Tip #1: Debt reduction plan set it up and use it immediately. Most people don't know how to set up a debt reduction plan but it's simple. The average consumer credit card charges 18% interest so you will me making an extra 18% on your money just by paying off your debt. There is not another investment out that can guarantee that kind of return. Paying of your debt is crucial.
Tip #2: Learn to invest your money starting with small amounts. A great website to learn the basics of investing is http://www.investopedia.com. A great place to start investing small amounts of money is http://www.sharebuilder.com. If you have saved up at least $500 then I would recommend starting at http://www.scottrade.com. If you don't know where to start investing and you are impatient then I would recommend the Vanguard S&P 500 Index Fund. Just do a search for it on google and you can find out how to get started. Don't invest a dime in to anything until you have paid off your debt.
Tip #3: Save 3 to 6 months worth of income in an interest bearing account like Paypal's money market account. This will serve two purposes first, if there is an emergency you will be better prepared and while that money is waiting to be used it is earning you interest. Second, by having a good emergency fund you can increase insurance deductibles which is our next tip.
Tip #4: When your savings is substantial enough immediately increase your deductibles to levels that you could easily cover with what you have in savings. You have to under stand that insurance is a game of odds with the odds always in the houses favor (insurance company). Increasing your deductibles lowers your premiums and keeps you from filing smaller claims that could end up increasing your premiums later.
I have shared with you 4 easy money making tips. The easiest way to make money is to have your money working for you so that you do not have to. The first step is get to the point where your money can work for you hence, get out of debt. Next, develop the education to learn how to put your money to work, don't be intimidated the basics are simple to learn. Also be sure to build an emergency fund this will not only be able to earn interest for you but also be able to save you money by allowing you to increase your insurance deductibles.
Jackie O'Quinn, is an entrepreneur who is passionate about teaching people to make more money, save more money, and to get out of debt. Do you want to learn more about making money and manage the money you have? Visit Jackie's blog at http://www.jackieoquinn.blogspot.com and sign up for free weekly easy money tips delivered to your email. Just enter your name and email to the pop up on his blog.Article Source: http://EzineArticles.com/?expert=Jackie_O'Quinn