15 Good Financial Habits

15 good financial habits

In order to effectively save for your kids college education, you need to start practicing good financial habits.  The April 2012 edition of M Magazine lists 15 of them.

1. Did the recession reveal any holes in your financial plan?
2. Be clear on your family’s long term financial goals.
3. Set doable goals.
4. Do everything possible to control healthcare costs.
5. Cut monthly expenses.
6. Don’t let TV, facebook, texting suck up all your money and time.
7. Don’t overindulge your kids.
8. Don’t buy brand name items.
9. Eat healthy at home without spending a fortune.
10. Skip the vacation this year.
11. Only used tried and true investment vehicles (401k, IRAs, mutual funds).
12. Lower your automobile expenses.
13. Save money on energy costs.
14. If you have to charge it, you don’t need it.
15. Focus on the best things in life – that are free.

Read more by Eric Tyson here.