Finance

http://money.msn.com/saving-money-tips/post.aspx?post=deb35471-a7e2-404d-bce5-06299c36ad6a&ocid=vt_twmsnmon

Here are the highlights from that article:

Establish an emergency fund of at least three to six months of expenses. And don't delay; you should start building your emergency fund as soon as you get your first paycheck.

Set your overdraft limit to $0, and your debit card will not be allowed to overdraft your account. True, you could bounce a check. But if you are balancing your checkbook regularly, that shouldn't ever be a problem.

Being able to distinguish between wants and needs is directly tied to your ability to accept personal responsibility. All of us have only four or five primary needs. Those needs are food/water, clothing, shelter, transportation (for most of us), and health care. Everything else is a want.

What you save is the difference between how much you make and how much you spend. But it's tough to save anything if you don't know how much you can afford to save. That's why it's important to take a critical look at your expenses so you know exactly how much money you are spending.

If your tastes exceed your budget, ratchet them down a notch or three -- and stop making lame excuses.

Many people do understand the difference between a want and a need, but they have trouble saying no anyway. Being able to say no is a crucial skill in the world of personal finance. Those that can't will always have the most trouble keeping their personal finances on an even keel.

The bottom line: Spend less than you earn.