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Wednesday, December 03, 2008



Living paycheck to paycheck isn't any fun. So it's time to learn how to manage your money better. Little tips on consolidating debt, creating a budget, and using credit cards can make a big difference at the end of the month. You don't have to be an accountant to know how to manage money, you just need to know simple tips to make a plan and do it. So here is the six step plan for managing your money. It will help you get out of debt, control your spending and start saving for the future. Make it a part of your life and you'll see the results in days, not decades.
  • Make a monthly budget and stick to it
  • Payoff your credit cards
  • Build a rainy-day fund
  • Take advantage of your retirement accounts
  • Own your home
  • Track your progress
Remember, good money management is more than a mathematical formula because it's tied so closely with life's ups and downs. Your money plan is likely to change if your life situation changes. The object of a good budget is to make your money help you reach your goals, not to force you to conform to rigid rules. don't be discouraged if your first budget plan doesn't work out right away. You may have to revise it several times until it fits your situation. You will also need to review it periodically, to be sure it continues to help you use your income in the best way.



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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed5.88%
30-yr. fixed jumbo7.62%
15-yr. fixed5.50%
15-yr. fixed jumbo7.50%
7/1 ARM6.25%
5/1 ARM5.88%
3/1 ARM5.88%
1-yr. ARM6.75%
1-yr. LIBOR ARM6.12%
10/1 ARM7.88%
40-yr. fixed7.00%
*Mortgage Rates Updated: 12/01/2008