Spring into Savings mode this Summer
What ever your plan is to earn money this summer, develop a savings plan! The general rule of thumb is to follow the 70-20-10 rule. Spend 70% of the money you earn, save 20% and invest 10%. Believe me, saving is very difficult for many of us because that means we have to make sacrifices when it comes to our wants. For example, if you make $100 a week this summer try to only spend $70 of each pay check and save the remaining money. You will be amazed at how fast it adds up! Also track and evaluate your spending- where is all of your money going? Decide how much you want to put into savings each paycheck and stick to it!
Keep your self busy this summer working hard at building up your savings account! Savings accounts are an excellent safe place to keep your money. Visit your nearest Financial Center to set up your savings account and start today!