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5 dangerous savings attitudes

Every one needs some sort of an emergency savings account and a retirement nest egg in the making. If you don't have either, what's the deal? Have you ever considered that the problem might be YOU, not your income?

We've identified five "anti-saving" personality types -- any sound familiar? Capture your dreams of financial freedom with these tips for changing the way you view and handle your money.

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1. The tomorrow troubadour
Stop singing about starting to save "tomorrow," when the sun will shine on your finances. Start today. Here's how.
Make saving a habit that's easy to keep

5 quick tips on how to save for the rest of your life.

15 simple ways to stretch your budget

Use our handy checklist to free up some cash and boost your savings account.


2. Mr. or Ms. No-go
Saving a little now won't amount to much, so why try, right? Wrong! A little each day can become a treasure with time. Add determination to your budget to reach your goal.
Create space in your budget to save

It's easier to find spots to save when you make a plan.
Plus: A budget worksheet


3. The pro-clutter (wo)man
Little progress is made under a disorganized pile of paperwork. Organize your finances for success.
Prioritizing your finances, step-by-step

Focus on one financial priority at a time and you'll achieve success more quickly.

Push out your bad debt ... ASAP

Use the "payment-push plan" to methodically dissolve your debts. Here's how it works.


4. The missing manager
Lack of investing know-how is no excuse for neglecting your investments. Adopt a take-charge attitude.
Grow your investments from the ground up

Here are some tips on diversification, and choosing a broker and a financial planner.

Learn about basic investing strategies

Check out these investment strategies, from "buy and hold" to "dollar-cost averaging."
Plus: FAQ about 401(k)s


5. The mood-ring investor
Your mood and emotions can color your judgment and lead to costly investing errors. Here are mistakes to avoid.
Investor psychology: Your mood can cost you money

Experts say our emotions and biases often determine our investment choices. How about you?
Plus: Know your investing biases
Also: Beat your investing biases

-- Posted: Dec. 7, 2004

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