Savings can help you achieve any financial goal. Whether it’s a comfortable retirement, a deposit for a house, or a new car or stereo, you can get there by setting money aside. And best of all, you can have what you want without getting bogged down in debt.
But if you’re like most people, you don’t save as much as you’d like. Or you don’t save at all. We often spend more than we earn. Today’s high energy, home and food prices may make saving seem less possible than ever. But the time is now. And with a little forethought and effort, saving money is not only possible, it’s easy.
You’ll be more likely to save money if you make it a priority. Sit down and figure out what you’d like to save money for – retirement, a house, car, dream holiday – and how much it will cost. Then make your plan:
While it may seem difficult sometimes just to make ends meet, chances are you have extra money you didn’t even know about. Here are some ways to find it:
You’re probably inclined to pay everyone else first – whether it’s your landlord or your grocer or the electricity company. But it’s vital to start paying yourself first by saving money. Once you’ve made a contribution to your financial longevity and well-being, then you can divide up your money to cover everything else. Don’t worry. You’ll more than likely have plenty left over to cover everything you need.
In fact, most banks make this easier. You can ask them to automatically transfer funds to a special savings account.