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Money Tips From Real Simple 2008-02-19 12:26:37

Six Steps to Worrying Less About Your Money: Part II

Is the size of your savings not exactly healthy? You're not alone — the US Department of Commerce estimates that the average American household only saves 0.4 percent of its disposable income, which is down by more than 2 percent from 1999. Saving too little is the second worry that Real Simple covered in their March issue feature, and they suggest coming up with a savings goal and setting up an automatic deduction from your checking account to get your savings beefed up. To find out what steps they recommend to get your savings where it needs to be, just

  • Make your savings goals feel intensely real: Determine what you want or need and internalize the goals so you feel like the future is now. Maybe even change your computer passwords to serve as reminders of your goals.
  • Open a 401(k) retirement account: It's the easiest and smartest way to save long term. Invest wisely.
  • Start a savings fund for immediate needs: Set up a specific amount to be automatically deducted from your checking account and moved into a savings account.

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Join The Conversation
rumpel2 rumpel2 9 years
i do #2 and #3...i dont think #1 wud work for me
Martini-Rossi Martini-Rossi 9 years
I do #2 already. #3 hmmm I dunno about that since there are times I need a little extra cash for random things. #1 - just no. lol - that wont work.
shanimalcracker shanimalcracker 9 years
I already do the second two tips as well. However, I don't think that changing passwords would work for me.
i-am-elle i-am-elle 9 years
I already do #2 & #3, #1 seems like a great idea too!
KansasNutmeg KansasNutmeg 9 years
I like the idea about changing passwords to remind you of your goals...like "creditcards". All to often I get really motivated to change my finances, like right before a paycheck or after paying bills but then forget about it until the next pay cycle. To really change you have to focus everyday not beginning and end.
Lovely_1 Lovely_1 9 years
All very helpful tips :) The trick is taking enough out so there will always be some but nto enough so that you are sturggling each month to cover your basic needs and payments.
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