Most folks when you talk about savings bonds simply reject it outright. When i first started my career 20+ years ago I had an automatic deduction taken for savings bonds. It was a whoping $12.50 a pay period. Every fourth pay period a $100 bond was purchased and sent to my home. This has gone on every since. It is true the interest rate is not as high as some other investments but it is not bad usually. It is a nice way to save a small amount and not even pay any attention to it. I understand that savings bonds can be redeemed to pay for college tuition down the road for your children, as an example, and you don’t have to pay taxes on them.
This is one small thing I have done for a long time.
Of course more info can be found simply by searching us savings bonds.
Jeero took this goal just a little too literally!
An easy way to save long term is to sign up for any company retirement plans that may be offered. There is actually a goal related to saving 3% of each paycheck in a company matched 401k plan that exists.
So why adopt that goal if this one exists? Simple – the enrollment period for your company may not exist now, but adopt that goal and setting a reminder will put it at the front of your brain when open enrollment starts.
Perhaps a lesson that so many of us are seeing played out in the media is the need to save. Between price increases, layoffs, and credit crisis, even those of us who have been blessed are seeing the need to have a cash / cash equivalent nest egg for the tough times.
I intend to keep on saving long into the future.
( yes, I purposely used the proper spelling to tick off certain people)
It has been reported that Firestone forsees the need to increase the price of tires upwards of 15% in the United States as crude oil is the raw material from which the tires are made.
This may be a good time to check your tires and, if the time to replace is getting close, either buy your tires now and store them, and do the whole change the tires deal but save the old ones to be used as spares later one.
While tires are not one of the more exciting things in our lives, as Michelin has reminded us several times in their adverts, you do have a lot riding on your tires.
For those trying to discipline themselves into a stronger savings mentality, the Save $20 from every paycheck goal is a great way to start tackling this much larger goal.
I am keeping up with my business practive of saving 5% of every deposit.
Its just mindboggling how must peace comes from having that cushion there. In a few months when the cushion becomes large much of that will be spent as an investmetn into business growth.
In our personal lives, if we sock away some of every paycheck, those inevitable surprises, like insurance, and much easier to weather instead of becoming periods of “ooops”, lets pay for petrol with spare change we find under the car floor mat.
Julie Can't wait to start over...
I will be back another day to share my story. It is late… I must go to bed.
I just noticed that it said 8:31 pm… HEHE it is 11:31 pm here in FL
The prediction of an economic callapse has been out there for a very long time. In recent days we have seen so many economic stories of woe. I remember many years back reading a book by the late Gary Burkett. He talked about the what he thought would be the coming econimic crash of the economy and I will never forget his main point of advice. “Get rid of your debt!” When the country is in tough times economically the last thing any of us needs is debt on top of it to burden us even more.
I am so looking forward to our last payment on our house and that will mean I am debt free for the first time in more than 20 years! I am thinking back and I consider my indebtedness started when I went into college. Student loans and then we got married and several years later got a home etc… We have paid many things off in those years but of course there has always been somthing that we had payments on. The mortgage was a constant over many of those years of course.
I hope that my words are taken correctly in that I share them for the purpose of convincing all of you that it is possible! If I can do this anyone can! We all have different scenerios of course, but whatever the situation you can get out!
Here is to a future of responsible spending and using our finances for the betterment of ourselves, our families and ultimately to the society in which we all live.