Home / Saving Money / Start Saving NOW!

Start Saving NOW!

FYL Blog 5.12.16

According to a recent survey by Bankrate, about 32 percent of Americans save 5 percent or less of their

income and roughly 18 percent aren’t saving anything at all. That’s 50 percent of us saving little to

nothing for emergencies, the future and retirement. The only way we can change this number, while

simultaneously gaining more control over our future and solidifying our financial security, is to start

saving NOW—by choosing a Number, Owning it and setting it aside Weekly.

The NOW Method of Savings

The first step in saving money NOW is to choose the amount you want to save (your Number). Experts

generally recommend that you try to save 15 percent of your income. While that might be your end

goal, don’t be afraid to start smaller just to make it doable. For example, if you currently don’t save

anything, choosing to save 5 percent of your income is a huge improvement. If you currently save about

5 percent, upping that to 7.5 percent will make a noticeable difference.

The second step is to Own it. That means committing to yourself to saving that percentage

consistently—before doing anything else with your money. I discuss this concept in my book, Financing

Your Life. In it, I offer the idea of paying yourself first. This is a crucial step in owning your number and

ensuring you save NOW.

Finally, the third step in starting to save NOW is to set aside your savings every single Week. Habits are a

powerful thing. Think about your daily drive to work. By now, you probably make the drive without

thinking. You don’t remind yourself when and where to make turns and you don’t have to consult a map

to successfully arrive at your destination. It’s not a pain to make the trip and, really, the drive probably

doesn’t require any great effort from you. That’s how saving money can be when you do it every single

week, without fail. Eventually, you won’t even think about it—and you certainly won’t miss the money

as it moves from your checking account into your savings.

Saving money isn’t hard—it’s just a matter of finding the right number, owning it, and setting it aside

weekly. Get started NOW and change your future for the better!

About Dennis M. Postema

Dennis M. Postema, RFC, is a successful entrepreneur, best-selling author, coach, speaker and registered financial consultant. He is the founder of MotivationandSuccess.com, StoriesofPerseverance.org, FinancingYourLife.com and TheRetirementInstitute.org.

Check Also

Saving Money on Vet Bills

Pets are loved and cherished members of many families. People do research to make sure …

Leave a Reply

Your email address will not be published. Required fields are marked *