We have some ideas that might help.
Dialing for dollars—Sometimes all it takes to reduce your credit card interest rate is a phone call to the card company requesting a lower rate.
Pay yourself first—Maximize your contribution to your pre-tax retirement account.
Discover the power of compound interest—Even if you are saving a small amount each week, by letting it compound you earn interest on both your principal and your accrued interest.
Automate your savings plan—It’s easy and smart to set up an auto transfer from your paycheck or checking account directly into a savings account.
Build a three-month financial cushion—These funds can be in a savings account, short-term CDs or a money market account.
Get a part-time job—Look at your priorities and see if your life stage supports the demands of a second job. Then dedicate that paycheck to your long-term savings plan.
Buying a new car?—By selecting a model with a modest price, excellent mileage and low financing and maintenance costs, you can save thousands over the life of the car.
Curb your craving for credit—Use cash or debit cards for most of your buying. Plan credit card purchases carefully and pay off the charges in full each month.
Understand your Social Security benefits—Social Security pays the average retiree about 40% of his or her pre-retirement earnings (higher earners will get even less).
Invest in a good pair of sneakers—Run or walk your way to better health as you reduce the risk of heart disease and stroke – plus you can save big on health-care costs.
No retirement benefits at work?—If your job has no retirement benefits, an Individual Retirement Account is a must. Stay-at-home spouses should consider a Spousal IRA.
Create a budget—Whatever your income level and no matter your goals, you need a budget to track your income and expenses.
Pay off your mortgage faster—By making extra payments toward your mortgage principal, you can reduce the length of your loan and the total interest paid.
Save what you can—Can’t make the maximum annual contribution to your Individual Retirement Account? You can put in less. Set a goal of $500 or $1,000 to get started.
Unexpected income?—Save it! Whatever the source of your windfall – a bonus, raise, inheritance, even profits on a yard sale – put it into your savings account.
Pay yourself back—If you take money from your emergency fund or other savings, create a repayment schedule and pay it back with interest as you would any other loan.
Convert your savings to a certificate of deposit—Once your short-term savings reaches a certain balance, invest a portion in a short-term CD.
Calculate your retirement needs—Studies show 45% of Americans have not calculated their retirement needs, meaning they are saving blindly or not at all.
Establish a college savings plan—By 2020, you’ll need an estimated $225,000 for a private college or $105,000 for a public university.