When you are young it may seem as if financial worries are the least of concerns. Perhaps you are worried most about making a name for yourself in a good job, finding a spouse, or having a great looking car. But it is when you are young that the start of your financial future really begins to take shape. Essentially, the younger you are when you start saving, the more time you have to save more money.

Ideally, when you are young your financial priorities should involve two specific goals: savings and preventing debt.

Savings
Young people today face a much tougher job market than those of years past. They will need to learn how to make and manage their money from the start. They also need to learn the importance of benefits from a job, including health insurance and a retirement plan. Too often the young will be quick to jump into a seemingly great job without a concern for such benefits. If you are not contributing to a retirement fund from the start, you are losing an opportunity to sock away more cash for a longer period of time. Also, it is important the young learn the importance of paying themselves first. For each paycheck earned, a percentage should be immediately put into savings and left untouched. As years pass and savings accrues, there will be more opportunities in the future and less financial stressors.

Debt
Ideally, it is best for a young person to learn early how important it is to spend less than you earn. Getting buried under debt at a young age sets you up for a struggle for years to come. If you are still young and single, it is important to focus on paying off debts fully as fast as possible. Student loans and credit card debt can plague a young person for many years to come and if you start off on the right financial foot, you can work for many years to save your money instead of working solely to pay off bills. Having a healthy savings account allows for more opportunities in the job market. You can be more picky about what positions you take instead of being forced to work at any job just to make an income.

While the economy has thrown many generations for a loop, it is important for the young and single individuals to prioritize their finances while still young to prevent  financial struggle in the future.

After all of the big and important items have been implemented in cutting expenses in order to save money in your budget where do you go next? What are the things you can do to take this even further?

This assumes that you need or want to go further. In these economic times, going farther is desired because you can save money and put it towards debt retirement as well as savings and retirement.

Here are some suggestions to help you go farther in cutting expenses:

Be more frugal than ever. This has to do more with an overall mindset. Being frugal means living simply. Change your thinking from “I have to go out and buy this” to “how can I make this work by using something that I already have?” This singular change in mindset will help to drive you away from automatically spending money.

Household expenses. Look for ways to further cut household expenses. Some people re-use aluminum foil, plastic bags and other such items. Still others make their own soap and cleaning products. There are those who have a “pack rat” mindset and keep things like glass or plastic containers and old t-shirts for cleaning rags.

Utilities. Utility use will go up and down based on the seasons, so you probably have budgeted amount set aside for that category. Always look for ways to reduce your utility usage. Keep lights turned off and use natural sunlight whenever possible. Unplug any charging devices that normally stay plugged into outlets. These use a small trickle of electricity, and if you add them all together, you would be surprised to learn that over the course of a year, depending on the quantity of these devices, you can save around $10 or so. That is not a lot of money, but every little bit helps, right? Now, apply the same concept to natural gas consumption and water usage.

Repair not replace. Look for ways to fix an item, rather than trashing it and buying new. Build up a network of those in your community who know about electrical items and how to fix electrical wires and such. Look for someone who is good at mechanical items to see if they can fix items that are broken. If something can be fixed and it makes sense, you can save more than you think.

Do it yourself. If you are handy, you will be able to save even more, because with a small amount of materials (or none at all) your investment is only measured in the amount of time that you put into a project. Refuse to pay that out to someone else.

Always question. This is another mindset change that you need to implement. Ask questions about how things work. Find out answers by using the Internet. Keep your mind in a questioning mode throughout the day. Refuse to take ‘no’ for an answer unless there is absolutely no other option.

Look at the challenge. Take it on as a challenge every time you encounter an opportunity to save rather than spend on an item or task.

Deplore waste. Decide that waste is your enemy. Not only waste in things that we discard, but waste in your budget, waste in how you live your life. Use up every little resource that you can to make your life better with less waste.

Does this sound strange? Too over the top for you? It is not for everyone, but for those who want to go farther and save even more it can help. Think about how much money can be saved throughout the year if every one of these items is implemented. It will make a difference.

Everywhere you look people are finding ways to save money. A little here, a little there and it all adds up to a lot each month. Saving money means frequenting places and sites that can allow you to get what you need for a lot less money. The old adage ‘one man’s junk is another man’s treasure’ rings true.

Here are some activities and entities that are thriving in this economy.

Thrift shops

The local second-hand thrift shop has come into vogue again. Offering a lot of clothes, used household items and toys for kids are among the more popular items. If you watch closely you can find some good buys on electronic items like radios and CD players and the occasional computer. Also, furniture is an item that can surface from time to time. Major appliances are harder to find and are often snapped up quickly.

Garage and yard sales

This is where some real bargains can be found. The really good items sell out quickly so you have to know when the sales begin and put on your running shoes in order to capture the best things. But of the things that remain, you will find good used clothing and some household items as well.

Classified ads

Although not as popular, classified ads are a good source because they feature just one item for sale. Many times these are the bigger ticket items like appliances and vehicles.

Given the current economic conditions, demand is high for these things and supply can be short, so the down side is that you might find higher prices and less willingness to go down on prices. But it never hurts to ask.

Watch what you buy

Many times, things that are sold in this manner are not necessarily in good working condition. If you are handy you can sometimes fix little things that are bad and put them into acceptable working condition. Some things like car seats for children you cannot buy used because you do not know if they have been in an accident or have been compromised from a safety standpoint.

Sell some things yourself. Community or neighborhood garage sales are popular. Get your neighbors together and set a date. Then, take the opportunity to not only sell things you need to get rid of, but also do some cooking and/or baking to supplement the income. You will be surprised at how easy it is to raise several hundred dollars in just a few short days.

Be aware of what is happening in your community because sometimes there are large sales at local parks or armory locations as well.

Using these and other tips, you can save money on many things that you need for living.

Coming up with more ways to save money on everyday living expenses helps give you an edge and keeps you from overspending. Here are a few more tips that can help you do just that

Promo codes

How many times have you been shopping online and notice a box when you check out that is labeled “promo code?” Do you feel left out? Would you like to take advantage of it? Now there are websites that research these and supply you with the promotional codes. The savings can be significant:   up to 50% off or free shipping, etc.

You can find these at www.retailmenot.com and www.couponchief.com. These provide codes for major retailers including around 20,000 stores and online retailers. You can also find codes at www.currentcodes.com as well as www.freeshipping.org.

Finally, other sites that are worth a look include: www.couponcabin.com, www.savings.com, www.couponwinner.com, www.promotionalcodes.com, www.webcouponcodes.com and www.shoppersresource.com.

The only issue you should be aware of is that most of these sites require you to register and that means more email into your inbox which provide more coupons and deals. While this is a great concept, it can become overwhelming. So, try to stick with one or two sites at first. Then if you find that you do not like or use a site, be sure to close your account and unsubscribe from their email system.

Automobile repair

It has been well documented that repairs on vehicles are high because more people are keeping their cars in order to save money. While the miles are racking up so do the potential repair bills. How can you protect yourself from becoming a victim of the auto repair industry scam artists?

There is a website to help with this problem: www.repairpal.com. This site is based on the premise that information is a good thing when it comes to comparing quotes for repairs. In this manner, they offer free, down-to-earth quotes which are based upon repair prices at thousands of shops across the country along with analysis of invoices.

But it goes beyond that service by offering a listing of local mechanics for quotes on repairs and maintenance in your local area. The information is also tailored to the make and model of your vehicle. When you register for a free account you can store all of your vehicle repair records while signing up for email alerts on service reminders, safety issues and recalls.

Customer loyalty cards

Many merchants offer customer loyalty cards which provide you with discounts in exchange for shopping at their stores. This is not a new concept but is apparently picking up momentum as the economy struggles along and consumers look for the best buys in an effort to curb their spending.

In exchange for the use of the card, you will find discounts at local grocery stores, future discounts or coupons in the mail based upon your shopping habits, or even rewards for repeat shopping by offering “buy 10 and get the next one free” promotions.

The amount of money you can save will vary, but when you use these cards, you can make a nice dent in your regular spending.

Why is it that those who have enough money seem to never run out?  Is it because they have so much that they can never come to the end of their money before they die?  It might appear that way, but in reality, that group of people is very small.  Those who are considered well-to-do in our culture include another segment of people that are worth investigating for how they handle their money.

These tips can be just the thing you need in helping to manage your money.

House and property ownership. They own their house and most likely some investment properties as well.  They are no different from other people in that their house is one of their biggest investments.  It holds a lot of importance in their financial portfolio.

Take away: A house purchase can mean as much to you as well.  Finding a home in which you can raise a family and remain for many years gives you a nice nest-egg from which you can benefit later on if you find that you need to sell and it is completely paid off.

Pay cash for vehicles. People who have money do not finance their vehicles.  To them they are a utilitarian instrument that must be paid for in cash.

Take away: Instead of financing every vehicle that you own, save money with which to make a cash purchase.  Also, buy a good used car instead of a new one.  Buying used vehicles can be a wise choice in keeping your debt low and your money available for other more important purchases in life.

Rarely borrow money. The largest loans you will find with the well-off would be on their homes and properties.

Take away: Stay out of debt.  Do not get caught up in high interest credit card or other consumer debt.  Learn to pay cash for the things you need and stop depending on credit cards to get you through your month.

Are business owners. Many of these people are business owners in the community.  They are hard-working and live to make a profit at what they do.  This goes for those in professional business or in a franchise as well.

Take away: Owning a business does not have to be an expensive proposition.  Looking for ways to bring in extra income at home can help you stay out of debt and at the same time fund some very expensive items like college education, etc.

Are very charitable. These people help out in charitable ways in the community that keeps this part of the economy working well.  They are very giving minded.

Take away: Giving to charities is a great thing to do, but equally important is to give away some of your time to worthy causes.

Just because others have more money than do you, does not mean that you cannot live a fulfilled, content lifestyle.  Using tips like the ones above will help you make sure your finances take their proper place in your life:  subservient to your needs and uses.  Do not let money rule you, instead make it your slave and put it to work for you.

What is the largest asset that you own and on which you make the largest payments?  It is your home, of course.  That is primarily the reason for the insurance on your property.  If you are like other citizens, you could not possibly recover from a devastating event like a fire or flood.  So, insurance is there for you to use just in case.

At the core the concept of insurance is risk taking. In a community of thousands of homes, pooled insurance premiums help offset the loss of one or two homes from a given calamity.  And the same is true nation-wide.  It is during times like horrible hurricanes and other major devastating weather events that we hear of insurance companies taking large losses and possible going out of business.  But, that is their business, and on the whole, it works out very well for them from a profitability standpoint.

Property and casualty are actually two separate things, but they are mainly combined to give the best coverage from catastrophic loss.  Generally, you will see these types of occurrences covered: fire, wind storms or hail, lightning, volcanic eruptions, explosions, air plane or automobile crashes into your structure, and even damages from riots and civil unrest.

The common homeowners policy covers things like theft, lawsuits, and even living expenses for having to live outside of your home during a disaster.  Also, there are other items that can be covered as well, such as outbuildings on your property, personal property contained in the home, and even trees and shrubs.

You might even be interested in the following add-ons or ‘riders’ as they are called:

Flood insurance. You will have to have flood insurance if your house is in a flood zone as stipulated by the Federal Emergency Management Agency (FEMA).  Flood insurance will cover the loss of your house structure, but may only provide for a prorated amount on the contents that are damaged as a result of flood waters entering your home.

Earthquake insurance. Most insurance companies provide coverage for earthquakes, but keep in mind that deductibles in earthquake-prone locations are very high and can range from 10% to 15% of the value of your house.
Additional insurance for valuables.  If you have valuables in your house, they are not generally covered under the contents portion of your homeowners policy.  You will have to obtain add-ons for things like jewelry, antiques, works of art and rare collectibles as well as classic automobiles.

Insurance is there to cover you so that you do not have to take a financial loss because of an incident that can leave you in worse shape than before.  Protecting what you own is smart and while the insurance may not be able to bring back everything exactly as it was before, you can recover so that you can move ahead with your life.

A Compact Florescent Light (CFL) bulb is now the lighting source of choice for households and for good reason.  In the philosophy of saving energy they line up nicely with current sentiments about green living and benefits for the planet.
Some might not be aware of what these bulbs are and how they can be so energy efficient, so the facts are given here for further illumination.

What are CFL bulbs? The CFL bulb is an illuminating device based on florescent principles that is used in many applications to generate light for indoor uses.  Incandescent bulbs have been the standard for many years, but now CFL bulbs are taking their place.  A CFL bulb uses the same components to generate light as do their long counterparts which do the same.

How are they made? There are two main components of a florescent light.  First is the gas-filled tube and the ballast.  The ballast is either electromagnetic or electrical and its function is to charge the gasses in the tube to create the light source.  The electrical ballasts are the newer of the two and are more reliable and almost completely eradicate the slow starting of the light bulbs.

How do they work? When the ballast is charged with electricity, then it energizes the gasses in the bulb which emits an ultraviolet light.  That light then excites a phosphor on the inside of the bulb wall which in turn, emits visible light.

What are the advantages? The main advantage of CFL bulbs is that they are much more efficient than standard incandescent bulbs.  This means that with less energy, they produce more light.  And not only do they do that well, but they have a longer life span.  This means less electricity is consumed in their use which also decreases the amount of electricity needed to power our electrical grid.  That has the net effect of allowing us to burn less coal.

The CFL bulbs use between one-fifth and one-third of the power equivalent to incandescent bulbs.  How much can you save on your electricity bill?  It depends on the rates that you are paying, but you can generally expect about a 12% decrease in your utility bill if you completely outfit your house with these bulbs.

What are the disadvantages? The CFL bulb has disadvantages that are easy to overcome.  First is that they use a small amount of mercury in order to operate.  Mercury is a known toxin which is harmful to animal life on earth.  This fact makes it clear that you should always dispose of these bulbs in an environmentally acceptable manner when they are completely spent.  Next, they are much more expensive than incandescent bulbs.  But this is overcome by their longer life spans.  As more and more are produced, the prices will drop accordingly as well.  Finally, they are not known for their dimming properties, although dimmable models are available.

Saving money means having plans in place in and around your home that includes CFL bulbs.  Even if you care nothing about environmental issues, making these a part of your life will save money over their life span.  And that alone makes them worth the money.

Finding yourself behind on your car loan does not mean necessarily that you will lose your car to repossession.  As long as you are not severely behind (like months) you still have some options that can help you out in a jam.

Evaluate the car. If you can get by without the vehicle, then attempt to sell it.  If you can get out of it what you owe, then you are free and clear.  Be sure to communicate with your financing company what you are attempting to do with the vehicle so that they will be aware that you are trying to bring the issue to a resolution.

Lease options. If you are in a lease, then you will need to add up all of the costs that are associated with breaking the lease agreement.  Call the leasing agent and find out if they are willing to re-negotiate with you.  The value of the vehicle and the attitude towards keeping you in the lease will play a part in whether you are successful or not.  Part of that will be determined on what kind of customer you have been in making your lease payments.

Loan options. The good news with a loan is that the financing company stands to lose money if they have to repo the vehicle.  They would rather negotiate and get something rather than take the loss.  Even if you owe more than it is worth, you should still find a willing lender.  You might be able to re-finance the car at a better rate with a different lender.  The caution here is to try to avoid a long term – make it as short a term as possible.  Be sure to check out the local credit unions in your area.  They often have the best rates and are more willing to work with customers because of their focus as a lending institution.

Extensions.  If you are just a month or so behind, you might find the lender willing to grant you an extension on your loan.  What this will do is to extend the terms of your loan by a month or two and get you current.  Keep in mind, however, that these programs are limited and you can only apply for them only about once per year.
Hopefully you can find a way to keep your vehicle and maintain your credit at the same time.  This is a win-win for all concerned and will help you get through a tough time.

Soon it will be vacation time across America. And while current economic conditions are forcing many to scale back on vacation plans, there are some ways that you can use your credit cards to help you save on vacation activities.

This assumes that you have less than 50% available on your balances. This is a must in order to be able to prevent from going over your limit and incurring charges because of it.

Obtain a cash rewards credit card. This is essential because with one of these cards you can earn cash-back on regular purchases. If you are a regular traveler for business, then a travel related rewards card would be most appropriate. The idea here is to get the maximum amount of cash back from your use of your card during the time you will be gone. Getting this money back is like having your vacation pay you money back on the things that you purchase.

Do some homework. Before you leave on your trip, investigate the location to which you will be going and find restaurants and other places that you will be patronizing. Look each place up on the Internet in order to find coupons and discounts that are offered which will help you lower your costs for the vacation. If you do not find any, pick up the phone and call those locations and ask about discounts and coupons. Keep in mind that some of these locations may only place things like this in the local newspapers. Find out if they do and where you can obtain them since you live outside of that area. Make sure that they know that you are coming to the area to spend money with them and are looking for ways to keep your costs in check.

Ask for better prices. This one you have to be careful with because you do not want to make sales clerks and merchants angry. However, saving money means being wise when it comes to the prices you pay. Many people leave their ‘money sense’ at home when they go on vacation and pay too much for items that they would immediately reject at home. You need to take your common sense with you, and if you have to, refuse to make some purchases if the costs are too high. Instead, find less expensive items that will help give you that sentimental feeling about your vacation, but not leave you broke at the end.

Take some things with you. Avoid making purchases when on the road for things that you can easily get before you leave. Like snack items and drinks. Truck stops and convenience stores make the majority of their profit on these items, not the fuel that you buy. Make a list before you leave and take what you can fit in your vehicle. Or, if you are travelling by air or other mass transportation system, do not make these purchases in large quantities where you will pay a premium. Wait until you arrive at your destination and then find a more economical solution.

Cut out non-essential things. If an activity is too expensive, then make the decision not to make it a part of your plans. This can be difficult if the vacation is a once-in-a-lifetime type that you never intend to take again. Look for something else to do that will still be memorable, but not carry the high cost.

These tips along with paying for things on your cash-back rewards card can help you have a less expensive vacation while maintaining a fun and entertaining time for everyone. The reason for going to begin with is to get away and be with your family. If you go with that mindset, you will have a good time while spending less money.

Even though the housing industry is still in a slump that does not mean that you cannot get a very good interest rate and deal on a house in 2009.  The most obvious thing to do is to shop around for the best rate that you can find.  While that is true, there are some other things you can do to help in the process.

Check your credit score.  You can check your credit score and report once per year for free.  If you are in the market for a house, then now is the time to exercise that right.  The higher your score, the lower your interest rate will be so it is worth looking at in advance of the process.

The Federal Trade Commission has a web site where you can find out how to get your free report.  Go to: www.ftc.gov/freereports.  You will also find detailed instructions on what to do if you find errors or other misinformation contained in your report.

Clean up your credit report.  Once you have checked your credit score, look at the accompanying credit report.  If you see incorrect items on it, you need to clean these up so that they do not negatively affect your ability to get a great rate.  While this can be a time-consuming and protracted task, it is well worth performing.  In fact, you will want to delay moving ahead in the process until this is completed.  It is that important.

Make positive changes to your financial picture.  There is nothing like a clean financial picture that makes financial institutions easy to work with in obtaining a mortgage.  Take the time to pay off small, high interest consumer loans like credit cards, etc.  The best thing here to remember is that a strong financial picture and getting on top fo your personal budget shows low overall debt and a high amount of cash and assets on hand.

Consult a Realtor.  One of the many benefits of working with a real estate agency or broker is that they can direct you to the best sources of financing.  It stands to reason that since they deal with those who need financing on a daily basis, the probably have some knowledge of where to you go to obtain a great rate and service.

Compare and Be Aware.  Approach the financing portion of buying a house as you would an interview only you will be doing the interview.  Find out from two or three sources what the going interest rates are and what the details are regarding the loan and any origination and other charges that you will be required to pay at closing.  You might find some very attractive options. Use tools such as an amortization calculator, an interest only mortgage calculator and other mortgage calculators to help you with the math.

If you use these steps you can find a great interest rate on a new house mortgage in 2009.