10 Enlightened Money Tips:

1. Give. Make it a practice to donate the first 10% of your income to your favorite church or charity. Give with a grateful heart and you'll soon see the power that comes from giving.

2. Save. Make it a practice to donate the second 10% of your income to your retirement or savings program. It takes discipline, but by saving just one dollar a day at a 10% interest rate, you will be a millionaire in 56 years. Add more or get a higher return and you will get there sooner.

3. Education. This is more than a college education. This is the commitment not only to keep your skills fresh, but to devote your life to constant growth and learning. You can also save a significant amount of money if you learn how to fix things up around the house, or how to decorate on a dime, or how to fix and maintain the car. Visit the library regularly for audio books for the car or to listen at the gym or read before bed. Also, with the advent of the internet, knowledge is at your fingertips - and it's free! Take advantage of it.

4. Keep the Change. At the end of each day, put your coins in a jar. At the end of the month, use this change for special purchases like a family outing or vacation, a gift fund, or to stock the pantry or to buy cleaning supplies. You may be surprised at how quickly the change adds up!

5. Trade. Make a list of your talents or abilities (baking, child care, crafts, writing, web site design, etc.) Make a second list of the things you need (haircuts, car repairs, dental work, etc.) Now, cross-reference the list between what you have to offer and contact those who have the services you need. Don't worry that people will be offended if you ask them to trade. Most successful business people use trade regularly. It's just a smart money skill. That said, be honest in your dealings. Your trades should be for the retail value to the retail value. Do not pad your price to get a better deal than you would normally get by paying the full retail price in cash; and please don't expect something for nothing. The other person is trying to feed their family, too. Approach each transaction looking for a win-win solution.

When you meet someone new, ask, "So Mary, what do you do?" If it is something you could use, say, "That's great, I'm really good at doing (name your skill.) I've been thinking about getting (the service they offer). Maybe we could work out a trade. You'll be able to tell from their expression if that is something they are interested in or not. If it is, exchange phone numbers or talk further about the trade. To be nice, most people will say yes, but their expression will tell you if they really mean it or not. If it does not seem to be something they want to pursue, then let it drop. No harm done, and you didn't put them on the spot or make them feel uncomfortable.

6. Pay with Cash. Develop the discipline to save for the things you want. You'll enjoy them much more when they are yours free and clear. Debt is the number one cause of stress in the home. Avoid it like the plague! Your home and your education are the only things that you should finance unless it absolutely can't be avoided. You will save thousands in interest charges!

7. Buy Used. Clothes. A car. Whatever you need can probably be found in a gently used condition that will save you a bundle. Do your homework and talk to others. I have a friend who always looks like a million dollars. She confided that she hadn't been to a "real store" in years. All of her designer clothes come from a wonderful consignment store. Ask around for a reputable car dealer or look online. Make sure that if you purchase large ticket items from a private individual that you have it checked by a professional before completing the transaction. Also, shop the flea markets or garage sales, but get there early. With a little creativity and some elbow grease, your finds could look even better than the expensive custom models.

8. Shop Smart. Use coupons. Trade coupons with friends. Wait for the sales. Shop off-season. Purchase your gifts throughout the year when you hit a big sale, or wait until after major holidays to get fantastic deals. Make friends with the clerks at your favorite stores. Ask when items will be on sale, or when they'll be getting a big shipment. Use rebates - this means actually filling out the paperwork and mailing it in. Sign up for mailing lists. Visit your favorite stores online for coupons or special deals.

9. Pack and Go. Nothing puts a dent in your finances faster than eating out. Get in the habit of packing your lunch and sending a bagged lunch to school with the kids. It's healthier and so much less expensive than eating out. When on vacation, plan to eat out one meal per day (lunch is best because it is usually a dinner portion at a reduced price.) The other meals, just pack your own food like instant oatmeal, protein or granola bars, fruit, or bring a cooler for string cheeses and meats for sandwiches or wraps. Drink water at restaurants instead of ordering that soda. Keep a non-perishable food stash in the car for emergencies, and always have some bottled water on hand.

10. Review. Set aside time each week, each month, each quarter, and/or each year to review your finances. Cut unnecessary items from insurance policies, reduce insurance as your needs change, track your budget and make adjustments where needed. Plan for upcoming expenses. Look for additional ways to save, invest, and get tax deductions. Set goals. Develop a plan. Hold a family meetings to discuss changes and get ideas and buy-in.

These are just a few things you can do to get started today. For more information, visit the resources below, or sign up for our free University of YOU course to learn how to become an Enlightened Wealth Leader.

Financial Resources:

Small Business Administration
SCORE (Counselors to America's Small Business)
Consumer Credit Counseling
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