Expenses and fees, such as late payment fees are the killer of any savings strategy. On average the American Public now saves zero percent of the income they earn. Pulling out of this current economic meltdown will require additional savings – somewhere in the region of 20%! The first step in planning for long-term goals and an immediate savings action plan is actually determining how much you spend on short-term expenses. Once you know how much money is spent on the here-and-now, you can assess how much money can be put into investment and saving vehicles for the future.

Regular monthly expenses such as cable or cell phone bills should be easy to assess, but what about interest fees, over the limit fees and late payment fees? These non-budgeted expenses are usually the hidden component of short-term expenses that sap dry what little savings you may potentially have. In fact an effective savings plan really comes down to better money management, not the need for more income. As is commonly said, it is all in the details. A single late payment fee per month could be the equivalent of a child’s education fund over the course of 20 years.

Speedy Cash can help with short-term money management and help you keep more of your hard earned income each month. For good money management you need tools. Access to credit, financing solutions and short-term cash advances can help. Online and in-store solutions from Speedy Cash provide you instant access to cash so that you can save fees, consolidate expenses, simplify bill-payments, pay down high interest credit and get back control of your finances. Three in five households in the U.S. now have high-speed internet access and online payday loan applications can simplify the ability to save these costly fees before your are charged for them. Like any good plan that is worth executing, proper money management takes time and effort, but a single bounced check fee of $45/month could save you over $540 on an annual basis.

Analyze your credit card limits and annual percentage rates. Call each credit card company and ask them to lower your interest rate and if possible increase your credit limit. Then try to consolidate all your balances onto the lowest rate credit card. On a short-term basis, drive less, don’t buy that expensive gourmet coffee, snack, lunch, music CD or clothing item. Short-term pain to pay down any remnant balances on credit cards or bills that were not consolidated should be your main focus for 3 months. Have a yard sale, list some items on Ebay and find some additional ways to make a few more dollars each month from side jobs.

The elimination of fees, the simplification of your debt onto one loan vehicle like a credit card and the use of cash advance systems so that you do not get charged additional fees are your first steps to good money management and the fulfillment of a real savings plan.

Most of us already have the money needed for a savings plan. We just need to be more proactive to eliminate the useless fees and stay on top of the expenses. The goal is to determine if the amount of money that you have remaining after paying your short-term expenses will allow you to meet your savings goal. It's important to regularly update the status of you long-term goals and short-term expenses. 2009 is the year for all Americans to reassess their financial situation, get control of their debt and the fees associated with that debt, find tools to help reduce fees and simplify the process of managing their cash flow. These measures will have multiple rewards for each individual, but also for our nation as a whole.