Developing A Habit Of Saving Money By Charles Fitzgerald Butler Essay

818 WordsNov 12, 20164 Pages
3.5 Ways to Develop a Habit of Saving Money By Charles Fitzgerald Butler | Submitted On July 30, 2013 Recommend Article Article Comments Print Article Share this article on Facebook 1 Share this article on Twitter Share this article on Google+ 1 Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Charles Fitzgerald Butler Are You Saving Money? Developing a habit of saving money requires self-control and self-discipline. If you don 't think it is important just try to get a mortgage or car loan and see how well you do. According to the Huffington Post 50% of Americans have less than $500 in their savings account. How can this be when we are one of the richest countries on earth? If you don 't have a savings account and/or an emergency fund it 's your fault. According to some financial experts you should be saving 10% of all your income. If you have been working for 10 years at an average income of $46,000 per year according to statistics. You should have $46,000 liquid cash in your savings account. I am not speaking about 401k 's, pension, or other retirement plans. I am talking about cash money. You are red lining your finances if you don 't have an emergency fund of at least $1000. You risk going into debt when unexpected emergencies happen. Ideally you should have 6-9 months of emergency funds stashed away. Invest the

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