1. Think before you spend. Ask yourself if you really need this item-or simply want it.
2. Join a credit union. Credit unions do not charge extra fees for various things and they generally have better rates.
3. Avoid the credit cards like the plague! Credit cards will tempt you into a lot of unnecessary debt. Do not limit your freedom by gaining debt.
4. Save and then spend. Never spend money you do not have unless it is for academic purposes and can be covered by a loan.
5. Pay your bills on time. You do not want to fall behind on payments or it may be a long time before you catch up. There are also many negative consequences associated with falling behind on payments.

1. Know The Market

Today’s economy is not like it used to be. As little as 4 years ago, home sales were on the rise across most of the United States. General contractors were having trouble keeping up with the demand for homes, and the price of homes continued to rise. Investors were buying them two or three at a time, with the hopes that the economy would continue to thrive and they could sell their property for a lot more than they bought it for.

Then, in early 2006, with almost no warning, the housing market climaxed, leveled off, and started to drop. Housing prices slowly began to drop. . .and drop. . .and drop. Now it is 2010 and there are no signs of improvement. Since 1990, the Case-shiller index shows that the market has not declined until the market crash of 2006. That’s 16 years of steady increase. But now that’s in the past. We’re in the now. So what can we do about it?

2. Don’t buy a home for more than you can afford

Another first time home buyer tip is keeping your budget. Buying homes that are too big and too expensive is what got us into the housing market mess we’re in now. There are plenty of websites that will give you a free estimate on what you will pay monthly for your mortgage. If you are buying a home with your spouse, a good idea is to plan on spending the income of one spouse each month on the mortgage, which leaves room in case one of you loses a job or there are other unforeseen financial strains. Don’t forget about including taxes and homeowners insurance into your budget. Figure out how much you want to spend on a home, and don’t go over budget. Again, there are plenty of options in today’s market, so be patient.

3. Do Your Research

Buying a home is a major life decision, and it’s consequences will be lived with for a long time. Research the neighborhood surrounding your home. Talking to your future neighbors is a great way to find out about the neighborhood, crime rates, education, local government, etc. and most people are willing to talk. Think about how far away the mall is, if there’s a park nearby. If you see gang signs and graffiti on every corner, you may want to consider someplace else. Be patient. The right home will find you.

4. Buy A Foreclosed Home

One of the biggest causes of the housing crash was banks and financial institutions lending mortgages at 5 to 10 times the annual income of people. That means that if someone made $100,000 in a year, the bank would lend them $500,000 or even up to $1,000,000. Most people were okay with that, because if the market continued to rise, then their home would be worth a lot more than they bought it, and they would make money when they sold it. But when the crash hit, many people owed the banks a lot more than their homes were worth. People were simply walking away from their homes, and foreclosures rose rapidly.

When a home is foreclosed, it means that the owner rights are taken away from the owner and given to the lender (usually a bank), so that the lender can try and sell it and make back some of the debt that the owner has incurred. Lots of times these home go up for auction, and that is where first time home buyers can find a great home for thousands of dollars less than it is worth.

5. Don’t own the nicest house on the block

When buying a home, even in a down market, it’s important to remember that you will most likely not live in one place your entire life. Try and find a home in a nice neighborhood that is a little bit smaller or older than the majority of the houses around you. This will increase the value of the home, and give you some leeway in making improvements. Don’t get carried away, either. Keeping up with the Jones’ is not a happy way to live.

By following these first time home buyer tips, buying your first home will be a solid investment, and not a financial burden.

This year, the town of Eden Prairie, MN (population: 64,000) won out. You’re probably wondering why a small city in Minnesota would prove victorious against thousands of other towns across the country. It deserves the prize for a number of reasons.

Eden Prairie boasts only a 5.1% unemployment rates because of the big pile of jobs that have been pumped into this little town. A Fortune 500 trucking company employs many, along with the Minnesota Vikings practice facility and head office being located here.

It also has a great education system and a low crime rate. But having all these perks doesn’t make it any less fun to live here. There is plenty of things to do for families and single citizens alike.

Check out the CNNMoney.com Top 100 list to see if your city made it onto the list!

The bill would push the unemployment benefit deadline back to November, which would give more time to those who are going through times. The bill will have to go back through the House, and if it makes it there, it will make its way to the White House to be personally signed by President Obama.

Obama praised lawmakers for passing the bill by saying, “Today marks an important step toward passing the unemployment insurance extension which is critical to millions of Americans fighting to find a job, put food on the table and make ends meet during this tough economic time”.

To read more about the bill’s passing, visit CNNMoney.com

The question that hit our minds was about how legit and good these companies are. We checked out Bidsauce to find out.

When first landing on the page you notice that the site actually looks pretty clean cut and simple. Other sites we’ve seen are clustered and look like a ten-year old put them together.

We loved the design and the banner at the top, which displayed new facts and news updates.

One thing we noticed and haven’t seen anywhere else was the ad for a “guarantee”. We usually don’t like guarantees, because it means you’re dealing with risky business, but this one gave us a nice surprise. Apparently if you don’t win anything off of your first round of bids, they’ll give you that round of bids back for free. That’s pretty cool.

So far, we believe that penny auctions is a trend that will stick around for quite some time, but because of some great sites like Bidsauce, we aren’t too upset.

The following is an overview on an article, titled “The Six Financial Mistakes Couples Make.”

The six mistakes are as follows:

1. Merging the Finances:  This is a question many couples go through as they consider how to begin their lives together as well as their financial lives together. Each relationship is different, and therefore, not all solutions will work for every couple. Some may pool all their money together and some may have separate accounts with a joined account for part of the money. Whatever works for you and your partner, be sure to agree together and not be too selfish over your finances. Once you are married, money should be a joint commodity in one way or another.
2. Dealing With Debt: Even if you have remained debt-free your entire life, you may marry someone who has acquired debts. As frustrating as it may be to deal with this extra burden, calling it “his” debt or “her” debt will not help. When a couple gets married, the debt now becomes “their” debt.
3. Keep Spending in Check:  Many couples label each other as “the spender” and “the saver” or other delineating terms. In actuality, most partners probably spend about the same just in different ways. Because of this variance in perspective, couples do not see that they are both spending and a positive solution would be to create a budget.
4. Investing Wisely: Many couples disagree on which financial risks should be taken and how many of these risks they should take. There really is no fits-all-answer because situations vary, but the important thing is that these couples sit down at least once each year to discuss the financial investment risks that they are willing to take.
5. Keeping Money Secrets: This should be a no-brainer, but for whatever reason, many couples admit to having lied about how much they spent on a particular item. This causes huge financial distress in a marriage as you can imagine. Just be honest with each other and stick to the money-spending agreements you made in the budget, so you will have no need to feel like you must hide the price you actually paid.
6. Emergency Planning: No matter how financially stable you and your spouse feel you are, having a financial cushion to lean back on will bring more peace to your marriage where finance is concerned. Being financially prepared for an emergency, will put you in a better place if disaster does strike.

It’s a big hassle, but the article gave some quick tips on how to dodge this annoying fee. Many big banks such as Wells Fargo now have phone apps that can automatically locate a proper ATM that is close by. That way, you can quickly find your own bank’s ATM so you don’t have to cough up a fee.

The article also suggests finding a bank that refunds ATM charges on your online accounts. These are banks like Charles Schwab.

BP is hiring 4,500 workers to clean up blackened beaches and other areas in Alabama, Mississippi, and Florida. This is a good sight for sore eyes considering that many of these Southern states have seen double-digit unemployment and have been hit hard by the recession.

What is even better is that many of the jobs will pay a minimum of $18 an hour, with supervisors getting paid $32 an hour. BP has already hired many, but is receiving thousands of applications from each state that they have to deal with.

For an online article discussing the new clean-up jobs, visit CNNMoney.com

Experts say that the trend is odd for this time of year, which usually sees higher oil prices because it is the beginning of the summer driving season for many Americans.

For more information, read this article on CNNMoney.com

Why? Because of Europe’s economic troubles, the euro is becoming weaker and weaker compared to the dollar. This means that American currency is gaining more clout overseas; and this means better deals and more money for American tourists who are in European cities.

If you are an American and have always thought of traveling to magical European cities like Paris, London, or Rome, this might be the right time to plan that long-awaited trip! For more information, read this article on DailyFinance.com.