The type of expenses that you should plan for, will include your rent or mortgage payment, groceries, utilities and any other expense that you must pay. This would include the premiums for your homeowners insurance, life insurance and disability insurance. If you have an auto loan, make sure that you take into account that monthly payment.

Savings account are ideal vehicles for this money because the value cannot go below the amount that you have deposited and you have access to your money immediately. There are other investments that may offer a higher return but do not offer you the safety of principal and the immediate access to your money. Where do you find the best savings account? You may find one at your local bank or credit union. You may also look online and open a savings account with a financial institution that is far away, as long as you are able to link the savings account to your regular checking account.

The Federal Depositors Insurance Corporation, better known as the FDIC will insure your savings account for up to $250,000 as long as the account is at a member bank. The National Credit Union Share Insurance Fund offers the same protection to savers with an account at a member credit union. The best savings account is the one that has your name on it!

- Since flowers will account for 8% of your overall wedding cost, you can cut down by doing the arrangements yourself, or share decorating costs with other brides at catering halls, since they usually use the same decoration for several brides, but charge them separately. Also, pick the flower that is in season since it is cheaper. Try to avoid Mother’s Day, Valentines Day, and other holidays when flowers are in high demand.

- Since the wedding attire is 10% of your overall wedding costs, it is good to consider renting a dress or tuxedo to cut down on expenses. Check out department sales and shop around, or if you are having your dress made, choose cheaper fabrics. After all, you will wear that dress only once.

People with all different income levels live beyond their means, they spend more each month than what they make. Then to make up for the extra money they need to get by until the next check, many depend on credit cards. And, they keep burying themselves deeper in debt.

The main trick to staying out of debt and accumulating a nice little savings at the same time, is to live below your means. Too many people get caught up in the need to keep up appearances. They have to have the newest technology, the newest cars and the most expensive clothes.

The result is that they end up stressing over bills, losing sleep and getting in a hole of debt that they can’t get out of. While it’s nice to have nice things, take some time to consider whether you want them bad enough to risk your financial future. Sometimes, just getting out of the habit of buying on impulse can keep you from getting in over your head.