Sv Money:planning% Communication Library

Planning for Retirement

It's never too early to start saving!

Setting aside a certain amount of money regularly for a lifetime can really add up to a lot of money for retirement.

Investing is requirement to save enough for retirement. A balanced approach will mix stocks and fixed income investments to help build your savings.

A401(k) is one of the best ways to save for retirement. It saves money on taxes, and the amount may be matched by your company.

Secrets to Creating a Budget

A road map to your financial future

You never set out on a road trip without a map. LIkewise, you can't expect to reach your financial goals without developing a road map for spending and saving.

First, track your spending.To create a budget, you need to track every expense, no matter how small, for at least a month including ATM fees. This helps you to create a more realistic budget.

Next, define spending priorities.About 35% of your earnings should be earmarked for housing and utilities. If you are saving for something specific like a new car or college education, set aside additional for those. Cut back on the less important things - but do not remove them entirely. Be sure to build a safety net for rainy day emergencies.

Credit and debit cards make it easy to overspend. If you find it hard to stick to the budget, pay for groceries, clothes, vacations and non-essential items with cash. Always live within your means and strategically pay down expensive debt like credit cards.

Keeping a Budget

Organization saves money

Keep a record of all expenditures - it shows you where the money goes.

Establishing a budget helps you determine what is really a necessity and what's a luxury to help you manage your expenditures,

Emergency Fund