Financial Planning Tip This is the first week of the New Year and a large number of Americans are struggling to pay their bills due to the Christmas holiday and overspending of money they did not have to spend. Christmas comes the same time every year and every year the same cycle is repeated. This is the beginning of the year why not start by establishing a budget and savings plan for what you know is coming. If you know saving is a struggle for you start with the following to help you get started: 1. Open an account with a credit union that would be an inconvenience to access during normal business hours. This would help you to not have easy access to your funds until you can establish discipline. 2. Do not request an ATM card. 3. Setup automatic withdrawals from your paycheck. 3. Start small by saving $50 per pay period. Make quarterly increases (3 months) or sooner if your budget permits. The goal is to reach $250 or more per month. Please note: If something always seem to come up and you continue to pull from your savings that is not a savings plan that is a crutch you use when you have not stuck to your budget and over spent in other areas. Make the sacrifice and do better so that you will have better. 2015 the year of increase! Lets make it count!
Posted on: Wed, 07 Jan 2015 15:52:17 +0000
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