1. Build An Emergency Fund
Life is funny in that it will throw you unexpected curve balls. Be prepared by having an emergency fund. From a new radiator on your car to a leaky dishwasher in your home to a job loss things will pop up and you'll sleep sounder, be more prepared and take a lesser hit in the long run if your prepared by having an emergency fund.
2. Try An Online Savings Account
Opening an online savings account is not only quick and easy but generally pays a higher interest rate and is still FDIC insured just like a savings account at your bank. Ally is one of the more advertised online banks but look into others as well. Another nice thing is you can monitor your interest earnings online.
3. Be A Couponer
Okay, so you don't have to be like Honey Boo Boo's mother and have rooms stocked with 400 rolls of aluminum foil but clipping coupons is a great way to look after your bottom line. Learn coupon strategies and you'll save big money on groceries as well as other things. There's plenty of online resources and coupon groups on the net you can check out.
4. Don't Be A Mall Rat
This may not be a huge one, heck maybe you havn't been to the mall in ten years but stay clear or a place like the mall who's only goal is to seperate you from your cash. Even if you don't make any big purchases or walk out with a new wardrobe that cd, Auntie Ann's pretzel and hat you buy that seem like small purchases do add up and do put a dent in your bottom line.
5. Sleep On It For 2 Days Before Making A Major Purchase
After doing exhaustive research into the best value and not just the cheapest item sleep on the purchase for two days. Ask yourself...do I really need this item? Do I really want to spend my hard earned money on this item? Will I regret making this purchase later? If you can answer these questions and are happy with your answers go ahead and make the purchase. Waiting two days will generally keep you from making an impulse buy and allow you to do more research.
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