Get a Financial Life

Getting Your House in Order

If you can’t save money no matter how hard you try, you have something in common with most people, but you ought to change that as soon as possible. Follow these seven basic laws to put your financial house in order:

1. Get health insurance – Talking about how to increase your financial security is pointless until you have health insurance, because a single medical problem could bankrupt you. Health insurance must become your highest priority. If your company doesn’t offer it, buy it yourself. You can search online for information and quotes.
2. Reduce your debt – The best way to start saving is to put every spare penny you have into reducing your high-interest debt. The interest rates on some loans are higher than the return you’d receive from investing the money. Credit-card interest rates are often extremely high. Search the Web for credit card issuers who offer low rates.
3. Start saving for retirement – The best time to start saving is when you’re young. Interest rates will really start working for you as you get older and accumulate principal. Take advantage of your employer...