six tips for financial health in tough economic times

2. Is your financial health, like many Americans, struggling in these tough economic times? Are you looking for someone or something to help you better manage your finances? Then you have come to the right place. This presentation will provide six tips that will help you better manage your finances and provide stable financial health. �

3. The average American family has been challenged to make ends meet in the midst of this struggling economy. It's been a tough couple of years for many folks. Belts have been tightened, excess has been trimmed, and we are learning to do without the extras that we've all been used to enjoying. �

4. In times of economic strife, it is a good idea to take a realistic look at spending habits, financial responsibilities, and where discretionary income is going. The following are six tips to help get your financial health into top shape. �

5. Financial Health Tip 1: Pay with Cash - Paying interest on a purchase can increase actual cost dramatically, so unless you are paying off credit card debt in full each month, save up first and pay in cash when making a purchase. Practice patience! Financial Health Tip 2: When others panic, buy - With every financial crisis to date, the market sags. Late 2008 through early 2009, with a 43% drop in the Dow, was a great time to load up on long term investments. If you can afford it, this is a great time to invest. �

6. Financial Health Tip 3: Debt can be dangerous - Credit is a valuable tool, but it must be used sparingly. This is where many people dig themselves into deep financial holes. Get rid of the shovel. Pay off revolving debt and cut up credit cards. Keep a minimum number of cards. Many financial experts recommend having no more than three cards to be used only for emergencies. Financial Health Tip 4: Your home is your shelter, not an investment - Home prices can rise and fall, like any other assets. Don't expect appreciation in the value of your home to be a substitute for retirement savings in traditional investments. Start retirement planning early, and consider long-term care insurance. �

7. Financial Health Tip 5: Manage your paycheck - More than 70% of Americans overpay their taxes each year. While a refund is nice, it's even nicer to earn interest on your money instead of giving the government a free loan. Check your withholdings with the Form W-4 Assistant available on the Internet. You can change your withholdings at any time. On the Internet you can find the tools to put this money back into your pocket. Financial Health Tip 6: Do not live beyond your means - Was this ever a good idea? It seems to be a problem for many Americans. In the U.S., personal savings is practically non-existent. Too many of us are living paycheck to paycheck. Find a way to spend less than what you bring home and your finances will slowly improve.

8. Samuel Kerch, CPA is the Controller and Director of Tax Compliance of Symmetry Software, a software developer that specializes in payroll and payroll-related software applications for the internet and corporate intranets. For more information about financial health, visit http://www.paycheckcity.com/index.asp today.