Check out the 5 financial tips for the third week of July 2013.

Tip no 1: Bid goodbye to useless splurges. Welcome a new frugal life to survive amidst the twist and turns in your financial life.

Don't waste your money on useless things. Money doesn't come easily into your pocket. Moreover, you need it to face the financial twist and turns. So, embrace a frugal lifestyle and save money.

Leading a frugal lifestyle is not difficult. All you need to do is find a cheaper way to lead your life. For instance: ask a kid to mow your lawn instead of getting the job done by a professional lawn service. Color your hair on your own. You can even skip coloring your hair. You don't need to color your hair in order to survive in this world.

Tip no 2: Create a joint 'financial dream list' after taking the wedding vows.

Sit with your spouse and discuss about your financial aspirations. Find out what's there in your spouse's wish list. Next, tell what you want to have in your life. Once both of you have discussed about monetary goals, create a joint 'financial dream list' together. Work with your spouse so that both of you can fulfill the dreams. It won't be easy. You'll have to set priorities and change spending habits. You may have to make a lot of sacrifices, but at the end of the day, this will help you understand your spouse in a better way. Most importantly, this will help you avoid financial disputes.

Tip no 3: Talk about the spending habits soon after getting married. This will help to prolong your marital bliss.

Discuss about your spending habits with your spouse in the early days of your marriage. The root of the marital problems is often based upon the differences in the spending habits of both the partners. The differences in the spending habits can prevent couples from fulfilling their financial dreams. This can ruin the marital bliss and happiness completely. For instance: if one partner saves money and the other one continues to spend money recklessly, then the couple may not be able to purchase a house, stuff cash into the retirement fund, admit children into good colleges, etc. If one partner believes that he/she is unable to achieve financial goals due to the other partner's spending habits, then bitterness is likely to enter into the relationship.

Tip no 4: A good way to venture into the stock market is to buy a stock of the company you're familiar with.

A smart way to invest in the stock market is to purchase shares of the companies you're familiar with. For instance: if you use Apple products, then purchase the stock of this company. Invest a small amount initially. Buy one or 2 stocks first. When you start understanding the market dynamics and become confident, you can focus on serious investments. You can buy more stocks of the same company (if it is giving you a good return on your money) or you can purchase stocks of a new company.

Tip no 5: Purchase a wedding insurance to avoid getting a financial setback when something unexpected occurs.

Most of the people don't give any importance to wedding insurance. However, there's a valid reason why people should give a preference to it. This is because, a wedding insurance reimburses you when any unexpected thing cancels or defers your wedding. For instance: you may have to defer your wedding for several months due to your health related problems or any other issues. For instance: the photographer may have vanished completely without even returning your money. You might have already paid thousands dollars to the photographer. It'll be a pity to lose such a huge amount of money. Wedding insurance policies give you protection in these kinds of circumstances. You'll get reimbursement from the insurance company.