Tip 7. Don't turn down free money
Definitely take advantage of employer 401(k) matches.
Everyone agrees: 401(k) plan is one of the best tools for creating a secure retirement. It provides you with two great advantages. First, all contributions and earnings in your 401(k) are tax deferred. You only pay taxes on contributions and ...
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Tip 8. Use FSA accounts
Use your flexible spending accounts to the fullest.
Flexible Spending Accounts or FSAs allows you to pay many medical, dental and child care expenses using pre-tax dollars. This means you are not paying taxes on the money you put into FSA account. If your employer offers ...
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Tip 9. Highest interest CDs
Shop around for highest interest certificates of deposit.
If you use certificates of deposit (CDs) as a safe place to keep cash and get income, you are not finding good returns right now. This is because Federal Reserve keeps interest rates artificially low to stimulate the economy. But this could not go ...
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Tip 10. Automatic savings plan
Don't trust yourself - set up automatic savings plan.
Automatically deducting money from your checking account into your savings account is the main idea of one of the best personal finance books ever - "Automatic Millionaire" by David Bach. Most financial gurus recommend this ...
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Tip 11. Have an emergency fund
Set aside 3-6 months of household expenses.
With so many people loosing jobs and the risk of double-dip recession being high, setting aside 3 to 6 months emergency fund should be one of the main priorities. Most personal finance books agree: this is the first thing you should do - after ...
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Tip 12. Get health insurance
Insure yourself against financial ruin with health insurance.
There should be no higher financial priority in your life than health insurance. Without it, if your health takes a turn for the worst, hospital bills could easily bankrupt you and your family. Even if you are unemployed, it is likely that there ...
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