We have already talked about a few ways to jump-start savings, but this topic cannot be overemphasized enough! Please consider that regardless of what your income level is, your current and future security depend on your ability to live within your means.
Here are two points you need to remember when saving for your future:
1. Setting aside money that will work in your favor and eliminate debt that works against you...whether you are collecting interest or paying it.... it makes all the difference!!
2. Peace of mind is created by having money set aside for future use; In contrast, anxiety and worry replace peace of mind upon receiving a collection notice from a debtor!
O - Print off Jump-start Savings page. Identify ways you can save and ACTUALLY DO WHAT IT TAKES TO SAVE THE MONEY! The amount of money you are able to save is not important, but rather that you have a plan and are committed to saving it!!
O - Review your current bills: Often by bundling services such as phone, TV, and internet, you can reduce your costs. We have a services broker on staff to help you with that. Complete the LIFE 1010 SpendWize Challenge form, if you haven't already from week 10, and fax or e-mail it back to us to see if there is money to be saved there. (Fax: 855-876-5252; E-mail: info@LIFE1010.info)
O - Bundling your home, auto, recreational vehicle and life insurances can also be a great source of savings. If you haven't already done so, fill out the Property and Casualty Workbook from week 25 to see if you can save more!