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The 10% Rule

When you get your paycheck, try to always take ten percent off the top of the pre-tax amount and put it into a savings or other type of account. If you can’t do it every month, don’t fret. But try very hard to keep from dipping onto what you’ve already deposited.

Spend Less (This is Key to Saving Money)

Spend less than you earn each pay period. It seems like common sense, but so many people live beyond their means. Many people also have multiple credit cards and this allows them to overspend. It may seem like a good idea at the time; however, eventually you have to pay that amount back with interest.

Pay Your Bills On Time (We Know it’s Hard)

Make sure you pay your bills on time! If you’re late paying your bills, you can incur a late fee and that can cut into an already limited budget.

Know Where You Stand With Your Budget

Be sure you know how much money you have at all times. That way you also don’t incur non sufficient fund charges from your bank.

Avoid Debt (Rocket Science)

Avoid extra debt to the extent that you can. Taking on small payments might not seem like a problem, but they mount up. Four monthly bills of a mere twenty five dollars each adds up to one hundred dollars out of your pocket every month.

Set A Budget And Stick To It

Set a budget and live by it. It is a great idea to use your computer to keep track. Set yourself some hard and fast goals that you can work towards. If you have a goal, you are likely to push forward. No goals means no impetus to push forward.

Keep An Emergency Fund (Yeah, For Emergencies)

You’ll also want to create an emergency fund and build it up to the point that it equals at least three, or more likely six months of your normal monthly pay.