Sunday, August 3, 2008

102 Personal Finance Tips Your Professor Never Taught You (Part 9)

Registration

86. Register now. It does not matter if you're six or 60. You need to save a little every month, apart from saving for retirement. The sooner you start, the better.
87. Repay Debts high interest before starting to save. Earning 5% in your savings account will not do much if you reached 17% interest on your debt credit card.
88. Save at least 10% of your annual salary of retirement. This should help provide a good retirement fund when you need it.
89. Keep at least three months' worth of living expenses in a savings account or high-yield money market.
90. Open a savings account online. Savings accounts online, as emigration direct or HSBC Direct, offer yields of more than 5%.
91. Establish an automatic savings plan. You should be able to configure your account to verify that a certain amount is automatically transferred to a savings account each month. It is a good way to force you to save.