Money Management Tips

• Get serious about the business of money.
• Keep a list of your goals to remind yourself why you don't want to overspend.
• Keep your checkbook up to date.
• For highest earnings on savings, get highest interest paid, most frequent compounding, least amount of service charges.
• The longer you borrow money, the more interest you will pay.
• Use one bank for as many services as possible, to develop a "Preferred Customer" status.
• Minimize number and usage of credit cards. Minimizing accounts will also minimize postage.
• Keep track of credit card purchases so you can pay bills in full before you are charged interest.
• Never sign anything you do not understand.
• Plan how to spend your money before you get it. When money for any budget category is gone, stop spending in that category.
• After paying off a loan, contribute your new excess to savings.
• Never buy any big ticket item the same day you choose it.
• Keep savings account deposit slips with bills to be paid, so as you pay your bills, you pay yourself, too.
• Learn to manage your own investments.
• Examine your attitude! Consider budgeting as a reward system, not a deprivation system.