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Savings
Saving for a rainy day does not come easy to some people, especially for
younger employees that live hand to mouth. They spend every cent of their
paycheck and scramble to survive until the next one. Keep in mind that saving
isn’t just about retirement – it should be a habit that is an integral part of
everyday living. Some banks have a program where you can round up every
purchase made on your debit card and the extra change is put in your savings
account. Some people put a coin jar in their kitchen. When it is filled up, it goes
into saving. Savings doesn’t need to be a lot, but start now before you create
your lifestyle on your full paycheck! It will save you a headache when an
unexpected expense comes up. Retirement plans are just another type of
savings account. The difference is that the savings you accumulate outside of
retirement can be used at your discretion.
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Section 18 – Planning For Your Future