Saving for Tomorrow & Beyond,
When You're Worried About Today
From that first savings account where every dollar matters, to saving for a home or retirement, building your savings is worth the effort. It can provide you with peace of mind and a variety of financial options along the way. Simply put, the more you save today, the easier it will become to continue saving throughout the years. You may be thinking it’s tough to save for the future, and you’re right, but with hard work and dedication your retirement plan could be laid out in no time! Below you’ll find some helpful ways to manage your money and maximize your dollars to benefit you in the long run.
Automate Your Savings. Whether it’s for the present or future, a vital part of saving is to have a plan in place that will automate the process. Take advantage of any direct deposit options and designate a certain percentage of each pay to go directly into your savings account. Imagine as if that money doesn’t exist! Most important: don’t spend it and keep on saving.
Don’t Fear the Unexpected. Plan for It. Emergencies happen, often times unplanned. That’s why it’s important to be prepared. Having funds available in a designated account can relieve a large amount of stress and worry when it comes to paying for that unplanned expense. This can be extremely helpful in not having to use your credit card and avoiding high-interest rate debt.
Assess Current Debt. When's the last time you've taken a look at your outstanding debt? Did you put a large unexpected expense on a high-interest credit card, and are still paying for it? Has your credit score improved since you first took out your loan? Decreasing your monthly payments can free up extra money to more quickly pay down debt or apply to your savings plan. Let's us help provide you with a free Credit Review. It could mean up to an extra $100 in cash incentives to help you get started on your savings!
Take Advantage of Matching Contributions. One of the most important strategies of retirement saving and planning is maximizing your employer’s 401(k) plan match. Why not take advantage of free money you receive from your employer after you make pre-tax contributions to your retirement plan from your paycheck? It's likely you'll hardly notice the difference in your take home pay.
Don’t be Afraid to Seek Expert Advice. Building and maintaining wealth is a key component for achieving your financial goals. For many, understanding every aspect of personal finance and making significant financial decisions can be overwhelming. Whether you have significant assets to manage—or if you are just starting to accumulate wealth—working with a knowledgeable professional is key.
From now until retirement, a lot can and will happen. You may lose your job, your pay may increase or decrease, or you could become disabled and unable to work. Analyzing your financial situation now to make plans for the future is one of the best things you can do with your hard-earned money. Schedule an appointment to talk to a Financial Success Specialist today. It’s not always going to be easy to save money, but together we can make a plan.