Hi Kelly! This is such an important topic, I decided to cover it in our Weekly Webcast.
In a nutshell, saving when you’re on a tight budget is about focusing on the right priorities:
– Pay down your credit card debt (otherwise you’re wasting a lot of money on interest
– Max out all your retirement account contributions every year (this is the best way to save for retirement, because it’s being done on a pretax basis)
– Perhaps most importantly, make sure you have enough term life insurance. This will protect your key priorities in case the unexpected happens.
How much term life insurance is enough for you? Well, it depends. I go into more detail in the webcast:
Viewing 2 posts - 1 through 2 (of 2 total)
The forum ‘Grow your savings’ is closed to new topics and replies.
.