A Little Personal Finance Lesson for Newsviners

The opinions listed below are simply what I would do. You, the reader, are in no way obligated to take action on these opinions and should not due so without consulting a personal finance professional.

I'm not really sure what the socioeconomic breakdown is at Newsvine, but most people can generally use a little help in some way or another. I am a firm believer that every student in the United States should be required to take and achieve a C or better in a personal finance (not life skills) class. I also hope that this topic is an issue in the 2008 election. So many people could have enough money for important things such as health care if they knew how to manage their money a little better. The list below outlines a few ideas that I would/do use to improve my financial situation.

1. When you can buy store brand items...do. Unless of course it is a genuine issue of quality. In almost all cases, however, it isn't. At CVS, one liter of their mint mouth wash was recently being sold for $2.44. The same amount of Listerine mint mouthwash is $4.99. Both have the same active ingredient. So why is it cheaper? Because CVS doesn't have a second buyer/ middle man. This savings may not seem like much, but when you follow this rule for a lot of shopping, it starts to become noticeable in the budget.

2. Don't eat as much (applies to overweight and obese people only). Believe it or not, food costs a lot of money. Try eating less. Imagine that you are turning your fat into money$$$.

3. If you don't have a job, don't have health insurance, or both, consider the military. Before you criticize me for trying to put poor people in the line of fire so rich people can live, go to the military websites ( http://www.army.mil , http://www.navy.mil , http://www.af.mil , http://www.usmc.mil , http://www.coastguard.mil ), look at career opportunities, and hear me out. There are plenty, and I mean plenty of jobs that don't require you to be in harms way in the military. All the computer technicians and basic logistics jobs and other jobs, which don't even require a college degree are almost as safe, and even safer than many other jobs. The military gives health care for your years in service, and if you make it a career, you get it for life. Not a bad way to move from the lower class to middle or middle to upper middle, which is exactly what my uncle (Navy) has done. He has told me that the Air Force has the best quality of life, but they are all pretty good.

4. Gadgets. Computers, for the most part, are a necessity, especially for Newsvine. Cell phones and iPod's are not. These things are nice to have, but only get them if you don't have any credit card debt and have a steadily growing bank account. If you really need a cell phone for work, your company should provide it. iPod's are even worse. I do have one, but I currently am not in a situation where I am in need of money.

5. Credit cards. If you are having any trouble with money, scrap the credit cards. Debit cards are just as easy and even simpler.

6. Finally, don't be afraid to get help. You should look at getting help with your taxes or hiring a personal finance professional as an investment. It may cost some money, but in the long run, it will most likely pay off.

Don't be afraid to suggest other ideas. I know that there are tons of them out there, I just tried to list the relatively easy and simple ones.

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