That One Simple WordSavings
When you hear that one, simple word, do you feel a deep sense of guilt? Of course you do we all do. That is because, like most Americans, 75% of respondents said they knew that their savings, targeted for retirement, were insufficient.
Thats cause for distress, perhaps, but not nearly as remarkable as the discovery that how much you save now has very little to do with how rich you are, today. This is so true in fact, that the middle-income earners managed to save less than the lower-income earners in that same study. Now this is remarkable when you think about it. Those with less saved more! What is the secret to their savings success?
For those of us who scrimp and save endlessly and with so little to show for it, these statistics are both annoying and embarrassing! It also means you have no excuse for inadequate savings.
The bottom line here is this: You just have to save, regardless! That means for every you earn, you MUST sock away at least in savings. Does not sound to be too difficult, right? WRONG!
UNLESS you have an iron clad savings plan, you will not save a single red cent! The trick is in the purpose and the plan!
As you sit, stunned and you ponder an exit strategy you receive a friendly letter from the IRS explaining that you miscalculated your taxes in 1996, and they now own your house.
Truman Financial Emergency Cash
Depending on the size of your mortgage, this could be adding hundreds of dollars to your mortgage cost annually.
You are all you have. Buy fuel on cold days and if you can, drive on the hot days. For an even more serious approach, consider nixing your car if you live in the city. Pay attention to potential income Perhaps you have had a hobby for years but have never considered it as a money earner.
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