Money, money, money!

Money is a pretty tricky entity..... It sucks if you don't have it and, believe it or not, it often sucks when you do.  If you are fortunate to make good money, have had money given to you or maybe even won money ( a Superbowl pool, etc.) and you are inadequately schooled on how to manage it, you're in trouble. My daughter always says, "Everything's about money with you!" True......and false!
Fortunately, I had a good teacher when it came to finance.  Most folks think I was a spoiled little brat who had everything handed to her, never had to have a job and fell into everything I have.   True....and false!  I was a tad spoiled (I was the baby.)  I worked during and after high school and my short spell in college.  I enjoyed the jobs I had.  I worked at a small airport in Skaneateles, Empire Aero Services and later managed the office at the Sherwood Inn.  Both jobs were people oriented and I enjoyed people.  You most certainly do better in jobs you enjoy.  I later married and was fortunate to be able to travel with Lee while trucking and later to stay home with our kids.  Times were tight for us too. We ate a lot of macaroni and hot dogs and learned at an early adult age to budget, pay our bills on time and not to have eyes bigger than our pocketbooks.  An opportunity to buy a family home arose and we were given a sweet deal...there we paid our mortgage and raised our family. My Dad would give me lessons... most of which I never requested...in matters of finance.

1. Pay your bills on time.... If you don't have it all, pay what you have!
2. Accept the fact that you will always be insurance poor.
3. Always remember that people can sue you for the littlest things (like tripping on your sidewalk or falling down your steps) and they can take not only what you have now....but what you may ever earn..........
4. Credit is essential but the general rule of thumb is, if you can't pay for it, you don't need it!
5. Remember that it will cost you triple to live in your old age as it does now. Saving is mandatory.
6. Find a good broker, a good insurance man/woman and a good attorney. *
7. Write a will and remember to modify it as circumstances present themselves.

I now walk in those plaid pants, (figuratively of course) and utter the same words........a lot!  Things are quite a bit different than they were 40 years ago but the premise is mostly the same. Investments are trickier, retirement funds are iffy and banks may be the place to store your money but don't plan on making any there.  The morning paper had a story about financial lies.  The path to a good financial future is owning up to these 5 lies:

1. I'll pay back the money I've taken from my savings."   It won't happen!  If you can't afford it now, you won't have the $ to pay it back later...or...ever!
2. "I have time to save for retirement."  You have NO time to waste.  Your Social security is tenuous to say the least. You can scream all you want that it is your $ and you're entitled to get it back............Government sucks and you'll be really lucky to see it in full or in part! 10% of your annual salary is good to put away but anything you can contribute is a huge start...... 
3. "I don't need to worry about my credit score."  Yes you do.  You'll want a new(er) car or truck, you'll want a house, you'll need a new refrigerator and everyone will have checked your score but you! A couple times a year is good, it's free and if you find errors, you'll see a boost in your borrowing power....
4. "The bank is the best place to keep my money." Keeping a small emergency fund in a bank savings account is ok.  You will not get rich..  I have a money market account that made me $5.57 last month.  Pretty sure I could have done better somewhere else.... Even old dogs can learn new tricks.
5. "I won't be able to pay off my debt."  Paying down your debt is extremely important.  I looked at a credit card yesterday that charged me $67+ interest.  I hadn't purchased anything since before the holidays. I paid it down....way down.  Always pay more than the minimum....always! It's sometimes not possible to double your minimum but that's a good rule of thumb for starting to pare it down.  Maybe it's a few less nights out or you'll start thinking about lumping all your weekly errands into one trip.  You CAN do it! Sometimes consolidating credit cards to a 0% introductory offer can pay off.... Do your homework, watch out for transfer fees and make your money work for YOU!!!!

You know your situation, don't be afraid to consult with your top *3 advisors and budget... Even in today's tumultuous financial world...you can be successful if you pay attention and pay your bills on time!