Money in the Bank
You must have money in the bank before you can have peace of mind.
It is absolutely essential.
Nothing else will allow you to sleep better at night than knowing you have set something aside for a rainy day.
Below are the steps to follow for your financial health: 1.
Make saving a priority.
2.
Pay yourself first.
3.
Make saving money automatic.
4.
Balance your checkbook.
5.
Do it now! Let's break this down.
Saving money is not something to be done when you "get around to it".
It must be a priority and you must understand its importance.
Money in the bank changes everything.
Never forget this.
In order to pay yourself first, you must put something in savings before you do anything else.
Do not pay even one bill before you pay yourself.
After all, if you don't pay yourself, who will? Do not fall into the trap of thinking there is not enough money to pay the bills AND yourself.
You MUST pay yourself.
If you can only pay yourself $10 a month, that is a place to start.
However, start with saving 10% of your paycheck if possible.
If not, just start somewhere.
Set up an automatic transfer from your checking account to your savings account.
This can be done monthly, weekly, or bi-weekly.
It is up to you.
By doing this, you will never forget to put money into savings.
It is money that you will never see, so most likely you will not even miss it.
Remember to post all transfers in your transaction register so you will know exactly what is in your account.
Balance your checkbook regularly so that there are no surprises.
It is a good thing to know your exact balance down to the last penny.
This may seem like overkill, but trust me, it is very important.
It could save you some big headaches down the road.
The most important thing is to DO IT NOW! Do not procrastinate any longer if you are not already in the habit of saving your money.
Money in the bank truly does change everything.
The peace of mind that a nest egg provides is invaluable.
The money that you have set aside for a rainy day can buy new tires for your vehicle; it can replace that old water heater that just went out; it is something to fall back on when your checking account is empty; it can pay for that trip you have been planning.
The ideal plan is to have one savings account that you can dip into when necessary, and another that is untouchable.
The "untouchable" account will grow and grow as you add to it each month.
Before you know it, you will have a substantial amount set aside for your future.
An IRA is a good vehicle for an account that you will not withdraw from.
Start saving today, no matter what your age may be.
It is never too late.
If you start young, you will be better off than someone who starts later in life, but even an old bird will be better off for it.
Set up your savings account today.
Do it now.
Do it for your peace of mind.
Do it for your future.
It is absolutely essential.
Nothing else will allow you to sleep better at night than knowing you have set something aside for a rainy day.
Below are the steps to follow for your financial health: 1.
Make saving a priority.
2.
Pay yourself first.
3.
Make saving money automatic.
4.
Balance your checkbook.
5.
Do it now! Let's break this down.
Saving money is not something to be done when you "get around to it".
It must be a priority and you must understand its importance.
Money in the bank changes everything.
Never forget this.
In order to pay yourself first, you must put something in savings before you do anything else.
Do not pay even one bill before you pay yourself.
After all, if you don't pay yourself, who will? Do not fall into the trap of thinking there is not enough money to pay the bills AND yourself.
You MUST pay yourself.
If you can only pay yourself $10 a month, that is a place to start.
However, start with saving 10% of your paycheck if possible.
If not, just start somewhere.
Set up an automatic transfer from your checking account to your savings account.
This can be done monthly, weekly, or bi-weekly.
It is up to you.
By doing this, you will never forget to put money into savings.
It is money that you will never see, so most likely you will not even miss it.
Remember to post all transfers in your transaction register so you will know exactly what is in your account.
Balance your checkbook regularly so that there are no surprises.
It is a good thing to know your exact balance down to the last penny.
This may seem like overkill, but trust me, it is very important.
It could save you some big headaches down the road.
The most important thing is to DO IT NOW! Do not procrastinate any longer if you are not already in the habit of saving your money.
Money in the bank truly does change everything.
The peace of mind that a nest egg provides is invaluable.
The money that you have set aside for a rainy day can buy new tires for your vehicle; it can replace that old water heater that just went out; it is something to fall back on when your checking account is empty; it can pay for that trip you have been planning.
The ideal plan is to have one savings account that you can dip into when necessary, and another that is untouchable.
The "untouchable" account will grow and grow as you add to it each month.
Before you know it, you will have a substantial amount set aside for your future.
An IRA is a good vehicle for an account that you will not withdraw from.
Start saving today, no matter what your age may be.
It is never too late.
If you start young, you will be better off than someone who starts later in life, but even an old bird will be better off for it.
Set up your savings account today.
Do it now.
Do it for your peace of mind.
Do it for your future.
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