Money, Money, Money (Part 1)

It's a rich man's world, as ABBA would say. Some people are born with the savings gene, while others must learn. I'm a learn-to-save girl. Just recently I've managed to pay off all my debt at 30 years old -- no more car payment, credit cards, or student loans. Hallelujah! I must give credit where credit is due: I married someone with the savings gene and I've learned from him. I wouldn't have been able to pay off my debt without his guidance and support. Here are some ideas to help you get out of debt and put some money in the bank.

1. Pay with cash.
If you don't have the money, don't buy it. No excuses. It's too easy to swipe the credit card, but it's much harder to buy that $30 shirt if you only have $100 left in your wallet that needs to pay for food, gas, and necessities for the rest of the month ... and it's only the 10th. Also, when you pay with cash, you end up with a lot of change. Start a piggy bank with all those coins.

2. Track EVERY penny you spend. Create an Excel spreadsheet and keep your receipts. Write everything down. If you don't know where your money is going you can't control it.

3. Save first. Before you pay bills set some money aside, even if it's only $10 per week. You need to have emergency funds. New clothes or concert tickets is not an emergency. We're talking doctor visit or car accident.

4. Buy generic. If you're on a budget, don't spend like you're not. Get the cheap soap, the off-brand mac and cheese, and the inexpensive hair cut.

5. Cut some corners. Where can you save? Car or home/renters insurance? Do the research and get some quotes. Cell phone bill? You better not have Verizon. Pre-paid plans might be what you need. Rent? Do you have roommates or could you find a cheaper place? Cancel your TV and get the cheapest internet.

Stay tuned for more tips!