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10 more ways to look after your cash

1. Donít buy shares Ė unless you a) definitely know what youíre doing or b)can afford to lose the money. Shares are not a method to get rich quick. The only people who get rich quick are the dealers and brokers. Brokers/share dealers pay their million pound bonuses out of your losses.

2. Donít buy ISA Shares Ė this is a government backed share scheme (and therefore you think it must be ok) to redistribute your money to their friends in the big financial institutions where they will get cushy jobs after leaving Westminster and yes you guessed it, they pay their million pound bonuses out of your losses. Cash ISAS on the other hand are a good investment.

3. Donít buy Internet get rich quick schemes Ė Work from home and watch the millions role in. The only people making money are the ones selling it to you. Donít be fooled.

4. Donít buy property abroad for profit Ė Again unless you really know what you are doing be extremely careful. There are lots of good deals on paper but the reality is something else. Be especially aware of Spain which has overdeveloped.

5. Donít buy extended warranties Ė they are on the whole a waste of money.

6. Donít buy a brand new car Ė you can kiss a third of the value goodbye when you drive it out of the showroom. Thatís like flushing thousands down the toilet.

7. Donít buy a petrol guzzler like a 4x4 Ė Surely youíre not so shallow and insecure that you have to pose about in a lump of metal that costs the earth (literally) to get from A to B.

8. Donít renew memberships to clubs you rarely visit Ė join clubs you are going visit or do something else with the money.

9. Donít forget to work out your income v. your spending Ė everyone should have a good handle on how much they are earning and how much they are spending otherwise disaster will strike in the form of unmanageable debts. See Face Your Finances

10. Donít forget to make an annual spending budget Ė make a list of everything you would like to spend on during the year then break this down into a monthly and weekly budget and Stick To It.



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"Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
Charles Dickens