After months of saving and paying off debt, average Americans are finding their way back to retail. It’s positive for them, but what is it doing for you?
A lot of Americans are fatigued by pulling back on spending. I’m not making this up. After all, we know that saving money all the time and paying off debt is not super-sexy. All the marketing you see is about flat screen HD televisions and new technology for your home, car and leisure activities.
If you follow our blogs, you know that we believe that slow and steady wins the race. We also believe in balance and in diversifying your personal financial life. We also believe that you cannot make saving money optional if you want to have a good life….later.
The world is full of people who got out of high school or college, secured a good job, received raises and began to fill up their life with debt. Many of those people reached a point in time (or will reach a point in time) where they lose their job and cannot get another job quickly. In fact, many stay unemployed for 12 months or 18 months. Some of those people will get a new job but will not be able to replace their previous income.
You must not make saving money optional. It isn’t.
You should have or build an emergency savings fund of 15 to 18 months of your expenses in money market savings and certificates of deposit.
We don’t encourage you to focus only in the area of saving money. You must have fun in your life. You must be able to enjoy your life. This is the reason for balance.
We also recommend you focus on percentage of income in savings. In other words, don’t focus on dollar amounts. Focus on the percentage you save from each of your paychecks. That is the way to get ahead.
Set goals and celebrate when you achieve each one. Make your family a part of your plans and how you accomplish your individual month to month savings goals. And don’t forget to celebrate together.
If you make your savings steady from your paychecks month after month after month (we actually recommend you save a percentage of your after-tax pay each time you get paid), you will stay focused on your goals, watch your savings build faster than you think and avoid “frugal fatigue.”
You can do this!
HELPING YOUR KIDS GET AHEAD
If you think I was born saving money, you are wrong. My family is filled with hillbillies from Louisiana. There are members of my family that don’t believe in 401ks or IRAs. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!
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!
Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”