Wednesday, July 13, 2011

Make Savings a Lifelong Habit

The America website has an article today about making savings a lifelong habit. The article is about the lack of savings for Americans aged 65 and older and encourages people younger than 65 to save for their retirement. Here is a piece from the article:
These findings only reinforce the message that everyone needs to make saving a lifelong habit. With people living longer, it is more important than ever to start saving for retirement at a young age. 
  Here is a link to the article:  Make Lifelong Savings a Habit 

Earlier this year after reading Ramit Sethi's book, I Will Teach You To Be Rich, I automated my savings by following the directions in his book. Ramit says that once your savings "is automated, that money will be shunted from your checking account right into the appropriate account without your even thinking about it" (129). For me, having money automatically deducted from my checking account at the first of the month has helped me to become a more consistent saver. It is something I don't even have to think about anymore as it is done automatically for me. I would recommend reading his book and I would borrow it from the local library.

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