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Tag Archives: retirement savings

Savings Advice I Would Give to My Friends

As a reformed over spender, I now realize the value of having back up savings and being free of consumer debt. Without money set aside, I might be forced to use credit cards in an emergency. Sometimes the personal finance geek inside of me wants to shout the virtues of saving money from the rooftops. Because that isn’t an option (I’m really clumsy), I’ll have to resort to simply sharing savings advice I would give my friends. Get An Emergency Fund If saving six to eight months of emergency money sounds impossible, start small. Get an easy access savings account and make it a goal to save $100. Anyone can save $100. Some ways to do this could be to stop smoking, drinking, or gambling, stop getting manicures, don’t  go out to eat for a couple of months, take your lunch to work, or cancel your cable. If you can sit down and figure out where all of your money is going, there is probably something you can change to keep more in your pocket. After you have the first $100, aim for $500. Then, increase the amount until you have a number that lets you sleep well at night.

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Get Your Finances on Track for the New Year and a $100 Giveaway

Happy New Year!  Another holiday season has come and gone. Hopefully you aren’t in a cold sweat waiting for this month’s credit card bill!  One nice thing about a new year is the opportunity it brings for change if you aren’t where you would like to be with your finances.  What would you like to accomplish this year? Pay off debt, save for an emergency fund, stop living paycheck to paycheck, save for retirement? Maybe you had a great 2012 and want to continue on the same path.  January is a great month for taking a look at your finances and making plans for upcoming year. What Are Your Goals? Goals kind of get changed or forgotten if no one knows what they are. Take some time to put down what you would like to accomplish this year. I like to have some goals that I know I can accomplish with a little effort and some stretch goals to really try my hardest.  An easy goal might be to save $50 a month toward an emergency fund or to put toward debt. A stretch goal might be to pay off all credit card debt by the end of the year. ...

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