, and commodities for building wealth and future retirement. An ample amount of surplus also allows you to set aside a good emergency fund which in a lot of cases can be unavoidable.