1. Create a budget! The first step to avoid a financial emergency is to know how much money you have to pay debts and to save.
2. Pay bills on time to eliminate unnecessary late fees. Get free bill paying reminders.
3. Cut out wasteful expenditures for products and services you really don't need to survive.
4. Pay down on any and all interest loans and credit cards, starting with the higher interest rates.
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5. Examine credit card statements and balance checkbook. Look for unauthorized charges or withdrawals and challenge them. Order a credit report to check for errors that could affect eligibility for loans, credit cards, and lower interest rates.
6. Find a reputable investor. Don't rely upon "tips from friends" on where to invest money. Paying a professional may prove more profitable.
7. Consider retirement. What bills do you want paid off before retiring? How much money will you have? What lifestyle will you want? Consider an annuity.