Thread Rating:
03-03-2011, 08:27 AM
Like SD said.. Savings offers very little return. I use a savings basically as a short term type of thing to discipline myself to hold money away from my paycheck to go towards emergency situations and upcoming expenses (house, car, etc, vacation, etc)
I have an IRA right now with my company. I get a % match from my employer and once I had a pay raise I immediately bumped the % I was putting into it myself.
The one thing I strongly advise is eliminating your debt first if you want to start saving. If you have any credit card balances get those paid off first. Interest on debt kills people and you will be surprised how quickly your money saved adds up when you can put what you are losing in APR charges into interest that is actually making you money instead.
I have an IRA right now with my company. I get a % match from my employer and once I had a pay raise I immediately bumped the % I was putting into it myself.
The one thing I strongly advise is eliminating your debt first if you want to start saving. If you have any credit card balances get those paid off first. Interest on debt kills people and you will be surprised how quickly your money saved adds up when you can put what you are losing in APR charges into interest that is actually making you money instead.
![[-]](https://bluegrassrivals.com/forum/images/lifestyle/collapse.png)
Messages In This Thread
Savings Account/CD's/Retirement Accounts - by LWC - 03-03-2011, 12:57 AM
Savings Account/CD's/Retirement Accounts - by Stardust - 03-03-2011, 03:35 AM
Savings Account/CD's/Retirement Accounts - by EKUAlum05 - 03-03-2011, 08:27 AM
Users browsing this thread: 1 Guest(s)
