Financial Solutions...
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1. How to much to save?
To determine how much should you save, let me give you some inspiration. Imagine you had saved $1,000 in an investment earning 4%, you could take $40 annually to spend on what ever you wanted for the rest of your life. Imagine the fact that you never have to work again to spend that $40 year after year. This is called the rule of 25. Note: 25 X $40 = $1,000.
Now pick something that you would like to save for to have a certain amount to spend every year. Say a $500 college scholarship in memory of a friend or relative. You would take $500 multiplied by 25 and you would need to have $12,500 saved to provide this scholarship annually. Simple! You can check out this website on Passionate Savings for more information on this rule and more savings tips.
2. Why should you save and how?
You know that you should save money but sometimes your excuses prevent you. So here are some reasons to help you get on the right path...today.
- To be ready for that unpredictable expense.
- To feel good about yourself.
- To prevent using credit cards for life's surprises.
- To stop geting into debt.
- To smooth out your budget.
- To not worry about overdrafting your account.
- To prevent late fees.
- To get ahead.
- To have a safety net built into your life.
- To grow your financial assets.
- To be able to be radically generous.
- To help you reach your life and financial goals.
- To feel the powerful magnet that having money creates in your life.
Here are some suggestions on how to save...
- Start small with say $20 per paycheck.
- Use automatic deductions from your bank for every payday. Let technology help you. Set up an ING Direct Orange Savings Account.
- Use your payroll deductions to deposit it directly to a separate savings account.
- Pay yourself as if it was a bill every month.
- Quit smoking or drinking or gambling or coffee - what ever your addiction and save that money.
- Everytime you go out to eat, tip yourself the same amount as the waiter to put into savings.
- Save your tax refund every year!
...to create abundance in your life! |
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Deborah R Jones CPA 's
Professional Tax Services

- Individual Federal and State tax returns prepared.
- Business Federal and State tax returns prepared.
- IRS and MA DOR tax debt solutions provided.
Call or email us today to discuss your specific tax needs at
Let us make your life less taxing!
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Copyright 2012 Deborah R. Jones CPA. All rights reserved (but feel free to copy it post it, quote it, think about it and forward it on to others)

DEFINE your life goals. IMPLEMENT your plan. THE SKY IS THE LIMIT.
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