When it comes to your money, you have two basic approaches: defensive or offensive. A defensive financial plan looks for ways to save money and cut spending. It focuses on turning out the lights, worrying about the price of milk, looking for places to save a few dollars, using coupons, slowly building wealth, etc.
Check out the articles listed below for some more information about defensive financial planning through saving and frugality.
Don’t focus exclusively on saving money; make sure to learn new methods of making money, or your financial situation will never change. Not only is it more time-effective, it also leads to a better lifestyle.
Note: Billionaires aren’t made because they drank water at lunch. Saving money is just the short game, as you can read about in the article above regarding frugality being the first step. You can learn even more by reading the articles in our How to Make Money series.
After you read about making and saving money, don’t forget to check out How to Invest in Stocks — one of the most important topics you can understand. This is especially true while the economy is down — stocks are dirt cheap.
Of course, if you have any debt at all, then your first concern should be to read our free tutorial that explains how to get out of debt. Saving money is pointless if you’re losing your savings to debt interest.