Making Saving Money Automatic
It's that time of year again—the beginning of the year when we all have high hopes for losing those extra 10 pounds, or exercising more often. We all know where that inevitably ends up after a few months—back where we started, wishing that we had the willpower to stick to it. That’s why I’m encouraging you to choose a new year’s resolution you CAN stick to because it lasts all year and you only have to do it once!—automatic deposit to a savings account on a monthly or bi-weekly basis. If your work offers direct deposit, consider paying a visit to your payroll officer and requesting a new direct deposit form—one that diverts a portion of your paycheck to a savings account that isn’t so easy for you to access. Better yet, if you haven’t enrolled in a retirement plan offered by your workplace, there’s no better time to enroll than NOW. If you are making a traditional contribution to your retirement account, you may reap the benefits of pre-tax contributions; if you choose to make a Roth contribution, you will benefit from tax-free savings once you reach retirement. Either way, you can’t go wrong. If your workplace doesn’t offer direct deposit, you can always set up an automatic transfer from your main banking account into another savings account at the same institution. Saving on an automatic basis NOW for retirement, or for an emergency, or for that new washer/dryer set you’ve had your eyes on will help you save money in long run. Can’t quite muster up the enthusiasm to save money? Call me and we can sit down together and go over your budget and determine what amount will work for you.
I can be reached at 802-477-5215 or email@example.com. So, don’t delay—give me a call, or better yet, get your jogging shoes on and make a dash to your payroll department and start saving today!