Good health is not something we can buy. However, it can be an extremely valuable savings account.
If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you'll be forced to scale back spending to make ends meet.
All my money is in a savings account. My dad has explained the stock market to me maybe 75 times. I still don't understand it.
It's almost embarrassing how much support I have. I mean, I always tell people I feel like I'm perfectly set up to have cancer. I have great health insurance, I have a savings account. I have work lined up. I have friends and family. I have the best doctors I can get.
Women who have it all should try having nothing: I have no husband, no children, no real estate, no stocks, no bonds, no investments, no 401(k), no CDs, no IRAs, no emergency fund - I don't even have a savings account. It's not that I have not planned for the future; I have not planned for the present.
I'm 36, but I still feel like a punk kid with $200 in my savings account.
Plan to build up your food supply just as you would a savings account. Save a little for storage each paycheck. Can or bottle fruit and vegetables from your gardens and orchards. Learn how to preserve food through drying and possibly freezing. Make your storage a part of your budget.
Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.
I always encourage people to pay themselves first, so I really advocate setting up direct deposit for your paycheck and establishing an automatic transfer so that part of each paycheck goes straight into your savings account.
We say that anytime budgets are balanced and an ample savings account has been set aside, government should just stop collecting taxes. Better to leave that money in the pockets of those who earned it, than to let it burn a hole, as it always does, in the pockets of government.