How is your savings account doing?
We previously mentioned paying yourself first by setting something aside in your savings account.
What are your savings goals?
- Savings for your child.
- Saving for a car or a better car
- Saving for college expenses
- Saving something for an emergency
You can never save enough for your child or children! Enough said about that.
If you are saving for new(er) car, remember the more money you initially put down on the car, the less your monthly car payment will be; unless you are able to pay for the total amount of asking price (hint… after some negotiation).
An extra cushion for college is always wise. One can never predict additional expenses. Financial aid may not always be available as soon as you need it.
Saving for an emergency or a rainy day… as the saying goes, is always wise! Can you stand the rain? Yes, you can because you will have something saved.
Look for next month’s $timulating Tip’s discussion. Until then, Keep your mind on your money!