‘Saving’ is something we think about when we are shopping. It feels wonderful to pay less than we expect for food, clothing or even a larger purchase like a car or a trip. Certainly you know that ‘words’ can have more than one meaning. To ‘save’ can have many meanings.
Save a Little…
Interest rates are quite low in a savings account at your local bank or credit union. Are they really? You would be surprised at how your account would grow with regular deposits. It it took six months or a year to get to an amount that could be transferred to an investment company, it would be worthwhile.
Most people today do not consider putting money in a savings account. It is old fashioned. It is time to get back to basics. The cost of living is higher than ever, and our wants just keep getting bigger and more costly.
Just as costs add up, so can the little bit of money you tuck away here and there. It is time to start paying yourself before you pay anything else. Just a little can really add up.
Earn a lot!!!
When your savings account grows to $1,500, it is time to connect with one of the many investment companies. Most companies require a minimum of $1,500 to open an account.
It is time to make investments that will ‘earn’ interest, dividends, capital gains… Thus, stock, bonds, and mutual funds for example, are all good ideas. You can do it yourself, or ask for help from an investment advisor.
All the investment companies offer assistance over the phone or have offices locally. Investment fees can be reasonable. Nevertheless, it is time to let your money earn you money.
Before you know it, your money will grow. By then you have become accustomed to paying yourself. You get a refund from your taxes or a bonus from work. You consider investing a portion always. Saving becomes a habit just like spending.
Your money continues to grow while you gain knowledge and experience with investing. You may even develop an opinion about investment vehicles you prefer or feel comfortable with.
It’s Time to Save NOW!!!
Let the ‘Pros’ at ACCOUNTING Pros Michigan suggest and encourage you and your family to save now. You will be able to afford those trips you and your family dream of or buy that new SUV you saw at last months’ Auto Show.
Call 313-318-9444 for a complimentary appointment or leave a message at www.accountingprosmichigan.com. Let me give you direction and suggestions to save a little, earn a lot!