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

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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.

60 Ways to Make Money work For You

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.

 

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