A Fool and His Money Are Soon Parted

A mortgage payment is a fixed expense because you can predict you'll pay it on a consistent basis. Other fixed expenses include other loan payments, tuition, rent and fixed utilities that don't vary from month to month.

A typical financial planner will advise you to try to make an emergency fund with enough money to get by two to three months without any other income.

Using a money market account for an emergency fund can help you make money on your savings while you aren't using it. Money markets draw more interest than basic savings or checking accounts, and you can still get to the money if you need it.

Generic prescription drugs are chemically identical to brand name, so it is cheaper and not unsafe to defer to generic. Just ask your doctor to prescribe the generic version of your drugs.

A large part of improving your financial situation means getting out of debt, and the longer you wait to pay off credit card debt, the more you'll have to pay in the long run. Making a grocery list and using cash are both good ways to stay on track.

A discretionary expense is one that you don't need but would like to have.

While pre-cubed, pre-pounded or pre-seasoned meats or poultry can save you preparation time, they cost a lot more than plain cuts of meat. If you can spare a few minutes to cut, pound or season your meat, you'll find the savings are significant.

Some critics say that putting money into an emergency fund is illogical if you have a Home Equity Line of Credit (HELOC). HELOCs come with checks that you can write immediately in the case of an emergency, and you can repay the money once you are past the disaster. However, you must figure in the interest and fees. Using HELOCs can be dangerous if you're not careful.

Both shifting to neutral when you are at a long traffic light and not riding on the brake will improve fuel economy and save you money on gas.

Money difficulties are known to cause stress, which in turn even make your immune system weaker. In addition, money problems and arguments are a major cause of divorce.