Quizzes

What's Your Financial IQ?

ATM-Educated: Now that you've mastered the essentials, take the next step in your financial education: Pay yourself first. The concept -- essentially, that the first check you write every month should be to you -- is one of personal finance's most frequently cited savings strategies, and for good reason. Consistent, interest-earning contributions go a long way toward helping you reach your financial goals. To get into the routine, before you do anything else each month -- pay utilities, buy groceries, anything -- deposit a specific amount of your family's income in a high-interest savings account. (It can be $10, or 10 percent of your bi-weekly paycheck; the exact amount doesn't matter, so long as it remains steady or grows from month to month.) Yes, this will force you to live on a bit less, and it may even mean that you have to cut back on restaurant dinners and spur-of-the-moment toy store trips. But whether you're saving for your retirement, your kid's college education or an unforeseen emergency, a touch of financial discipline today will give you the freedom to relax for years to come. For more money-saving tips, check out the articles and advice in Money-Savvy Moms.; Take This Quiz