Increase savings

Increase savings

Saving should have the same importance as paying your bills. Put money in savings from each paycheck. If your company has an automatic savings program, contribute at least enough to qualify for matching funds, if possible. Put at least 10% of your income into savings, and as much as 25%. If this sounds too difficult, start with one percent of your paycheck and increase as your salary grows.

Save enough in an emergency fund to cover at least six months’ worth of expenses—nine to twelve is even better.

Need a few more pointers? Visit LutherSales.com for free tips on financial wellness.

 

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