3.5 Ways to Develop a Habit of Saving Money
Developing a habit of saving money requires self-control and self-discipline. If you don’t think it is important just try to get a mortgage or car loan and see how well you do. According to the Huffington Post 50% of Americans have less than $500 in their savings account. How can this be when we are one of the richest countries on earth?
If you don’t have a savings account and/or an emergency fund it’s your fault. According to some financial experts you should be saving 10% of all your income. If you have been working for 10 years at an average income of $46,000 per year according to statistics. You should have $46,000 liquid cash in your savings account.Saving money
I am not speaking about 401k’s, pension, or other retirement plans. I am talking about cash money. You are red lining your finances if you don’t have an emergency fund of at least $1000. You risk going into debt when unexpected emergencies happen. Ideally you should have 6-9 months of emergency funds stashed away. Invest the rest of your cash in income producing assets....Finish Reading Hear....prosperity-link.com/savingmoney77
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