How to Help Your Money Grow   Unfortunately, money will not grow by itself. You must nurture and care for your money or else it will just fade away into oblivion. 1. Open an asset money management account instead of a checking account. That way, you'll earn interest on money you've set aside for bill paying. Many banks offer these accounts with as little as a $1000 deposit. 2. Shop around for the best interest rate and lowest minimum down. Brokerage houses give you the best rates, but your initial down is usually about $2500. 3. Arrange for direct deposit of your paycheck or Social Security check. The reason is simple, your money earns interest immediately. Usually even quicker. 4. Establish a passbook savings account for convenience. Only in case you need to access an automatic teller machine, which is necessary with today's lifestyle. Use this for quick cash only. 5. Use credit cards with discipline. That means only purchasing items you've planned for in your budget, then paying the entire balance due by the date specified in your statement to avoid stiff finance charges. 6. If you must carry a balance, don't. The best way to waste money is to pay interest on a dinner you had two weeks ago. 7. Do not pay charge card annual fees! There are too many companies out there looking to sign you up as a life long member, although the interest rates are still too high, some banks are currently lowering them.

Resources Got Money?: Enjoy It, Manage It--Even Save It - Need to get a financial life? Read this. got money? tells you where to go to get started, whether it's buying mutual funds or getting out of debt. It's like having a conversation with a really cool money-savvy friend. Become a Millionaire - Find out what it takes to save a million dollars.      Privacy Policy | © 1998-2002, Kolias & Co | Liability Disclaimer