How To Save Money Without Taking It Out Of Your Paycheck
Making investment choices may be one of the hardest things we have to do. You can’t just sit on cash and expect to retire on it, unless you have a ton of it. The problem is money today in cash will not be worth as much in the future because of inflation. You reall have to sit down now and decide what your investment options are and invest for the future.
You have to start saving money. If you are not saving money and you spend every dime that you earn you could be in deep trouble. This is a bad habit to start and a hard habit to break, but at some point everyone needs to start building that nest egg so that they can retire happily and not depend on the government to foot the bill for retirement, unless campgrounds sound like nice vacations.
The first thing you can do is contribute to 401k. If you don’t contribute start bumping up your contribution by 1% a month. I promise you won’t even know the money is gone. Bump it to the max that your employer will match or 5% whichever is greater. Then you are saving 5% of your paycheck without even noticing. I promise this works, just try it out.
Next you need an emergency fund of at least $1000. The benefit of this is that if some unexpected expense comes up you won’t have to sell investments that are making you money to pay liabilities that cost you money. The way I do this is I have an account with Sharebuilder.com and have an automatic withdrawl of about 10% of my take home pay. I never notice the money is gone and my savings builds quickly.
The last thing I recommend is that you take some money to speculate. The above savings account doubles over time if you do it the way I do. What you should do from there is invest money that you can afford to lose in speculation. One good way to do this is with Automated Forex Robots. These basically make foreign exchange trades for you which can make you a lot of money very quickly.
There is free ways to do Automated Forex. Find out how to do it with this free information.