Here are simple ways to help you increase your savings.
Part 1: Four simple ways to increase your savings.
It's been well documented in many places that Americans do not save enough money. At Everyday Wisdom, LLC, we'd like to do our part in changing that. We believe that in most situations, the simple way is the best way. Why? Because there is a far better chance you will take action if it is something simple you can do. You see, it's not just what you know, it's what you do.
If you are not saving now, today is a good day to begin. We recommend you read our article titled "Resist the Temptation To Spend All You Earn When Spending Your Money." before you read this article. It will start you on the road to saving your hard earned money.
You probably know two people, one who saves their money and the other who doesn't. Take a moment and look into their future. What do you see? You'll see two entirely different outcomes. The one who does not save will have to continue working past retirement age, while the other person, the one who saved, may even be able to retire early. Which road will you take?
Some people say they can't save. Not true. Yes, they may have to start with very small amounts, but over time they can learn to increase their savings amount. As Jim Rohn's mentor told him, "It's not the amount that counts, it's the plan that counts."
If you put some of the ideas you read here into practice, you will find simple ways to increase your savings which means a better life for you as time goes by.
Ok, enough of an introduction. Let's get started on the simple ways for you to save:
Those lock-up penalties will help you increase your savings. They serve you as a useful deterrent against unnecessary savings withdrawals. If you are saving for a longer-term goal, take advantage of a tax-deferred savings plan. It will also discourage you from pulling money out by slapping you with a 10% penalty for withdrawals before age 59 1/2; in some cases you won't be able to withdraw cash at all unless you can prove financial hardship.
Now that you have read this article, become like the squirrel who doesn't eat all the nuts when it finds them. Instead some are saved for winter when nuts are hard to find. You must do the same for your future. Start now increasing your savings.
Perhaps you're wondering where you can get a high rate of interest on your savings to help them grow. Using compounding interest to increase your savings is smart. Here's a place we've found you might consider:
To go to the top of this page on how to increase your savings, click here.
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