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Success Online Financial Education Newsletter
Money Management International Improving Lives Through Financial Education
SUCCESS NewsletterMay 16 2013 newsletter
10 financial proverbs that are still true today 

financial proverbs

By Jesse Campbell, Copywriter

When I was a kid, every time I left the house my father would tell me to have a good day and advise me against taking any wooden nickels. Because I was an intensely well-behaved child, I tried my best to have a good day and steeled myself against the inevitable temptation of faux wooden currency.

Unfortunately, my dreams of facing down some ill-intentioned cashier (most likely dressed in a black cape and top hat, with an impeccably oiled handlebar mustache) slyly attempting to slip a few wanton wooden five cent pieces into my pile of change never came to be.

Because people don’t actually try to give you wooden nickels. At least not since the Great Depression.

Only later did I realize that “don’t take any wooden nickels” isn’t really something to take literally. It just means that you should be cautious in your dealing, particularly those involving money. Which is a very valid piece of advice, whether you mean it to be or not.

We have quite a few old sayings, proverbs and adages that we’ve all been saying and hearing for years (if not centuries). After a while we stop really hearing them, though, and start to take their meaning for granted. But most wisdom is timeless – and smart money advice is worth hearing in any century. So here are a few great financial proverbs that are just as true today as when they were first uttered...

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Budgeting: Make your money count

budgeting webinar

Budgeting can be an overwhelming process - that's why MMI is hosting a webinar to help make creating and maintaining a healthy budget less scary and totally achievable.

Join us on Monday, May 20th for this free, hour-long, online seminar.  We'll help you assess your financial situation, set reasonable goals, and create a saving and spending plan that works for you!

register now

Tale of Two Saras

A Tale of Two Saras

There are a lot of different ways to deal with debt.

How you choose to handle your debt can have a big impact on your quality of life and your longterm goals.  And the decision of whether or not to ask for help can have the biggest impact of all.

So if you're struggling with debt, consider what you want and where you want to be in five years.  A debt management plan (DMP) could help you reduce debt quickly and have you building towards your goals immediately.

The numbers always tell the story best, though, so be sure to read the article and check out the full-sized infographic to see for yourself!

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Sharpen Your Financial Skills with Online Courses

The goal of our highly trained professionals is to arm you with the knowledge necessary to take control of your financial situation. Our online seminars stress the development of skills that can assure long-term success. Take the first step toward financial wellness by enrolling in a Web seminar today!

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In-Person Workshops Are Also Available In The Following Areas:

Alaska | Arizona | California | Connecticut | Colorado | Idaho | Illinois | Louisiana | Maine | Massachusetts | Mississippi | New Jersey | New Mexico | New York | Oregon | Pennsylvania | Rhode Island | Texas - Fort Worth Area | Texas - Houston Area | Virginia | Greater Washington D.C. | Washington State

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About Money Management International

Money Management International (MMI) is a nonprofit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling, and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan, and repay debts. Counseling is available by appointment in branch offices and 24 hours a day, 7 days a week by telephone and Internet. Services are available in English or Spanish. To learn more, call
866.530.9869 or visit



Money management during deployment

Being deployed and away from home can make paying debt obligations in a timely manner difficult. However, there are some tools available that can help automate your payments and make it easier to keep your good credit history.

Before you deploy or travel abroad, evaluate your banking and brokerage options, and choose one that allows you to pay bills online (preferably for no fee), use a wide variety of ATMs, and view your account online. The best banks for this purpose will have a robust website with a variety of information included. In addition, many banks and brokerage firms offer personalized alerts, where you can have an email or text sent for many situations, including deposits received, checks cleared, and balance below a certain level.

Online bill pay can make paying bills much easier. First, enroll with your bank, and then spend some time setting up the system with each of your bills. You’ll likely find that some of your bills can be paid in an automated fashion, so that the transit time to the payee is quicker, while other bills will have to be paid via a check. The best bill pay systems also allow you to receive bills online. For servicemembers, this is perfect because you won’t have to worry about your bills arriving through the mail late.

When setting up your bill pay, you should be able to set some bills to pay automatically. This is a great idea for any bill that’s a standard dollar amount, such as a mortgage or student loan. You may also want to set the bill pay service to pay your minimum amount on each credit card. Even if you pay off more than the minimum, setting an automated payment will ensure that even if you forget, you won’t get charged late fees or harm your credit.

If you have the option to set up alerts, consider doing so. Setting an alert for a minimum balance amount is a great way to ensure you won’t bounce a check, or have a bill pay fail. While you may never need it, having overdraft protection is good insurance in case you accidentally write a check you don’t have sufficient funds to cover.

Finally, set up a savings or money market account where you can store your emergency fund. Having an adequate savings cushion is essential, so you don’t have to use credit if you are faced with a financial emergency.

While all of these automation options do require some up-front work to set up, ultimately, they will allow you to retain your good credit history while away, and will save you time in the long run.

MMI Debt Management Plan Client Corner
Tips for Success

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Sign up for DepositDirect! It's secure, convenient and easy! Enroll online today!

Update your account balances online. When you receive your creditor statements, update your balances by visiting your MMI account .

If you would like more information about a Debt Management Plan, visit

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