60 Ways to Make Money Work For You
1. Don’t use credit cards or stop using them.
2. If you were using them, make the focus paying off the debt.
3. Master using coupons
4. Don’t write cheques that won’t cash
5. Have six months of expenses in an emergency fund
6. Nickname savings accounts for specific goals
7. Learn from financial mistakes.
8. Bring your own lunches to work
9. Learn to Meal Prep
10. Use a charge card you pay off every month and earn rewards points
11. Invest in a mutual fund with a Roth IRA
12. Invest enough in a 401-k to avail of company’s matching contribution
13. Invest in index funds
14. Invest in no load mutual funds with low fees
15. Spread investments around with diversification
16. Use dollar cost averaging
17. Don’t invest in crazy, exotic investments
18. Hire an accountant for your taxes
19. Stick to a monthly budget
20. Analyse your spending at the end of the month to see where you can save
21. Set financial goals including saving targets on a weekly/monthly basis
22. Double check your W-2 Tax Statements to see if changes need to be made
23. Invest income tax refunds
24. Spend less money than you earn every month
25. Make all your monthly bills automatic to pay from a specific account you deposit into every paycheque
26. Check and understand your credit report every year
27. Safeguard your personal information to protect against identity theft
28. Understand how your FICO credit score is calculated and protect it
29. Pay yourself first with investments
30. Keep track of your net worth
31. Save for major purchases rather than buying on credit
32. Start saving in January for Christmas in a separate fund. A little each week will amount to a lot
33. Earn a greater rate of return on savings with Peer-to-Peer Lending companies.
34. Invest in Dividend Reinvestment Plans (DRIPS)
35. Make mortgages as short as you can afford, you save a tonne on interest.
36. Negotiate existing mortgage interest rates
37. Buy a car with a 48 month note
38. Don’t buy an automobile extended warranty
39. Lessen the amount you are eating out at restaurants
40. Shop at the grocery store with a list and eat before hand.
41. Have adequate life insurance
42. Buy additional term life insurance
43. Avoid whole life insurance
44. Ask yourself is this necessary before every purchase
45. Keep your resume up to date
46. Master networking
47. Pick a career you enjoy as soon as you can
48. Learn as much as you can about your career and become an expert, branding yourself as such on networking sites such as LinkedIn
49. Work as hard as you can
50. Don’t borrow money from a payday lender
51. Bundle up your internet, phone, and cable
52. Do not use ATMs that belong to a bank you’re not a part of
53. Buy generic medication
54. Experience what it’s like to live on next to nothing for a week.
55. Always continue learning and earning education, credentials, certifications, etc.
56. Try not to take out a 401-k loan
57. Teach personal finance skills to your children from an early age
58. Open a 529 college savings plan for your children when they are born
59. Earn points for everyday purchases you make through websites like Upromise
60. Never stop reading. Bill Gates averages 50 books a year.