10 Money Making Tips – Everything You Needed To Know
October 22nd, 2009 | 
Author: 10 Money Making Tips – Everything You Needed To Know To Make Money In Todays Market
Here are my weekly money savings tips:
1. Maintain a good credit score! It will save you thousands of dollars in the short and long term when you need to borrow money to buy a car or a home. Creditors will give you an interest rate and the loan amount based on your income and credit score.
2. Large sums of money should NEVER be left in a checking account or even a lowinterest bank savings account. Rather put the money into a high interest savings account like an ING savings money market fund or other forms of short term high interest investments with a fixed return.
3. If you have an employer matching 401K plan maximize your contributions so that you double your money!
4. Set aside 10 of your paycheck towards some form of long term savings account like a money market account mutual fund retirement plan or 401K. As you pay amount increases your contribution will also increase automatically. 10 will also ensure that you stay ahead of inflation.
5. One of the best investments you can make is to first pay off all your high credit card debts. Credit cards typically carry a high interest rate and by paying off these debts you get one of the best returns available which also is taxfree.
6. If you are losing sleep over an investment whether its a stock mutual fund or retirement plan its not worth it! Your lack of sleep is probably a good indication that it may be too risky too good to be true or just not the right invesment for you.
7. If an investment is projecting returns that are just too good to be true they probably are. Unless you are intimately involved in the investment or are an insider an investment that sounds too good to be true is probably too ambitious too risky or just a scam.
8. Before you invest in something always do your own research. Consulting with others and getting a second opinion is good but you need to investigate for yourself. The internet is typically the best source for lots of information but make sure you read enough or get relevant data.
9. Always negotiate for commissions or fees paid for financial or real estate advice. Dont be misled by standard commissions and nonnegotiable fees. It is your money and the experts work for you.
10. Cant get out of debt? If you are having problems meeting your debt payments each month and feel like you are digging a deeper hole go talk to your creditors and banks to find a solution to get out of the mess. Beware of debt consolidators as they could charge higher interests in the long term and get you even deeper into debt.
If you like any of these tips have questions on some or have some feedback I would like to hear from you. Visit this article by clicking on http://www.financialresource.org/blog/10moneysavingtips/ and Post your comments. Look for more money saving tips each week!
Happy Springtime and be Money Smart!
About the writer:nbsp;nbsp;Money Manager is part of the community at Financial Resource: Your Path to Financial Freedom!
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