One of the habits that I am just now starting is to take money out of each of my paychecks and put it in savings. Until now, we have lived paycheck to paycheck, mainly due to our mismanagement of money. Budgeting is a difficult thing, but one of the simplest steps to being able to adequately manage your finances is just to save it. Set ten percent of your money in a savings account or high yield account. Don’t touch it. Save it for your children’s school, your retirement, or just simply so you can have some added freedom later.
Also very important – start early. The early you start saving, the less you need to save per month, since interest will accrue longer. It goes up significantly if you delay for even a few years.
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