Saving

Saving money is always much easier said than done. The popular and blinding “Treat Yoself” mentality can damage a healthy savings account. As a young adult, your savings will need a little extra TLC. Plan your budget with the mindset of putting some money away in your savings. Sometimes a few pennies may be all you can afford to set aside. That is okay because everything adds up over time. Also, if at all possible, it might be a good idea to have a personal savings account and a separate “rainy day” fund. A “rainy day” fund could be for any unexpected costs that might come up at random and inconvenient times. Planning ahead for those types of expenses can save you the stress of re-budgeting and protect your personal savings account.The goal should be trying not to withdraw from your savings as that should be an absolute last resort. Also look ahead and plan for possible financial changes at the start of a new year, on both a personal and national level. Make sure you plan for fluctuating interest rates or new taxes as every year brings something new and different. Stay on top of your budget and reevaluate as needed to prevent financial surprises.Saving now will help with your financial security down the road.