Top 10 Money Tips for Almost Everyone

1. Invest early
Time is the greatest money earner. If you start by saving $200 per month for the next 50 years, you will have a more considerable sum than saving $1000 per month for the last 10 years. This is due to the help you are getting from compounding the interest that you will get from consistently having your money work for you for a long time. The Golden Rule is to start saving and investing yesterday!

2. Pay yourself first
Always put investing and saving ahead of purchases. We live in a consumerist world. Spending and enjoying our purchases is our lifestyle. What better way to skip out of the loop than hiding a portion of your paycheck away when you get you monthly paycheck. Setup an automatic separate account (Time Deposit or Money Market) to hide your money away on the day you get your paycheck. What you do not see, you do not want to use.

3. Do not take on high interest debt
Debt can kill you. Once you take on high interest debt, you are essentially taking on a job at the bank. Spend less and get away from high interest debt. Skip installment plans also. Most of them have hidden fees that pounce on you once you miss a payment.

4. Buy only correct insurance
Not all insurance is important. Generally health, disability and term are recommended. Avoid Life, Extended warranties and Investment Linked Policies.

5. Budget!
Keep track of your expenses. At the end of the month, do a tally and see where your money is going. It is likely to be different from what you had perceived before. Shave off the excesses and put the money into the investment account. For the next month, set a spending budget that you are comfortable with. This way, you are bringing down your spending cap and helping yourself survive on less.