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What Type Of Saver Are You?
If your living
paycheck to paycheck, then you are not a saver! You are a SPENDER!
Working everyday of your life just to pay your bills is no fun! Having
no money at the end of each week is not living!
When you leave
your home to run an errand, do you leave the light's on? Then I hope
you are very wealthy! Or at least buy some stock in the local electric
company! Because you surely will never become wealthy by doing what you
are doing!
Going out to eat
every single night will only make the restaurants rich! While your
credit card balance gradually grows beyond your reach of being paid off
each month!
When it comes time
to buying something, you find that there's no money to do so? You just
got paid and there is not a penny left! It all went to paying-off the
bills you created!
Imagine that you
are retiring and you have no savings? What this means is you won't be
able to retiring! The social security check that comes from the
government won't even be enough to pay your rent. And what about
putting food on the table? Don't forget all the other monthly bills
won't be paid either!
This
is a perfect example of a "Non-Saver" or "Non-Planner"!
Don't fool yourself!
Then
you have the person who thinks they are saving for a rainy day, but are
only fooling themselves! This is the type of person who has the money
to pay all their bills. And with the little extra money each month they
deposit it into their bank account just to sit there and let it collect
dust!
If
you can come up with just $50.00 a month, then you should open a IRA
Retirement account! A bank pays next to nothing in interest. A good IRA
will provide you with a much better return on your investment then your
bank! A good mutual fund right now is the Vanguard Total Market Index Fund.
You can also try Fidelity
Investments.
If
you are afraid of loosing money then you might want to look into
"Savings Bonds". from the US
government site. This type of investment is more for the
conservative person. But still offers a better return then a bank.
You
want to save enough money for retirement. Not just a little money! But
enough to be able to enjoy yourself. Calculate the number of years and
the amount of money you will need to retire on. There are many places
to locate this type information. Bloomberg
is one I use often.
Please,
don't place your money under the mattress!
This is not s good
idea! Reason being, crooks know that some people hide money under their
mattress. People who place money under their mattress don't think about
"what happens when your
home catches fire"! There goes all your money!
Never to be replaced!
If the money was
in the bank to begin with, you would still have it! You don't have to
worry about the bank catching fire, your money is insured by the FDIC. Each bank account is insured for
up to $100,000.00.
What Type Of Saver Are You?
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