Performance

You’re gonna love this. The market “outperforms over 85% of all mutual funds.” So, if you ask what type of mutual fund should I invest in, it’s definitely a stock index mutual fund.

We like the Vanguard S&P; 500 Index fund, which by the way, was the very first index fund. Since this fund started up years ago, several other stock index funds have popped up. Because of this, you need to be careful when choosing an index fund because you’ll find there are several fund companies that charge higher fees than is necessary.

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How To Invest – Mutual Funds

No Load Mutual Funds

Another great frugal investing vehicle are no load mutual funds. A mutual fund is basically a collection of stocks and/or bonds grouped together in a portfolio. The fund brings together a group of people and invests their money in stocks, bonds, and other securities. Each investor owns shares, which represent a portion of the holdings of the fund.

Mutual funds also carry a lower amount of risk than investing in individual stocks or bonds because each mutual fund invests in a portfolio of several hundred stocks, bonds or money markets; so you’re automatically diversified.

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Frugal Investing

Conservative Investing – The 10% Rule

You’ll find this to be an excellent frugal investing technique. When you get your next paycheck, don’t do what most people living paycheck to paycheck do; which is spend the money and pay their bills right off the bat leaving no money available for investing.

Instead, beginning with your next paycheck, take 10% of your net pay right off the top and invest it. You’ll want to do this with every paycheck you receive.

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Avoid Filing Small Insurance Claims

You’ll find that if you file a couple of small claims (under $1,000), your insurance company will increase your premiums or possibly cancel your policy. If you save your claims for the costly damages, you’ll keep more money in your wallet.

Knowing When To Drop Your Collision Coverage

You’ll certainly be saving money on auto insurance by dropping collision coverage. In fact, you’ll save bigggg bucks. The question of the day is when should you drop it?

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Automotive Liability Insurance

Property protection and bodily injury liability protection are coverages you must have. There are hoards of trial lawyers that practice nothing but automotive liability claims.

You don’t want to end up being sued and not having enough auto insurance liability coverage in place to pay for damages should the jury find against you. You could lose everything.

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Saving Money On Auto Insurance

When it comes to saving money on auto insurance, finding super cheap auto insurance is certainly doable.

With car insurance being one of your biggest monthly expenses, it makes it all the more important to keep these costs in check.

We’ve successfully used these techniques for many years to get affordable auto insurance; and have been very pleased with our results. We’re excited to pass this knowledge on to you because you shouldn’t have to overpay to insure your car.

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Other Saving Money Tips

It’s worth repeating because it’s a critical step towards saving money. Budget, budget, budget. Please see smart ways to save money.

Take advantage of free checking and savings accounts.

Avoid bank fees. Ask the bank if there are any fees associated with your savings account or CD. Some savings accounts have no minimum balance fees while other do. We generally stay away from accounts with fees unless it’s a very small minimum balance requirement.

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Tips On Saving Money – Savings Options

More than likely, you’ve got a savings account set up with your local bank or credit union that is linked to your checking account. This is a convenient way to save because the funds are there for you when needed.

Having the savings account is a necessary first step to save money for an emergency fund. It’s also important should you need quick access to your cash; but it’s not going to have your money working for you because the interest rate earned on these accounts is very low.

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Tips On Saving Money

Save Money Ideas :

Our tips on saving money will help you to increase your wealth and protect you from unpleasant events.

If you have a job loss, major car repair, medical emergency, or need to pay for a major repair on your home, knowing you have money saved to fall back on is a good position for you to be in.

When it comes to saving, money tips that work are what count at the end of the day.

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Family Money Management

Importance of Personal Finance

Family money management:

When it comes to effective family money management, you’ll find these strategies will certainly help you to make wise money saving decisions.

I cannot stress enough the importance of personal finance on your financial well being. It’s the foundation to help you get your finances under control before you can effectively build your wealth.

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