It is suggested that nearly 33% of all individuals who are earning at least six figures in our country have no savings whatsoever. How can this be? How can you make such a large salary and not put a portion of it back? It is understandable that someone riding the poverty line might not be able to put away some of their paychecks for savings. However, those in the $100,000 and up range seem to have the same problem.
I was reading this article on Business Insider last night that reveals five ways that you can avoid that problem as your salary increases. I would encourage you to click over on the link. It’s a very short read but full of wisdom in regards to saving.
Here are the highlights….
5 Ways to Save
Stop lifestyle inflation
Make savings a fixed cost
Don’t rely on bonuses
Treat yourself – to a point
Ask for advice
That seems easy enough, right? Apparently not. Or, at least, it has been disregarded by many people. Don’t be one of them. I think one of the main problems that society has when it comes to managing finances is that we are more focused on the present than we are on investing in our future.
Don’t be a fool with your finances. Use these five tips and start investing in your future today.
Also… looking for a way to boost that savings account? Tax time is coming up. This year, instead of spending your return on something you do not need, how about claiming the maximum amount of deductibles that are available and investing the entire check in your future?