A Key Part of Your Budget
An important aspect of a budget is allocating money to savings. Having savings helps you get through emergencies, meet short term goals and long term goals, and it gives you peace of mind knowing that you have a financial cushion.
An important aspect of a budget is allocating money to savings. Having savings helps you get through emergencies, meet short term goals and long term goals, and it gives you peace of mind knowing that you have a financial cushion.
Step 1: Start saving. If you don’t have an emergency savings account, then start one. You have to build up a savings account that you can fall back on instead of credit cards. No matter how small your contribution, contribute some amount every paycheck. Financial professionals recommend having 3 – 6 months’ take-home-pay in emergency savings.
Step 2: Are you saving for your retirement? Do you have a retirement plan at work that in any way matches your contributions? Contribute enough to your retirement plan so that you get 100% of any matching contribution from your employer; otherwise, you’re leaving money on the table.
Getting and keeping your finances under control is not easy; that’s why consultations with a Money Coach are so important! Your Money Coach can help you with each of the steps listed above and more! Call 888-724-2326 to get started today.
More Like This
Shopping can take a nasty bite out of your budget, but if you plan right, you can get what you need with cash to spare. The key is to wait for those opportune moments when prices are low and coupons are in abundance. Coupon Cornucopia Sites like Groupon, LivingSocial, RetailMeNot and Ebates provide a plethora […]
For years, it’s been proven that financial problems play a key role in stress levels.1 Colleen certainly knew it was true, as she carried $72k in debt and went $2,100 over her budget every single month. Needing serious relief, Colleen started working with the MSA Financial Wellness program, and the results were phenomenal. When Colleen […]
Whether you’re a seasoned employee or new to the workforce, here are some key factors to remember during open enrollment to maximize your benefits and protect your well-being.
Some people look at budgeting as an object of torture – but it doesn’t have to be. If you create your budget with your goals, it’s YOUR budget – something you can take pride in and rely on to help you achieve financial peace of mind. A budget is not a wish list. It’s a […]
