of whether or not you need it. Money market accounts are great for those who might need to access their savings on little notice; at the same time, you may need to avoid long-term investments like CDs, since there can be a hefty penalty associated with early withdrawal. - Plan for the future. When you get to retirement and are surviving on the bare minimum, it is difficult to handle new bills. Unfortunately, your golden years are when you will likely have more medical bills to pay. Rather than leave it up to fate, invest your money now to ensure a comfortable retirement. You and your financial advisor should work together to determine when you want to retire and how much you'd like to have when that happens. From there, you can build a portfolio that will get you as close to those results as possible. Ads by Google - Don't spend it all. Bonuses and raises are one of the great perks of life, and most people promptly spend them. However, if you can withstand the urge to buy yourself something special and put that extra cash directly into mutual funds, stocks, or even savings, you won't regret it. Multiplying the money you earn will pay off in the long run, whether you need to use it for a down payment on a home, a college education for your kids, or retirement. - Keep track of everything. The main reason we find that there is no money at the end of the month is simply because we don't track it all. When possible, pay with cash. This makes it easier to keep an eye on how you are spending and reduces the possibility of credit card debt. ]