Collect all your spare change and put it straight into a savings account. It might be just a little, but it will all add up! Also, if you do rebates or even surveys, put this "extra" income into your savings to help boost your account even more!
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With interest rates low, we have searched online for the best APY's we can find, but they are still rather pathetic. So we found some stocks in old established companies that pay dividends yielding anywhere from 5 to 15% annually. We chose companies that have low volatility, not caring much if the stocks increase in price. We are using them like a savings account we will touch only in an emergency or if dividends stop. We set our account to buy more shares with our...(click title for more info)
..dividends. We haven't risked all of our savings in stocks. We still have money market, savings accounts, CDs, mutual funds, IRAs & a 401k, but use dividend stocks as one more tool to increase our savings.
Do your research. And remember that there is no guarantee or FDIC insurance with stocks.
Many emloyers give annual evaluations and merit increases. If you are in this group....each year you should save 1/2 of your raise. Either increase your 401k contribution by 1/2 of your merit increase or put those monies in a savings to investment vehicle! It will suprise you what you will have in a few years!!303
When I was 6 years old, my mom started saving $5 each pay period (every 2 weeks) in a savings account. Every year she doubled it until she increased it by a small amount until when she retired she was saving nearly $500 per pay period.
Start small but save SOMETHING every week. It adds up!!
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