- my iParenting
- quick clicks
- article archive
- expert q & a
- community & groups
- research baby names
- prepare a birth plan
- content channels
- ip channel rss feeds
- read birth stories
- read parenting stories
- recommended books
- e-newsletters
- safety recalls
- ip diaries
- ip store
- mom of the month
- dad of the month
- editor's letter
- letters to the editor
From Our Sponsors
- e-newsletters
- Sign up to receive our free weekly e-newsletters
- award-winning products
The iParenting Media Awards program helps parents find the best products for their families.
Worried About Bills, Investments and Work?
10 Ways to Make the Most of Your Money and Your Life
5. First Pay off Consumer Debt, and Then Start Saving
Don't begin a saving program until you've paid off your consumer debt. You're very unlikely to earn an investment return, after taxes, that exceeds the relatively high interest costs on credit cards and other common consumer debt. "When you can afford to set some money aside in savings, make your saving automatic by setting up a direct-deposit payroll deduction with your employer (or using automatic checking account transfers to an investment account if you're self-employed)," he writes. "That way, you're free to spend what's leftover, and you don't need to drive yourself and other family members crazy tracking every expenditure." 6. Consider Your Investment "Wants"
Investing is clearly more complicated than just setting your goals (when do you want to retire, how much of your kids' college costs do you desire to pay and so on) and choosing solid investments. You should also consider what you want and don't want to get from the process of investing. Is it a hobby or simply another of life's tasks, such as maintaining your home? Do you desire the intellectual challenge of picking your own stocks or would you be content with entrusting some of those decisions to others? Deciding how you feel about these considerations will shape your approach to managing your investments. Don't just ponder these questions on your own. Discuss them with family members, too – after all, you're all going to have to live with the investment decisions and results. 7. Learn How to Cope with Inevitable Investment Setbacks
Slow down and pull back fom stressful situations and news before making future decisions. As with everything in life, recognize what you can and cannot control. Don't waste your time or energy by closely following things that you have no control over. Tyson is a big fan of the Serenity Prayer. It might help you to post this someplace where you'll see it daily, especially if you try to exert too much control over every little aspect of your investment portfolio, or your life in general. (Grant me the Serenity to accept the things I cannot change, the Courage to change the things I can, and the Wisdom to know the difference.)