More Great Saving Advice From The WSJ

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The Wall Street Journal has a great piece: Saving Matters More Than Ever

Much of it reinforces what I have told you before - prioritize, know where your money is going, build an emergency fund, pay yourself first etc. It's a short and worthwhile read. Here are some select quotes:

"Becoming a better saver is more than just cutting out the morning latte. It's changing your entire relationship to money.

Some 12.5 million Americans were unemployed at the end of February, including 2.9 million who've been jobless for six months or more. From the market's October 2007 peak through January, U.S. shareholders lost almost 85% of the capital gains they'd amassed in stock mutual funds since 1990. And while stocks rallied in March, we're not out of the woods yet.

It's time to get a grip on your money."

And

"Think big-ticket. Here's how to save hundreds of dollars a month: Set a higher deductible for home, automobile and health insurance. Refinance your mortgage. If you get a pay raise, use the windfall to trim debt and boost your bank account. Once you've set priorities, that $4 latte might be worth it after all."

And

"Eliminating a 14% credit-card interest payment is like getting a 14% risk-free investment return, and lifts a heavy emotional weight as well."

And

"When times get challenging, people get more creative," says Nathan Dungan, founder of Share Save Spend, an educational program that encourages healthy financial habits. "Be more attentive not only to how much you're saving, but where."

The Internet is a great resource. Take advantage of online retailers' discounts posted on shopping Web sites such as CouponCabin.com, DailyDeals.com, RetailMeNot.com and CoolSavings.com. Visit price-comparison sites including Bizrate.com, Shopzilla.com, PriceGrabber.com, BillShrink.com and Google.com's "Product Search" function to find bargains."