Regardless of where we are in life we can all learn
something about money and how to better prepare for our
future. Especially when we see that the national average
is $10,000 in credit card debt and that savings and
preparedness is dropping. This article can put you back on
track to a more fulfilling and financially free life.

1) Automate your investing. Experience has proven that if

we have to make a conscious effort every time we need to
invest we will start with good intentions and then
miserably fail a few months later. If you can automate
your savings, whether by using your employers 401k, a sep
(self employment plan), or direct deductions from your
account you will finish ahead. The rule here is if you
don't see it, you won't realize it and you won't miss it.
Some of these deductions will reduce your taxable income
and save you further on taxes (see your CPA and tax advisor
for more info on this). A good rule of thumb is to set
aside 10% of your income.

2) Real estate. If you haven't already, buy a house.
Renting will only make your landlord (hint - house owner)
rich. Regardless of what the immediate market does real
estate is one of the best long term investments you can
make. It also has many advantages including deductions for
mortgage interest. Real estate will always go up. People
will always need a roof over their head. Just watch HGTV,
real estate has made many millionaires and is a key factor
in almost every tape and book series on gaining wealth.
Stick with the standard 30 year fixed mortgage.

3) Medical and life insurance. You need to have them, if
you think you don't just ask anyone that didn't have it
when something unexpected happened. If you love your
family, they are a must. But, on that note, don't get
taken. Buy term life. 20 years will give good term
coverage and if you follow all of these tips you won't need
anything beyond that. Whole life only makes your agent
rich and really never builds any value for the huge costs
involved. Term life can be purchased cheap over the
internet at great savings. For medical insurance, in most
states Blue Cross and Blue Shield offer great plans that
are a fraction of Cobra or employer plans. If you have an
adequate employer plan, by all means use it. Stick with
big names like Blue Cross as they will be around for years.

4) Don't ever buy new cars. It is a fact that new cars
lose 25-30% of their value the moment you drive it off the
lot. Let someone else pay for that depreciation and get a
two or three year old car or truck. With the latest
technological advances cars can easily go 150,000 miles and
above. A two or three year old vehicle with 30,000 miles
on it will save you not only in initial cost, but also on
your insurance, and taxes. Also do your homework before
buying your car. Get your credit score and see what loans
you qualify for. This can easily be done right off the
internet and will save you big at your local dealer (never
take a dealers word for your credit and rate - they will
hold 1-3 points on rate and that can mean thousands in
extra interest over the term of the loan).

5) Get out of debt. I put the investment tips above this
as you need to pay yourself first. If you are overwhelmed
with debt, their are numerous non-for-profit agencies that
will renegotiate your debt and terms on your behalf. Work
out a plan to get the high interest debt paid off. Be
wiser with your purchases - do you really need that 60 inch
flat screen tv? a BMW you cannot afford? etc... Cut up all
cards but 1 (for emergencies you should have 1 credit card)
and no store cards. The whole purpose behiind store cards
is to entice you to buy more and pay more. My grandfather
said it best - "if you can't afford it, don't buy it." The
only good loan to have is a mortgage.

6) Never burn bridges. If you happen to leave your current
employ, leave on good terms. Find a replacement if time
permits. This will put you in a good light with your
former management and can result in a good reference,
another job, a callback for more money, etc... Never leave
on bad terms. Its just not good Kharma. Also, it won't
hurt to take former business associates and customers to
lunch regularly. This will keep you in tune to the
industry, give you many additional contacts afford you
future favors - just think of the lobbyists on Capital
Hill, you don't think they spend all that money on their
politicians for nothing do you? Don't be afraid to ask for
a favor every once in a while. Kharma is the big rule here
-when you help others you will inadvertently help yourself.

7) Give back. Once you've made it it is only fair that you
help others less fortunate than yourself. Regardless of
your beliefs when you donate time and money to help others
you will inadvertently help yourself. You will feel great.
Also, the cardinal rule of kharma is that when you give
you will get many more times what you give back. Take the
time to help by volunteering your time. Even if it is 1
hour a week, you will help improve someone else's life.
Volunteer, it will make you a better person.


About the Author:

David Maillie is a chemist with over 12 years experience in
biochemical research and clynical analysis. For more great
products and ideas please visit http://www.mdwholesale.com
and http://www.bestskinpeel.com