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Money in the News: Prepare for 2012, College Paid with Paperboy Salary, Resource Alert: Free Education, Latest Scams, Wasted Bridal Gowns posts about five tips to financially prepare for the new year.

Monthly Bills: Take a look at your monthly bills to see if there are services you don’t want or need. In particular, consider a cheaper cable TV package or a cheaper cell phone plan. If you are currently paying for home telephone service, consider eliminating your landline altogether. Reducing these bills by just a few dollars per month will really add up over the course of a year.

DailyFinance posts about how one guy paid for college on a paperboys salary.

By 12, I increased my earning potential when I got a regular route as a paperboy that had me rising (sleepily) at 5 a.m. seven days a week. At that age, the $250 a month I earned was a fortune — one that could have bought lots of baseball cards, candy, or games at the arcade. But every month before I got the chance to waste it, $200 went straight into a Fidelity mutual fund for the sole purpose of saving for college.

During the next six years, I invested about $14,000 in that college savings account and watched my money grow to more than $20,000 by the time I graduated high school.

Resource Alert! Lifehacker posts a list of free online education sites and courses.

[View All Resource Alerts]

DailyFinance posts about the latest 2012 con artists scams.

In order to protect yourself and your financial Fort Knox from the bad guys, you must first know what to watch out for. So here are some highlights from scams that made the rounds in 2011 — and will likely be back in some form or another this year.

The Consumerist posts about how one company ruined thousands of dollars in wedding dresses on purpose.

David’s Bridal claims that the gowns, most of which retailed for more than your first car, couldn’t be donated due to contractual obligations to high-end designers. Worried about the “brand dilution,” the suppliers don’t want their brand-new gowns filling a thrift store rack, or, evidently, being worn by poor people.

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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