Saving for retirement is very important, but many people feel that they can’t spare the money to participate in a retirement plan or even create a basic savings account. Retirement plan consultants suggest that the first step is to create a budget. Once you figure out where your money is going, you can look for ways to save more.
Track your spending
When it comes to preparing for a rainy day, the best time to act is now. Establishing a 3-month or $10,000 emergency fund is a critical pillar to your financial wellness — and it will help you sleep a whole lot better at night.
But how can you find room for this essential line item in an already tight budget? Here are 12 tips to help get you there.
A credit score is assigned to you by each of the three major credit reporting agencies. The most common is the FICO score. Calculated based on the information in your credit report, it’s purported to measure your overall credit worthiness. FICO scores range from 300 to 850 — the higher the better.
Saving for a secure retirement can often seem like a daunting task. But when you have even loftier goals it can feel near impossible. What would it take to become a millionaire, or even a multimillionaire? Would you need a big inheritance, some luck when playing the lottery? Do you need to spearhead a super-successful tech start up? Or become a doctor or a lawyer?
It’s an age-old question: Can money buy happiness? The answer, it seems, is not straightforward.
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