Money Tips

  • Negotiate with service providers on major purchases (like a crown at the dentist or a surgical procedure at the doctor). The world is full of service providers – get a deal!
  • If you have kids and a spouse, get good level term life insurance!!! You can get good quotes at Zander.
  • Budget for a vacation and put your spending money in an envelope (or a set of envelopes). This will guarantee that you will not exceed your budget.
  • When planning a large expenditure, let friends, co-workers, and family know what you are saving for. Many times, they will be able to locate that exact item in a slightly used state for 25% of the price of new.
  • Use Microsoft Money to track your money. It allows you to see exactly where you are spending money and generates some cool reports to help you think about your options.
  • Use Microsoft Excel to develop your monthly budget. It takes out all of the calculator/pencil erasing time and allows you to focus on the actual expenses/income part of the budget. It also prevents you from getting pencil erasor all over your clothes!
  • Keep copies of your monthly budgets. After doing 12 months worth of monthly budgeting, you will be able to pull up your previous year’s budget for the same month and ensure you are not forgetting an upcoming expense. Plus, it is just plain fun to see the progress you have been making!
  • Plant a garden. It is a great time for family to work together to create something that will yield excellent food dividends! That saves money! Check out this web site to buy some seeds if you want. I love Burpee.
  • Sell some junk out of your garage or basement. You don’t use it anyway. So what if you used to use it. Get rid of it and turn it into something cool – like a paid-off credit card that has been shredded.
  • Review your spending habits in detail at least once per year. Where could you tighten up the budget? Where do you need to start spending more money? What could you do to take your personal finances to the next level? Do this with your spouse!
  • Teach your children about money! Do this through paying them commissions for completing chores. Show them the mutual fund you have set up for their college tuition. Have them send half of their birthday money to the mutual fund so they truly understand that their money is working for them so they can achieve something far in the future (or maybe next year if you have a high school senior!)

I hope this helps out some. I would love to hear some more tips if you have some.

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