Click the button to the right to be navigated to our savings calculator tool. Our Savings calculator tool helps figure how much interest you gain by depositing a specific amount into your money market account, or your retirement account given the interest of that account at that time.
How to Purposely Keep Your Money
Any expenses you experience unexpectedly, you do not have to worry. It is not a crisis. Having saved $1,000 in cash means you're prepared for that unexpected event. The general public is able to save $1,000 in a months time, which is definitely obtainable for you. Turn the unnecessary worrying into confidence and peace of mind. Now start building your emergency fund now!
1) Save for the rainy days.
Saving cash for any rainy days is of utmost importance. You need to quickly save the initial $1,000 and have it in a liquid money market account. After you have fully paid off all of your debt, except your mortgage, you need to save ten to twelve months' worth of your normal household expenses. Saving for the what is inevitable to happen, those rainy days, means you will be prepared.
2) Make your saving efforts work, so you pay in cash only.
Pay for things you want with cash. Getting ahead in your finances, is the only way the habit of relying on living a life of debt can be stopped.
3) Retirement saving is of the utmost importance, no matter your career stage.
Age isn't a determining factor in retiring. Your financial wealth is. After you have completed paying off all of your debt and saved up your full emergency fund, start putting 15% of your gross income into either a Roth IRA and your employer's 401(k) plans.