Are you worried about overusing your credit card? Is this something you have done in the past? If so, there are ways you can avoid future problems. One of the easiest is to use your debit card instead of a credit card. Believe it or not, this can do wonders for your finances.

As you probably know, a debit card is connected to your checking account. Every time you make a purchase the proper amount is debited from your account. This is in contrast to a credit card in which you are borrowing money that you will eventually have to pay back, many times with interest tacked on top.

The main benefit of using a debit card instead of a credit card is that you are not going in debt. If you don’t have enough money in your checking account to make a purchase you simply do without for the time being. This may be a major change that you are not used to, but from a financial perspective it will go a long way in keeping you debt free.

By using your debit card instead of a credit card you can more easily manage your money while also staying out of debt. How does that sound to you?

So, maybe 2008 wasn’t the best year for you financially. That doesn’t mean that 2009 needs to be more of the same. The Being Frugal blog has a bunch of tips for making 2009 a good financial year:

• Get an accurate picture of your current financial position - calculate your balances in terms of debts, savings, loans and investments. You have to know where you’re starting from.
• Always pay yourself first. That is, put a portion of every pay check into savings or investments.
• Decide on your financial priorities. You can achieve a lot if you put your mind to it but not everything at once, so figure out what financial goals are the most important to you.
• Learn about finances. If you are ready to do some investment, read up online and in the library to learn the best way to do it. You don’t always have to spend money on fancy courses to learn how to make money.
• Create less waste by only buying what you really need and will use - food is a good example of this.
• Focus on what you have (not what you don’t have) by also doing some giving. This doesn’t have to be financial contributions to charity - you can also give your time as a volunteer to help other people.
• Give up trying to “keep up with the Joneses” - just learn to be satisfied with what you can afford.

Have you ever given any thought to paying your bills online? If not, you should be aware of the benefits before you pass this by. Here are three benefits of using the internet to pay your bills:

1. It is quick. Why would you want to fill out a check and mail it when you can simply pay your bill online? It is much quicker to login to an online account than to mail a check.

2. Cuts back on stress. Do you constantly worry about your payments getting lost in the mail? Again, online bill paying can help you. When you pay online you never have to rely on the post office. How does that sound to you?

3. Avoid late fees. If you send your payment via check you never know if it will arrive on time. In turn, you could get smacked with a late fee when you don’t really deserve it. By paying your bills online you can send the proper amount at any time, as long as it is before the due date.

As you can see, there are quite a few reasons to pay your bills online. To take advantage of the above benefits begin to setup online accounts today for all of your bills.

There are numerous theories out there on the best way to make your own budget but the clearest, most logical we’ve found in a long while comes from the Financial Planning site at About.com. It involves gathering a fair bit of information and spending an hour or so collating it, but it sounds like it will make a realistic budget that you can actually use to help you save money or get out of debt. The main steps are:

1. Gather together every relevant bit of paper - bank statements, household bills, income information and so on. You aim to create a monthly average which means that the more you can gather the better, to average in payments that you may only make once or twice a year.
2. Calculate your total income from all sources, including your job, investment income or anything else, and make a monthly average.
3. Calculate your total expenses over the period of the paperwork you’ve gathered (or longer if you know of other important payments) and figure out the monthly average.
4. List all your expenses, dividing them up into fixed and variable expenses.
5. Total up your monthly “profit or loss”, and hope that it’s a profit. If not, you’ll need to figure out some changes to your budget immediately. If you do have money left over, you must decide where to allocate it - for example to an emergency fund, or to a retirement savings plan.
6. Adjust expenses where you can to save more money.
7. Every month, sit down and review your budget. It only takes a few minutes but can save you a lot of money.

If you’re feeling the pinch and would like a little extra side income to help cover some bills or get you back on track - or even to save some money for a special occasion like a vacation or a wedding - then you need to know the tips that Five Cent Nickel has been giving for those who are looking for some extra cash. Few of the ideas will make you rich but they will put some dollars in your pocket. Some of the best include:

• Get a paper route - that you can fit in before or after work, and get some exercise with it
• Do some baby-sitting or pet-sitting - they pay surprisingly well
• Get involved in marketing focus groups
• Sell your used textbooks, and other extra stuff you have around the house that you no longer use much
• Become a tutor if you have decent knowledge in some subjects - you don’t have to hold a PhD in mathematics to be able to help an eighth-grader
• Hire yourself out on weekends to do gardening work or other home handyman type tasks
• Do some cleaning work, either for offices or homes
• If you speak a second language, offer your services as a casual teacher or for language exchange programs

Clothing thrift shops don’t have the stigma they used to, and you can often find great clothes there at excellent prices. Just think of the bags of clothes you give away to charity - sometimes there’ll be clothes you bought but never wore because they didn’t fit properly or you didn’t like it once you got home - and that means there are heaps of practically new clothes on sale at these thrift shops. Get Rich Slowly gives some great tips for buying clothes in thrift shops:

• Set yourself a budget so you don’t go crazy buying dozens of items of clothing
• Always try things on - especially if they could be a couple of years old because sizing is constantly changing
• Have a very careful look at an item of clothing before you buy it, in case there is a hole or stain somewhere you didn’t notice at first
• Always wash used clothes when you get them home, before you wear them
• Ask the store when they rotate the stock - some only do it once a week for example, or less often - so you can be there when the newest stock arrives
• Have plenty of time to spare, because it takes a lot longer to sift through racks of random, unique clothing than it does to look around a shop full of new clothes where there’s much less variety
• Take a friend with you to help you with second opinions

Getting good advice on how to plan for your financial future is vital, but finding a financial planner who you can trust and who will take the time to figure out what is best for you and your particular circumstances is a tricky business. At the very least, consider some of these tips for finding a financial planner before you sign up to anything:

• Get some recommendations for good financial planners from your friends, family and your accountant. This is infinitely better than just searching through the Yellow Pages but if you don’t have anyone in your area to ask, then get online to see if there is a forum giving some unbiased recommendations.
• Think about what your financial needs are - for example, are you mostly interested in creating a retirement portfolio - and try to find a financial planner who is more specialized in your area of need.
• Meet with two or three at least - an introductory meeting should be free - so you can find someone you feel more comfortable with.
• Ask about how they get paid - whether it’s by commission, flat fees or fees based on your assets you invest through them - so that you can make more informed decisions about the investments they recommend, and so you don’t get any nasty surprises later.

Are you interested in opening an account with an online bank? This is a trend that is taking off, and you can get in on the action soon enough. That being said, you should know that there are many online banks to choose from. Do you know which one is best for you and your money?

Choosing an online bank comes down to many factors. One, you want to get involved with an institution that has a good reputation within the financial industry. After all, you never want to take a risk with your money regardless of how good the potential benefits sound.

You should keep perks in mind. For instance, are you opening a savings account at an online bank? If so, you want to find the one that offers a competitive interest rate. But again, don’t forget about other details that go along with this such as whether or not your money is FDIC insured. (more…)

If you’ve ended up without a job - or even if you’re still employed - now is a good time to figure out some ways to cut your expenses, using these tips from Wisebread:

1. Cut housing expenses by renting out a room, downsizing to a smaller rental, or moving in with relatives for a while. Although many people may think that living with their parents or other relatives is a last resort, it can take the strain off your finances until you are in a better position - but don’t make it a strain on their finances by not making a contribution that at least covers all the additional costs they incur by having extra people living there
2. Cut transport costs by selling your car (especially if you have a loan on it, thus reducing debts as well) unless it’s vital to a future job where you live; or move to a place where you can use public transport more easily.
3. Buy in bulk and stock up during sales for household necessities (that’s things you need - not things you want!). So far as other kinds of shopping go, avoid them like the plague.
4. Be extra careful. Breaking something or having a minor car accident (if you’ve still got the car) have a much bigger impact when you’re living without a regular income; but it’s good practice to take care of your possessions at any time.

Do you want to attend college? If so, good for you. An education is very important, and this can go a long way in helping you earn more money in the future. Of course, you need to pay quite a bit of money to get a college education. How are you going to afford tens of thousands of dollars?

Most students in today’s day and age are forced to take out student loans. If this scares you, you need to change your way of thinking. Yes, this means you are going to get into debt, but it is a part of life. Remember, student loan debt is not bad debt. While you do have to pay it back you are getting something in return, a good education.

You can offset your loans by asking your parents for money or working your way through college. Any bit of money you put towards your tuition is debt that you will not have to pay back after graduation.

If you want to attend college do not let the money (or lack thereof) hold you back. Instead, consider all your options so you can obtain a degree in your desired field.