Here are the 5 financial tips for the second week of 2014.

Several changes are expected to come in the 529 plans. Most of the notable educational institutions offer financial aid benefits and tax-free growth on funds. However, each institution has different fees and state tax incentives.

In some states, 529 plans will go through remarkable changes. For instance, Pennsylvania has decided to reduce fees in its 529 plans. On the other hand, Wisconsin is contemplating to raise the state tax incentives.

If you're planning to open a 529 plan, then make sure you read the fine print section carefully. Know about the fee structure and tax incentives in details first. Do comparison shopping to save money.

Good marketing strategies and smart advertisements can induce you to buy a certain product from the store, even when there is no need. For instance, you like a commercial on a baseball. You love the commercial so much that you're tempted to buy it from the nearest store, even though you don't play baseball. This means you're simply wasting your money.

Lots of money are spent on marketing. This doesn't mean that you should let yourself become a victim of marketing and buy a product. Rather, you should make it a point to buy a product only when you really need it.

Are you expecting to receive a huge amount from the tax refund? If yes, then there are a few things that you must do with the money. For instance, you can fulfill your New Year's Resolution to pay down debt.

If you're not in debt, then you can use the money for other constructive purposes. You can repair your home. For example, you can give a new look to your bathroom or kitchen. You can even use the money to boost your emergency fund or savings account. This may help you to fulfill your various financial goals in 2014.

Budget can help you lead a fantastic financial life through smart spending habits and rigorous discipline. It is little difficult to maintain such a discipline for the first few days. However, if you're able to follow it and modify your spending habits accordingly, then your financial life will only become bigger and better.

Don't hate budget. Don't treat it as an uninvited guest in your life. Consider it as your friend so that you can save money and lead a healthy financial life.

Believe it or not, there are loads of ways to save money for college. For instance, you can get a job at high school. You can study at a community college instead of a costly one. Other than that, try to get admitted to a in state college. This would help you save a lot on the boarding expenses and transportation cost. Make sure you apply for scholarships from the very beginning. This may help you and your family to save money on college expenses as well.

Try to save money and incur less debts during the college life. You can have fun throughout your life. If you focus only on having fun during the college, then you may have to lament for the rest of your life.