The 5 Financial tips for the first week of September 2012 are given below.

Tip no 1 - Save a considerable amount from your income every month so as to keep your future secured.

You can never know what's there in your future. You can't change your fate but you can take certain steps to keep it little bit secured. For instance, you can build a financial cushion to fall back upon during the untoward situation. However, it is not an easy task to create a financial cushion. You need to save money every month to build a robust emergency fund.

You'll have to set aside an amount from your paycheck each month. You can do so through an automatic savings plan. Talk with your banker and set up this plan as soon as possible.

Tip no 2 - Talk with various mortgage lenders before locking your option to a particular home loan.

A home loan helps you purchase a house and live in it. However, this very home loan can make you lose your precious abode. So, you need to be very cautious while taking out a home loan. Talk with different mortgage lenders to find out what they are offering to you. Find out who is making the best offer. Use a mortgage calculator to calculate how much you need to pay on different mortgage loans. Sit quietly and think if you can afford the payments. If you can afford the monthly payments on loan A but not on B, then a wise decision will be to opt for the first one. Take out a loan from the lender who charges low interest rate on it.

Tip no 3 - Sit down with your spouse and decide how much both of you should spend every month in order to increase your savings.

If you're determined to meet your financial goals, then sit down with your spouse and discuss about the ways to achieve them. For instance, both of you want to buy a new house in future. You'll have to save a good amount for purchasing the house. You'll be able to save a certain amount every month through careful spending. Talk with your spouse regarding how much both of you spend in every month. Locate the areas where you should stop spending money. For example: both of you can stop purchasing clothes every month. You can stop going to restaurants for having dinners too.

Tip no 4 - Purchase adequate insurance to keep your children secured.

If you love your children, then don't waste your money on costly video games or clothes. Instead use the money to purchase adequate insurance to keep them secured in your absence. Purchase a life insurance policy to take care of their needs when you're no longer there in this world. Make your children the beneficiary of the life insurance policy. This way they'll get money after you have migrated to god's haven. Consult an insurance broker to know about the various insurance policies. Discuss your needs and requirements with the insurance planner. He may help you make the best decision.

Tip no 5 - Increase your commercial credit score to obtain funds for your business.

If you want to qualify for low cost business loans, then try to improve your commercial credit score. Keep it in mind that an impeccable commercial credit score can help you get funds purely on the basis of your business assets. You won't be required to pledge your personal assets as collateral against the loan. One tip to improve your commercial credit score is to keep your creditors happy by making timely bill payments. The other important financial tip will be to solve the problems on your commercial credit report. Check your credit report from time to time and ensure that everything is reported correctly.