How Do Some People Save And Others Don’t?

I have to give some credit to HSBCDirect.com for the following:

• Active Savers, a group of people characterized by their dedication to saving, entered the recession better prepared than others because of their savings lifestyle. They have not had to take drastic measures to adapt to uncertain financial times and are less likely to have had to cut back on spending, eating out, and making large purchases.

• For more than half (57 percent) of Active Savers, learning to save started at a young age. Putting money away is a value their parents instilled in them (73 percent).

• Savings comes first for nearly half (46 percent) of Active Savers. They’re willing to make sacrifices in order to be able to put money away.

Overall, a majority of the population has not allowed the economy to hamper their savings plans—81 percent have been able to put the same amount away, if not more.

Here’s the idea: Steady savers are better prepared for the downturns that always come in economy and personal situations. Steady savers that are most successful are those who save AUTOMATICALLY. This can include:

401k
Roth IRA
Traditional IRA
Emergency Savings

And you should have each one of these with automatic savings everytime you get paid.

Savings should be put away in FDIC-insured banks that offer the best interest rates.

Want more? Check out or main blog at www.stickyasset.com/blog.

Good luck. You’re on the right path thinking about putting money away for the future. Now…take more steps to protect your future by putting the automatic savings into action in each of the categories above.

Thank you.

Loyd Ford
www.stickyasset.com/blog