Top 10 Money Tips from Around the Web: June 2016

Because we are too lazy to come up with our own tips, we gather the top 10 money tips from bloggers, newspapers, and other online sources! We figured that since we spend so much time reading other people’s articles all month, why not share our favorites with our readers. Actually we believe that utilizing all of our resources always results in a better experience for others. And what better resource than the minds of 10 of the best money bloggers (at least for this past month). Our money tips include saving money, financial concepts, life lessons, and more.

Money Tips

Tip #1 – Make it inconvenient to spend your money

David, at recently wrote in his article, Kicking the 30 Day Spending Rule Up a Notch, that he takes the 30-day waiting period before making a purchase to a new level. You know the rule, “wait 30 days before you spend money on a purchase.” The point of the rule is that after 30 days, you probably realize you didn’t need it. If you still need it after 30 days, then go ahead and make the purchase.

In order to add a twist to the rule, how about paying someone else the amount when you want to buy a product?


It’s inconvenient, but that is his point! (In his example, he paid the money to his wife – I would not recommend using someone that cannot be trusted with your money!) Make it inconvenient. That little bit of discomfort may be just enough to prevent you from making the purchase.

Tip #2 – Set goals as a couple

Amy Freeman, in the article 6 Common Money Arguments Between Couples and How to Deal With Them, posted on Money Crashers, mentions that saving habits are one of those things that can lead to arguments among couples. The solution?

According to her:

Sitting down with your partner and making a list of goals can help you both…

Amy, Money Crashers

That’s right. Set some common goals together. It’s easier to get on the same page about your savings habits when you have common goals – or even just goals you agree to achieve together. This way you won’t be “sacrificing,” but rather “saving for something better.”

Tip #3 – Don’t waste your money on your car

Jacob, in the article 20 Reasons Why We Still Drive a 20 Year Old Car, posted on CashCowCouple, that he and his wife still share a car – and it is on that is very old and they have had it for a long time. He explains several reasons why this works for them and reasons to own an older car. In his words, while speaking of his old car that he refers to as the Green Machine,

I know someday I’ll have to move on and find something a little more civilized, but til then, I’ll be rockin’ that Green Machine and stackin’ that money.


He gives multiple reasons why owning older is better, including not having to worry about the occasional stain on the carpet, cheaper insurance, and of course, not having any payments.

Tip #4 – Make spending a conscious activity

Bob, in the article 7 Ways To Control Your Spending, posted on ChristianPF, points out that we have to get our emotions out of the way when it comes to spending. This will allow us to make better spending decisions.

As he puts it:

Emotions have just as much of a role in spending as knowledge does, so getting the emotional side under control will help you put your knowledge to use!

Bob, ChristianPF

Tip #5 – Review Your Credit Report 

Lori Kelley, in the article Six Useful Things to Look for When You Read Your Credit Report posted on, mentions one of the things she looks for is information about new accounts. She says by reading this section, she can assess whether anyone else has tried to open new accounts in her name. It is a great way to either prevent, or quickly combat identity theft before things get too far out of hand.

As she says:

I like to use this information to prevent problems with identity fraud that make obtaining new sources of credit difficult.

Lori, PFAdvice

Tip #6 – Being broke is about access to money

Dr. Beard, in the post Being Broke Sucks, posted on Beards and Money, points out that being broke basically means not having access to your money. While he has cash, due to some fraud issues, he was overseas without access to any of his money. This made hime take a second look at his approach to personal finance and how most of us live. His rather simple advice is pretty straightforward. 

In his words:

Stop spending all of your money!

Dr. Beard, Beards and Money

He further emphasizes that the way to not go broke is not spend all of your money! Nobody likes to be broke. That’s why we read articles and post about money. To get the right tips, knowledge and skills to owe less, spend smart, and earn more 🙂

Turn Your Debt into Dollars

Tip #7 – Get your actual FICO credit score for free

Jonathan Ping, in the article Free FICO Score For Everyone via CreditScoreCard, No Credit Card Required, posted on explains a new service from Discover that allows you to get access to your actual FICO score (not these other fake scores out there) without paying a fee and without owning a Discover card. For years we have been warning people about “fake”scores, ones that are not really free, etc. But now it looks like the tide has turned.

So what is the catch? They will share your contact information so that you will start receiving more marketing stuff in the mail, by email, etc. Basically, without cost (money) if you are willing to give up a bit of privacy (in that you will receive more junk mail) you can get your FICO score for free.

In his words:

CreditScoreCard by Discover is one of the first free services I’ve seen that offers a FICO Score without requiring you to be an affiliated credit cardholder. If you already have access to this score model and credit bureau combination through other means, you may not want another entity to have access to your personal data. If you don’t, you may find this a very reasonable way to get free access to your Experian FICO 8 score.

Jonathan Ping, My Money Blog

Tip #8 – Don’t get a divorce

J. Money, in the sarcastic article The 7 Most Mind-Blowing Ways to Save Money E-V-E-R, mentions that divorces are expensive – and cost way more than the financial benefits of marriage in the first place. Apparently, some people get married to save money on rent, etc. Not a good reason to get married!

While the entire post was written as a sarcastic take on advice, I thought this one tip was worth sharing. In his words,

I see this mistake the most – people getting married specifically to save money on rent and food, and thus forgetting to take into account personalities and dreams and God forbid heart. I know it takes time to figure these parts out, but you HAVE to find “the one” if you’re going to build your wealth over time. Even if it costs your health or well-being or if you end up hating them over the years. You cannot risk losing 50% of all your bounty!

J. Money, Budgets are Sexy

Tip #9 – Make it Fun to Pay off Debt

Maria Nedeva, in the article 5 Surefire Ways to Become Debt Free Fast, posted on Enemy of Debt, explains that while she was paying off over $160,000 of consumer debt, she made it fun. It’s difficult to stick with any program if you are miserable while doing it. Why do you think so many people quit going to the gym after 3 weeks? It’s not fun for them.

She suggests:

Mak[e] it a game – For example, mak[e] a list of three course dinners for under [a] certain cost per person; or test whether you can start a ‘side hustle’. You have to keep it light though – whether you play or see yourself as starting a business the outcome can be the same.

Maria Nedeva,


Tip #10 – Know that car buying is a game 

Bill Pratt (yes, that’s me), in the article 20 Tips to Buy a Used Car posted on our site, The Money Professors, points out that when you purchase a car, you are actually playing a game with the dealer. The difference is that the dealer has training and practice, and you are just walking in off the street with no real idea what you are doing. Think of yourself as the person at the carnival with your cotton candy in hand. You walk up to the booth and try to toss the ball into the basket. They make it look so easy, but $20 and 10 tries later, you walk away with nothing but frustration and cotton candy on your fingers. That is a game and so is car buying.

I couldn’t have said it better than this:

Understand that you are playing a game with someone who has practiced, rehearsed, and been coached. You just showed up. Chances are they are better than you – simply because they have been practicing for a while.

Bill Pratt, The Money Professors

The point is that you have to do your research and understand all the tactics that will be used against you. This way you stand a chance of winning this game and taking home the big prize – a great deal on the right car.

So there you have it. Top 10 money tips from various sources from around the web. Don’t forget to share this post and/or leave a comment with some of your favorite money tips. For more money tips see last month’s Top 10 Money Tips!

If you are a writer and would like to have your tips considered for our monthly top 10 money tips, please email the link to your article and if we find a tip we like, we will include it. Email us: info [at] themoneyprofessors [dotcom].

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The three authors, Bill Pratt, Mark C. Weitzel, and Len Rhodes, are industry leaders in personal financial education. Together, they have a combined 75 years of experience in banking, economics, and entrepreneurship. Now, they teach thousands of students personal finance concepts and decision making skills, author textbooks and public press books on personal finance, and help schools develop innovative personal finance literacy programs. Recently, they were instrumental in developing a personal financial management certification program for leaders in higher education. The other books in The Money Professor series include The Graduate’s Guide to Life and Money and Extra Credit: The 7 Things Every College Student Needs to Know about Credit, Debt & Ca$h. Their books, lectures, and programs give students, parents, and educators the tools and knowledge to make good financial decisions all their lives.

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