1. Try a new income source
This is going to be different for everyone, as everyone has different schedules, situations, free time, etc. Also, I don't mean you should go out and get a second job. A second job is just a second rat race shift. It won't stimulate your mind, and it won't make you happy. Find something you're passionate about, or something you enjoy doing. For example, I have been trying to sell extra items around the house on Ebay. So far, I have absolutely enjoyed it. I made some extra money for Christmas, and got rid of some stuff I don't need (like that exercise bike I used once in 2005). It's also very interesting and funny to see what people will actually buy. (I currently have huge inflatable dice listed that someone gave me as a joke gift. I'll keep you posted...) If you enjoy making things with your hands, try to make something that could sell at a profit. If you enjoy writing, try starting a blog (yes, I love doing this). Find something that isn't work to you, and see if you can turn it into income. At the very least, you'll learn something, and you will have stimulated your mind.
2. Open an Etrade account
I'll start this off by saying PLEASE START SMALL. It's always dangerous to recommend to inexperienced listeners that they should start trading stock. My goal here is that you put some disposable income (not much to start) at stake. If you know nothing about the market, this will force you to start paying attention. When you have a stake in something, it makes it much more interesting. It's like horse racing. I could care less about horse racing, unless I have money riding on it. You'll start learning about markets, ETFs, dividends, capital gains, taxes, etc. Now the market won't intimidate you anymore. Don't be scared of losing either. I lost a lot of money this year (which is why I don't blog about which stocks to buy), but that hasn't changed my mind one bit. You don't weigh in, you don't wrestle.
3. Open a Mint.com account
Mint.com links to all your bank accounts, credit cards, loans, mortgages, etc, to show you where you are spending your money, and what your current net worth is. That sounds scary I'm sure, but thousands of people are using it, and it's been secure so far.
It's hard to patch a leak if you don't know where it is. Mint.com will break all your expenses down, and show you how much you spend on groceries, eating out, bars, etc. You'll likely be very surprised at how much you spend on certain things. You can get started here.
4. Opening a savings account with direct deposit
I wrote on an earlier post that your savings account should be in a different account than your checking. This way you won't see it every time you check on your checking account online. Hopefully that keeps you from using it to buy a new TV, upgrade to Iphone 48s, or bad investments like a autographed Tim Tebow jersey. Set your direct deposit up so that about 5-10% of your paycheck goes into your savings, so that the money is like taxes. What you never had, you won't miss. Cover, and let simmer.
5. Start a Roth IRA
I doubt most people realize how easy this is. I'll tell you. It's as easy as starting a new bank account online. When people want your business, they usually make the process very simple. You can start a Roth IRA at most online stock trading sites, or at most banks. To simplify a Roth IRA, think of it as a magic bucket that you can add a max of $5000 to each year (you can still add money under 2011 until 4/17/2012). Once the money is in the magic bucket, you can buy stocks, bonds, mutual funds, and even a house if you have enough. The magic is that all these things that you buy will grow TAX FREE. That means that all your gains will not be taxed. That includes capital gains, dividends, whatever. The only stipulation is that you can't draw from it without penalties until you are 59.5 years old. You can learn more on Roth IRAs here.
Of course, if you believe the world is ending in 2012, then disregard this post.
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