When you DO need it . . . only use that amount! Don't look at it as something to spend, but to SAVE. If this is a concept you cannot understand - just try it and see! What would you do if this money was not there in your savings? You would find a way. The point is, to SAVE! You keep adding to it.
If after one year, you can keep putting away $52.00 a month, keep doing that. If you can put away more, then do that. DON'T STOP!! If you want to leave it in your savings account knowing it's available right now, then keep it there. There will not be much of a return. You could look for online savings account that will give you a better interest rate. But probably only for the first year.
When you get a good amount, you can invest it. CD's are guaranteed.
Fidelity has been a company that has been very good at what they do.
We were NOT impressed with Prudential. They did not give us much of a return and we had MUCH MORE invested with them and it did not pay off. We got a GREAT return from Fidelity.
Good luck!!
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