I always say, 'People first, then money, then things.'

If you wait until your children are high school seniors to spring it on them that there's not a whole lot of money for school, they won't have too many options.

Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.

Those carrying a credit card balance should scale back to making the minimum payment each month so they have more money to put into savings.

I get so frustrated when people tell me it's unrealistic to create an eight-month emergency savings fund, or have money saved for a home down payment, or pay off their $5,000 credit card balance.