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5 things to know: 6-15-12

By Dan Miranda · Bankrate.com
Friday, June 15, 2012
Posted: 8 am ET

So you can't save money because because you need to pay for your kid's school? We lay down the law and tell you just how dumb that excuse really is. Tell your kid to get a job before piloting your private jet to your retirement destination in Malaysia. That'll learn 'em. This and more, today on Bankrate.com.

1. Saving money should be your first financial priority. If you disagree, read this. It might shed light on how your reasoning is so, so dumb.

2. Here's one smart reason to save: vacations! And certain fantastic destinations, such as Panama and Ireland, are pretty cheap to boot.

3. How much are you saving for retirement? If it's anything less than 11 times your annual salary, you're wrong.

4. Will the death of physical money bring out the cheating thieves in all of us? This shocking research suggests it.

5. Does it seem like foreclosures are happening left and right where you live? You might live in one of the top 10 states for foreclosure.

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