Jean Chatzky

When something you use again and again is on sale, take advantage. This strategy doesn't apply to perishable items, and you don't want to buy so much more than you need just to get a deal, but if you know you're going to use a product eventually, it pays to take advantage of the cheaper price.

Knowing where you stand in your quest to accumulate enough money for retirement is an incredibly important part of the planning process.

Anything past 90 days constitutes 'severe,' but all late payments stay on your report for seven years if reported.

If you haven't gotten a raise in the past couple years for a job well done, it might be time to ask for one.

Simply calling your credit card issuer and asking them to lower your interest rate may yield immediate savings.

The wealthy are confident in their abilities to overcome bad situations - on the job, in their personal lives, with their finances. Many have triumphed over dismal financial starts. And, unlike most of the population that hops from job to job, career to career, the wealthy are much more likely to stick with what they start.

Debt certainly isn't always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low interest rates.

Face your financial issues head on. Open your bills, pick up the phone, call your lender. If applicable, tell them you're struggling and explain why. If you lost your job or took a pay cut, be ready to prove it.

When you're setting up a budget, a general rule is to start with your fixed expenses - your housing and insurance payments, and car payment, if you own one.

I'm big on setting goals, but I also think that if you have too many lofty ambitions and set goals for everything, you can sabotage your efforts by overextending your brain.

Where wealth is concerned, individuals aren't stuck in little boxes. You don't start out wealthy, stay wealthy, and end wealthy.

If you live in a yard sale kind of neighborhood - in good weather, most neighborhoods are crawling with them on weekends - do a sweep to see what the competition is charging. No one is going to buy your $7 book if they can get it down the block for $1.