The President Of The United States on the economy 7/31/09: “I realize that none of this is much comfort to those Americans who are still out of work and struggling to make ends meet. And when we receive the monthly jobs report next week it’s likely to show that we’re still continuing to lose far too many jobs.”
THE PRESIDENT IS TALKING DIRECTLY TO YOU AND ME
When do you think the president is talking directly to you? Many Americans are working and others are losing their jobs or due to lose their jobs in the now or near future. If you don’t have a regular and automatic savings plan, you are losing ground in this economy. In fact, you may lose your job in the coming months and not be able to find a new job for many months. You could also be in a situation where even when you find a new job, you cannot replace your income. That means your family income will drop.
IF YOU HAVE A JOB, ALL YOU REALLY NEED IS OUR 1% PLAN
If you have a job today, you have opportunity to save money. This is true because of specific strategies that you can take to keep more of the money you are earning as savings. However, you may have to adjust the way you look at your pay at work, your spending and your savings.
How much should you be saving each paycheck? Experts often agree it should be 20%. How can the average person with a mortgage, bills and children do that? We recommend that you begin with our 1% plan.
Take your next paycheck. Look at it after taxes. Before you do ANYTHING with it, take only 1% of your after-tax paycheck and separate it. Put it in a money market savings account. Try HSBC or Ing Direct. They are both on-line FDIC-insured banks.
Then….each time you get paid from now on, increase your savings – off the top – by another 1% until you reach 20%. This is a trick so that you don’t shock your lifestyle and you gain access to savings that you will need. After all, savings should not be optional.
MORE HELP BOOSTING ACTUAL WEALTH
Need more help? Can’t save that “fast”? Only increase 1% additional every month. The point here is to begin. Do not delay starting.
Many personal finance advisors tell you to save or pay yourself first. We like to go further with savings by sharing how YOU can begin a program on your own with our 1% plan.
We also encourage you to build your own total and overall plan to boost savings and build real wealth. We are dedicated to sharing the secrets and making it easier on you.
HELP YOURSELF & THEN HELP YOUR CHILDREN
In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.
You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.
If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.
Thank you for reading our blog and good luck!