“If you would know the value of money, go and try to borrow some.” - Benjamin Franklin

Know how to stretch a dollar and make your money work for you. Women’s Personal Finance has come up with 46 tips to help you do just that… Here are some of my favorites:

Always Try to Pay More than the Minimum Mortgage Payment. By paying one additional principle and interest payment (mortgage payment minus any escrow payments) onto your mortgage balance each year, you will knock years off the life of your note. It all adds up- to a lot!

Avoid the 20% “Fool’s Tax”- Don’t Buy a Brand New Vehicle. As soon as you drive a brand new vehicle off the lot, it’s value drops 10-15%. Depending on the make and model of the car, the depreciation will continue to drop an additional 10% by year’s end and each year after for the next two years. By purchasing a previously owned or leased vehicle either a year or two old, you’ll still have a quality auto with available warranty while letting someone else take the major financial hit.

Don’t Waste Too Much Time with Coupons. Take, for example, coupons. Although these little slips of paper can add up to save you a few dollars a week (ever more if you shop at a store that offers “double coupons”), ask yourself a few questions before busting out the scissors.

1. First, do you need it?
2. Second, is it something that you and/or your family will use?
3. Thirdly, is there a comparable item, possibly generic, that’s cheaper without the coupon? If you were planning on buying an item and have a coupon, great! But if not, don’t even bother- it’s money spent on something you don’t need, which is considered to be a waste.

There’s a Big Difference between Saving and Investing. While saving money is something that should be done regardless (rainy day savings, retirement, etc.), investing should be done when you are relatively debt-free, especially when it comes to credit card debt.

Always have an Emergency Fund Available Equal to 3 Months Pay. Just in case of illness, auto accident or you’re the victim of corporate downsizing, the 3 month rule should be enough for you to get through without having to dip into any long-term investments.