First, if you have mortgage pay it Bi-Weekly. Almost all mortgage companies offer a bi-weekly solution. What this means is you pay HALF the mortage every 2 weeks as opposed to the full amount every month. The result is 1 extra payment a year and a lot less accured interest. How much? At a 6% loan rate it will save you approximately 50,000 dollars per 200,000 in loans. So a 200k house will cost you 50k less in interest at the PRICE of only 1 extra payment per year! Plus it means you pay off your house 6 years early!
Pay Your Mortgage Weekly
Similar to Joe’s suggestion above about bi-weekly payments. It would still add the equivalent of one mortgage payment a year, but since your reducing your principle on a weekly basis (instead of bi-weekly), it knocks down that compound interest even faster.
Pay Yourself First
This is simply just the principle of saving. If you put some of your money away, right of the top (such as, automatic deductions from your paycheck, into 401K, IRA or even a savings account), then your less likely to miss that little bit extra each month, and you’ll be starting a nest egg for retirement or a rainy day.
Stay Away From Unnecessary Debit / Live Within Your Means
Simple principle, but some many people out there feel they ought to have a higher standard of living than what they can afford. They max out credit card after credit card, until they are in a hole so deep that they can’t get out.
Don’t Put 401K Money Into Your Company’s Stock
This is simply the principle of diversification. If your company (that your work for) goes under, not only could you loose your job, but also your retirement money as well.
Use a Real VISA and Not a “Fake” VISAThis appeared to be incorrect: use VISA instead of Mastercard or others is the new hint (check comments of this entry)
Debit Cards that can be used like a VISA, are inherently more insecure as the funds come from your checking account. These “fake” VISAs don’t offer the same protection if your credit card number is stolen. With a regular VISA, you have some ability to remove fraudulent charges made to your card, but with a “fake” VISA, you’re just “out of luck”.
etc. etc. Read the thread. Good hints.