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Middle-aged couples often find themselves in a tricky dilemma – although they might be financially stable at the moment, they’ve got a couple of kids about to hit college, and they still have to keep an eye on their own retirement in 15 or 20 years’ time. A recent CNN case study gave a great example of a family facing this dilemma, and came out with a few useful tips that we can apply more generally.

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Insurance salespeople will assure you that a dozen different kinds of insurance are necessary to feel secure in life. But often these very insurance policies are what’s holding you back financially, insuring you for low-risk “what if” scenarios, and very often not even actually covering what you think they are. Try these tips to figure out exactly what insurances are important in your life:

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You’ve got to eat, right? But you don’t have to eat out. If you’re trying to save some money, try recording exactly how much money you spend on food for a week – including snacks, gum and drinks while you’re out. Chances are you’ll be shocked by how much this adds up to. To save a few dollars on food, try these eat-at-home tips:

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Continuing in their upward spiral, gas prices show no signs of relief, so it may be time to take a look at what kind of car you’re driving. Many Americans make the daily work commute along, and do so in cars built for off-road adventures or big family trips. If you fall into this category, you may want to consider trading your now-more-expensive-than-ever gas guzzler in for a more fuel-efficient model.

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In even more depressing news for the United States housing market, experts believe that it will become incresingly more difficult to get a traditional mortgage, even for those with a good credit record.

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Everybody has a credit card, and everybody knows the basics of how it works. But there are a few lesser known facts that could cause you problems. They’re not secrets, as such – they’re public knowledge, often found in the small print of your credit card contract – but they’re facts that you should be aware of to avoid getting into trouble with your credit card.

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If you’re steadily paying off your mortgage, you often don’t think about changing anything about the loan you have – you just keep paying, month after month, looking forward to the day in twenty years when the house will be yours. But there are some situations when it can be really advantageous to refinance your mortgage.

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Recent tips at CNN Money about the surprise fees on your credit card had a few reminders of other ways your credit card debt can mount up. Luckily, they also provide a few tips on how we can either avoid or minimize some of these costs.

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When you’re planning your retirement – and some of us dream about finishing work from practically the first day we start – it can be complicated to think about how you will fund it. A Gallup survey found there are ten main sources of income for retirees, with some being more significant than others. Have a look at the list and consider where your retirement income is going to come from: (more…)

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So, you’ve worked hard, budgeted carefully and managed to get yourself out of debt – or at least out of credit card and personal loan debt. The next step is to make sure you have a good savings account, both for money to use in the future, and in case of emergencies. That way you won’t get into the debt trap again. There are a number of different kinds of savings accounts you’ll need to consider, each with their own pros and cons: (more…)