All The Simple Dollar

Signing up for automatic payments on student loans can reduce the chances of messing up something important for young people who are relatively inexperienced with managing their finances. What's more, it can actually reduce the amount you have to pay back on student loans over the long haul. 

In many cases, generic products are identical to name brands at a considerably lower price. But in some cases, stick to brands you can trust.

Lots of stores will encourage you to sign up for their store credit card, usually with the incentive of a big, one-time discount. But there are several reasons not to sign up.

401(k) savings defer taxes and can fund second retirement phase for high earner who wants to retire at 45. See question No. 2 in the reader mailbag for 401(k) discussion. 

It's easy to miss out on credit card rewards, or get into a routine. Here's how you can find cards where the rewards actually do work for you. 

Forget those goofy commercials. You can get your credit report (really) for free from the federal government. When you get it, it’s important to make sure that the information on your credit report is accurate and represents a good picture of your financial history.

Constructing a debt repayment plan is the single strongest step to take to achieve freedom from debt, according to Hamm. 

All too often, debt is an unbreakable cycle. Splurging after getting debt under control only continues that cycle.

Calling your credit card company to negotiate a lower interest rate may be a good step towards getting out of credit card debt, Hamm argues. 

A credit union is a very useful tool for someone who is trying to get their debt load under control. Don’t neglect to use it.

Student loans have variable interest rates, but they're low now. So concentrate first on an emergency fund. See question No. 4 in the reader mailbag.

The most painful part of debt is the interest, which can be crushing. Refinancing to reduce interest rates can make a world of difference.

Hiding from your debt won't help. Here's the first step towards breaking out of the debt cycle. 

401(k) plans sometimes allow you to borrow from them. So are 401(k) plans a good way to save for buying a home? Question No. 6 in this reader mailbag.

There are plenty of good reasons to move. But if one of them is having more space for your stuff, maybe you should reconsider.

Everyone wishes they could have it all. How do we really become content with the financial decisions we need to make?

Catalogs are loaded with items you don't need, and they're very good at convincing you to buy such items. Send them straight to the trash.

Everyone wants to know how much money they need to save for retirement. When planning, don't forget to account for inflation and fluctuations in investment returns, Hamm says. 

We all have collections of clothes, books, DVDs. Following the management rule of "one in, one out" can help keep things under control. 

Borrowing seldom-used items in lieu of buying them will save you money and space. It's also a good way to get to know your neighbors.