3 Simple Ways to Save

January 10, 2018

A new year brings with it new opportunities for improvement, whether you’re just starting your career or your eyes are fixed on retirement. And since Americans, as a rule, don’t always save as much as we should, taking another look at how we handle our money is never a bad idea.

By reviewing and revising the way you control your cash, you and your loved ones can experience big benefits in the long run. Here are three ways you can make your money work for you, easily, this year:

  • Create a better budget – Taking another look at your monthly expenses can shed some light on areas of improvement you might have missed – say, curbing those expensive dinners out or rethinking the gym membership that’s gone ignored since last September. By finding small ways to cut back, you’ll be better able to afford the things you truly want and need.

  • Establish a “rainy day” or emergency fund – Less-than-sunny days are unavoidable. And when they arrive, most experts recommend having an emergency fund with enough money to cover six months of living expenses. Maintaining this amount can be especially important if you’re single, have a less stable career or work in an industry with fewer job prospects.

  • Take advantage of your company’s 401(k) match – They say nothing in life is free, and sometimes they’re wrong, because that’s essentially what this is. It’s likely that a certain percentage or dollar amount will be provided to you by your company on top of any retirement savings contributions you already make in the company-sponsored plan. By putting in enough to take full advantage of the match, you could be boosting your coffers with “free” money that has the potential to compound and grow until you’re retirement ready.

I hope you and your loved ones find a few simple ways to dust off your saving strategy this year.



The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Nicole Middendorf and not necessarily those of Raymond James. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. 401(k) plans are longterm retirement savings vehicles. Withdrawal of pre-tax contributions and/or earnings will be subject to ordinary income tax and, if taken prior to age 59 1/2, may be subject to a 10% federal tax penalty. Matching contributions from your employer may be subject to a vesting schedule. Please consult with your financial advisor for more information. Prior to making an investment decision, please consult with your financial advisor about your individual situation.


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