Money Management Tips

•Don't ever worry about "keeping up with the Jones's"
• Don't cash in or borrow against your retirement
• When buying a house, be prepared to pay 20% down or don't buy at all; lock into a fixed rate; don't escrow your taxes and insurance
• Don't rent to own
• Don't ever go to "loansharks"
• Don't buy a brand new car; pay cash for a car, if at all possible
• Stop smoking, if you can; if you can't, shop smartly
• Stay married, if at all possible
• Discuss finances openly with your spouse; don't keep separate budgets and accounts
• Use only one credit card; avoid department store credit cards
• Learn to differentiate between "needs" and "wants"

• Don't over withhold on your paycheck for a big tax refund; try to break even come tax time
• Don't overinsure yourself or your belongings
• Don't co-sign for a friend or family member, unless you're prepared to assume the full debt and/or their bad credit
• Don't loan money or enter into "investments" with friends or family members unless you are prepared to lose it all
• Don't expect an inheritance to one day fix your problems
• Don't fall for get rich quick or pyramid schemes
• Don't think you "owe" your kids anything; teach them to be financially independent and responsible
• Replace your credit card with a debit card
• Make a budget and stick with it