Financial Literacy Video
2011 WCAX Advice
Watch here: http://www.wcax.com
A few more tips:
- Sit down and create a budget
- Divide your expenses between necessary, and discretionary
- Then, of those discretionary items that you can live without, cut 20 percent of those impulse buys to start.
- Take that 20 percent you saved and add it to a savings account, or better yet, a 401(k)
Experts say investing in your 401(k) if your employer contributes a match is one of the smartest things you can do to save for the long term. Let's say your employer matches 2-to-1-- that pretty much guarantees a 50 percent return. And yet, experts say most people don't try to maximize to the greatest extend they can that match.
Melinda Davenport - WCAX News