Save often, save early
Why is this so important? By saving now, you can break the cycle of paycheck-to-paycheck living. You can also prepare for the future, which doesn't necessarily mean retirement age. If you get in the habit of saving now, you'll have less to worry about later because you'll have a nice little nest egg built up.
Cut out frivolities
Many people think it's impossible to save money when you're barely making any. This simply isn't true. If you can just save $10 to $20 a week, it can quickly add up. Consider cutting back on entertainment, ditching that regular visit to the coffeehouse, or brown bagging it for lunch. Instead of forking over your hard-earned cash to pay for things you may not need, consider putting that money into a savings account.
Save for a major goal
If you have a major goal like buying a house or car, get in the habit of saving from your paychecks (if you aren't already). You're not only going to need money to pay the mortgage or make a car payment, you're also going to need the money to cover repairs or improvements.
Save for the children
Set a good example for your children and show them how to save. You might want to open a children's savings account for them and allow them to deposit their birthday money or allowance into it. They can save up for small things like buying a bike or a video game, or long-term goals like a college education. If you get them in the habit of saving early, you can help them avoid paycheck-to-paycheck living down the road.
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