by Quo Elbert

Created on: April 24, 2008   Last Updated: May 09, 2008

Someone once told me that anything can be used as a tool. See that piece of paper? Yield it in the right manner and it's a blade. Fold it and it's a plane. Tear it into little pieces and wad those with spit and...well, you get the point. Similarly, money is a versatile tool that can either come to your defense or become a running gag. Here are some serious steps to saving and budgeting your finances:

Step 1. Get-ING smart. Everyone knows the phrase, "It takes money to make money." It's an observation that seems about as applicable to the average pocketbook as offering water to someone who's holding a paper cup spotted with holes. But, in actuality, it doesn't matter how much you have; even a very little can regularly earn you cash. www.Ingdirect.com is an online bank that offers a savings account yielding more on your money than most money market accounts. But, this is only a doorway to the real zinger. After owning your savings account for a while, you can open an ING Checking Account. This little baby lets you earn money on the funds you have in your account. You get a debit card, free online bill pay, a running record of all transactions. You can write and send paper checks from online (no more of those checkbooks). And, not that I'm promoting rubber transactions, but the cool feature about this account is that instead of charging you $25-40 per returned check, they'll simply charge you an incredibly small interest rate on the amount you owe them, up to the insufficient funds limit which is initially set at $250.00. In other words, that charge you miscalculated will literally cost you cents, not dollars. And, you can transfer money to and from a physical bank account, such as Washington Mutual or Bank of America very easily, though the transfer does generally take 3-5 business days. The interest you earn on the money that flows through your online account shows up monthly in your transaction history. The longer money rests in your account, the more it earns you. SuperTip: By setting up direct deposit you ensure that your paycheck makes you a little money before you have a chance to spend it!

* Another way to start making money with your money is to use your credit cards. This option is only for super responsible people. People unlike me and those I know. But, take advantage of the Cash-Back option on many cards by making purchases that you intended to make anyway and immediately paying off the debt.

Step 2. Shop Smart!

a) In Southern California I was introduced

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