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The economy is tough these days and it’s hard to make ends meet, much less save and plan for the future. One thing my husband and I are doing is putting a small bit of money from each pay check into a savings account that will allow our kids to attend college at today’s rate even though they won’t go to college for another 15 years. What are some simple ways that you are working to secure your financial future? ~Julie, StrongMoms Facilitator
So I have a confession....I haven't been the best at saving money. HOWEVER, something changed this! In January, after being in my current job for 2 years they automatically start pulling 7.5% of our salary (pretax) and investing it in retirement. We don't have any choice about this. In another three years it goes up to 10%. That first paycheck I about fell over as I didn't realize this was going to happen, and couldn't figure out how on earth I was going to stay on my budget loosing a total of 15% of my monthly pay. I went home and played with my spreadsheet budget and made it work. It was a bit depressing at first, but after about 6 months I got a balance statement for my retirement account and was so proud of myself. Then, get this-last month I got a statement and they suggested I increase by just 25$ a check showing that if I did this my monthly retirement check will be quite a bit better...and so i signed up! So, here is my advice-take the jump. Once you do it you figure out how to deal with it. Then once you have been doing it awhile you will gain a sense of accomplishment and pride in your saving ability. THEN once you have been doing it you also get a sense of security and wellbeing that having that money in your spending account every month just doesn't provide.
I agree! You just have to take the money out first, otherwise you find ways to spend it. We do the same thing and after a while you adjust and learn how to live with less.