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Savings

Review Your Savings Accounts

In September everyone and their mother came out with their 10 Best High-Yield Savings Account list. I normally just scan the list, because for the past several years my bank has been listed at the top. However, this year I noticed my bank didn't make all the list. Hey, don't judge me. Yes, I'm one of those people who actually do know the yield on their savings account and check to make sure my money is working for me.  

Read more: Review Your Savings Accounts

A Workable Plan to Save for That Vacation You've Been Wanting

I had an interesting discussion with a friend who wanted advice on how to save for a vacation. She soon became frustrated with me. Apparently I wasn't feeling her pain. She had read a lot of articles, but they weren't helpful and it seemed I was falling into the same category. The first step I believe she had correctly. She set a goal.

Read more: A Workable Plan to Save for That Vacation You've Been Wanting

How Much Should I Really Save?

Every book or article you read about money says, “SAVE”. But how do you really determine how much to save? I’ve been doing some research and there are all kinds of theories out there. One theory is save 10% of your income. So here come the questions; is that gross or net? What if I don’t have 10% left after my bills? Another theory is save until it hurts. If you’re not hurting from saving you’re not doing it right. Really? Saving money is not a punishment. Here’s the deal. Saving money is just simply a good financial habit. Research shows over and over again that higher income people are more likely to save than lower income people.

Read more: How Much Should I Really Save?

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2215 S. Wolf Rd. Suite 224 Hillside, IL 60162
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