Check out the 5 financial tips for the 2nd week of April 2012.

Tip no 1 - It's high time you refinance your mortgages as the rates are still record low.

It seems that the housing market has not yet recovered from the after effects of sub-prime mortgage crisis. The mortgage rates are still very low. In fact, the interest rate on a 30 year fixed-rate mortgage is 3.92%. The rate on the 15 year fixed rate mortgage is 3.15%. So, if you're paying 5% interest rate on your current mortgage, then you can easily refinance it with a new loan. This will enable you to save nearly1.08% on the interest. Start looking for a prospective lender and refinance your mortgage as soon as possible.

Tip no 2 - Invest in annuities to secure a post-retirement source of income.

If you want to live your retirement years without any financial worries, then start investing in annuities from an early age. In annuities, you make payments to an insurance company (from where you're buying the annuity) every year. You pay the premiums to the company for a certain number of years. Once the premium is completely paid, you'll get a stream of payments from the insurance company post retirement.

Annuities are of various types - immediate and deferred. You need to gather information on each of them before making any investment.

Tip no 3 - While couponing try to stay organized so that you do not miss a deal that is worth it.

This is a great tip. Like most people, you must be collecting coupons at the end of every week. You keep some coupons in your cabinets, files, folders, etc. However, as the coupons start piling up, you find it very difficult to manage them. You lose some coupons in the process. Due to this reason, it is very important to stay organized when you’re handling coupons. You can create a file especially for the coupons. You can keep all the coupons in that file. Keep the file in a place where your kids don't normally go.

Tip no 4 - Take baby steps to meet financial goals.

Every individual sets financial goals for himself. He wants to achieve these financial goals at some point in life. However, there are a few individuals who desire to attain their goals within a short period of time, which is very difficult. However, this is not impossible all together.

If you want to fulfill your financial goals, then it is important to take small steps toward them. You'll have to make a plan and take steps accordingly. For instance, if you want to earn $1000 within the next 6 months, then you'll have to take certain steps. You'll have to work for some extra hours and invest in high yielding stocks.

Tip no 5 - Take advantage of discounts available and purchase mostly during that time.

Do you love to shop till you drop? Do you have regular fights with your spouse because of your love for shopping? If yes, then you can hardly blame your spouse. The cost of living is quite high and as such your spouse wouldn't like you to waste money.

If you really can't live without shopping, then use some tricks to become a savvy shopper. This will help you save dollars. For instance, you can take advantage of the discounts and shop only during that specific time period. This will help you get the products at a low price.