Money Talk Matters

What does it mean to save? Does it mean that you put money away one time a year? Do you put money into a bank once a month every month? Do you put away a certain percentage every time you get paid? What does saving mean and what does it mean to you?

Saving is not meaning in this aspect to rescue a person. Savings means funds put by as a reserve for whatever reason. Regardless of your financial situation, one of the goals you should have is to have a savings account with a certain amount of money in it.

What does saving mean to you? For me savings mean having that reserve for emergencies, having a fund that can sit there and not touch but grow repeatedly as I continue to put money in the account. I think one aspect of saving that would make it easy for people is to have an automatic deduction coming out of your checking account that goes into a savings account. Why? Because then you will not miss that money.

Let’s say for example, you had one bill that you had to pay off and then you would not have any other bills. Why not take the money you were paying on the bill and put it directly into your savings! Since you were used to taking that money and paying on a bill, why not turn around and pay yourself. Ahhhh! What a concept. Don’t take that money back into your wallet that you spend. Why not build up your savings even more by putting that money aside in addition to what you were already doing.

If you do an automatic deduction every time you get paid, then you have already made your decision. This can be different for each person because you have to look at various factors: employment – are you working for someone else or do you work for yourself; do you have a lot of bills and have not figured out what you can do without in order to save; or have you established a certain time within your financial plan for 2010  that you will begin saving? Whichever answer it is, all I want to say is BEGIN.

Go to America Saves and sign up. They are a resource that also acts as an accountability person that encourages you with various email messages. Begin your savings plan today!