Money Tips

Create a budget. You've heard it before but it is so true. A budget can help keep you on track money by categorizing your expenses and making them more visible. When you physically see your tallied expenditures, you'll be more likely to save.

Start saving and investing while you're young. The more time you have to save money and invest, the more your investments will mature and make money for you.

Stay away from luxuries until you're rich. Unless they're investments, large ticket items just drain your wallet. Avoid the temptation.

Keeping your residence neat and organized will help highlight the various features of your home. Unwanted clutter can make a house seem smaller and less engaging to the buyer.

Avoid extended life insurance policies. You'll just be throwing your money away.

Pay yourself first. Have a portion of your paycheck automatically deducted so that you don't see it. There's an old saying, "Out of Sight, Out of Mind." If you can't see it, you'll be less likely to spend it.

Get rid of all your credit cards but one. Eliminate the temptation of spending money.

Pay off your bills. - Period! Do not acquire great debt.

Avoid wasting time. Trips to the beach or to Vegas are nice but are you earning money? Be sure you balance your vacation time with your work time. Nobody wants you to be a workaholic but you also must understand that some people don't work hard enough. They spend way too much time on vacation.

Learn new "money habits". Buy a piggy bank and develop a daily routine of putting money in there. You must be smart about spending as well as smart about investing. This takes a little education and developing good habits. Practice with small investments and work your way up to larger ones like stocks and bonds.

Grandma and Grandpa had the right idea when they threw their change into a cigar box and took it to the bank when the box was full! These days, you don't have to sit down and roll coins into those annoying little paper tubes Grandma and Grandpa used to use. Many banks now have machines that sort out your collected change and give you a receipt which you can take to a bank teller along with your deposit slip so all that loose change goes right into your checking or savings account.

Do NOT confuse this feature with the coin-collecting machines (such as Coinstar) found in supermarkets, discount stores and other commercial locations. These machines take a portion of your coinage (usually 3 to 8 cents on the dollar) as a service fee. Bank machines do the work for free if you have an account with the bank.

If you have a savings account, keep it just that... for savings. Some people are tempted to dip into their savings when they want to make a luxury purchase, but that defeats the purpose of having a savings. You should use your savings for building towards the future and actual emergencies.

If you have kids - start saving for college when that are young! See if your state has a 529 plan an enroll in it. Put away as much as you can afford every month.

Find a good financial adviser. Ask your friends who they use and interview a few advisers before you pick one.

Max out your 401K - if you have one. If your employer offers a match make sure you are taking full advantage of it.

Teach your kids how to save when they are young! Once they are old enough encourage them to get part time jobs.

Shopping should not be a hobby. Buy things you need - but not more than you need.

Shop for great values not great prices. Look for things that are built to last or have features that will make them easy to use.

Clip coupons and keep them in your car.

Buy things you know you use a lot of in Bulk. Never buy something you haven't tried in bulk. If you hate it you will be stuck with a Lifetime supply of it.

Use online resources like Edmunds.com to research new car prices before you go to the car lot. Know the invoice price and any rebates the manufacturer is offering.

Buy the best home you can afford. A well built home on a good area will grow in value. (Just don't get in over your head!)

Beware of Bubbles. We all want to find the next big stock or investment opportunity. The problem is that by time the average investor hears about it the time to buy-in is long past.

Learn to enjoy living within your means!

Keep at least 6 months of income socked away for hard times.

Ask you bank for a better interest rate on your saving or money market account. They often have short term special rates they can got you in on!

Shop around - get at least 3 quotes on any Home Improvement.

Invest in things that will add to the value of your home - like kitchen remodel.

Keep an old jar handy and fill it up with you pocket change. I use rolled $180 dollars in spare change - at adds up.

Take advantage of cash discounts for Gas, Furniture or anything else. On a big purchase ask the merchant if their is a discount for cash.

Pay off loans early! You can save thousands in interest by paying a loan off early.

Always pay over the minimum on your credit card bills. If you have a low balance pay it off completely every month and you will be charged little to no interest.

Avoid pay day loans. The interest is astronomical!

If you have a debit card use it only to withdraw money from the bank according to your weekly budget. When that cash runs out it is time to stop spending. After a few weeks you will learn to buy only what you need rather that what you want at the moment.

When you go shopping take a list and stick to it - don't be an impulse buyer.

Plan you budget so that you have a little something at the end of the month left over as reward for saving. Saving should make you feel good and give you something to look forward to.

If your financial adviser does not return your call within 24 hrs - find a new one! That person should give you A+ customer service every time.

Try to establish a saving goal for the year. Pick a number that is realistic and map out the monthly or weekly contributions needed to reach your goal.

Try to avoid Leasing a car. Buy your next car and keep a long time! An even better idea is to buy a low mileage used car.

Get the most of your money - Shop around and read product reviews before you buy. It can be very frustrating to save up for something only to find out it is a piece of junk that you can not return!