As you go through life, you’ll be called upon to make hundreds—if not thousands—of financial decisions. Establishing a checking account, saving money for college, moving to a new apartment, changing jobs, buying a home: all of these will require you to possess knowledge about how to approach each situation.

 More specifically, it will require you to take certain risks in order to reap certain rewards, and the more informed a consumer you are the better decisions you’ll make.

 If you ask senior citizens what their largest financial regret is, they’re likely to tell you that it is the failure to save for retirement while they were younger. With the economy the way it is today, healthy seniors are having a tough time finding even part-time jobs, and are consequently having to deplete what little savings they have accumulated.  In worst case scenarios, they end up either having to sell their homes and rent a cheaper apartment or losing them to foreclosure.

 To avoid this situation, a strategic savings plan is an absolute must.  Even though you may be unable to contribute generously to it, try to add small amounts to it regularly.  One very effective way to do this is collect your loose change every night and deposit it in your piggy bank at the end of each month. You’ll be surprised at how quickly it can accumulate over time.

 Another technique is to curb your spending habits, which is, of course, easier said than done. Quite simply, if you’re accustomed to going to the movies every weekend, simply skip every other weekend and put your money in your fund.  If your favorite activity is eating out at a restaurant, look for a less expensive establishment to patronize and put away the money you saved in so doing.