The Kitchen Table

February – the month of Love.What better way to show love for your spouse, significant other, your children and all those in your life that you love, than to be a savvy saver for your future & theirs!

We start with good intentions.It’s a new year with new resolutions.We make a commitment that this is the year we will start saving for our future. But what happens when we have an unexpected expense. The first line on the budget that we dive into is our “savings". It's the easiest one because no lender, utility company, or landlord will be giving you a call if you don’t make the payment to your savings account. Only “YOU” can commit to “Love Your Future!”

Here are 3 tips to help you become a better saver for your future:

• 1.  SET UP AUTOMATIC RETIREMENT CONTRIBUTIONS. If your company offers a 401K match you don’t want to miss this opportunity. Not taking advantage of a “match” is leaving money on the table. Most companies will auto draft these payments for you. It's already gone to your “future” before you even see your paycheck. Even if you can’t save 10%, start with something. One percent is better than nothing at all. At least you have gotten yourself started! If your company does not offer a 401K find yourself a good financial advisor that you trust and get an account started for your future. Companies with direct deposit will often allow you to send money to multiple accounts. 

• 2.  BUDGET!It you don’t have one, get started. It's impossible to know where your money is going if you don’t track it. There are many great websites and smart phone apps to help you get started with a budget. Mint and Goodbudget are a couple of options.If you are computer savvy you can simply set one up on a spreadsheet. Whichever method you choose – get started! 

• 3.  FINALLY – PLAN YOUR SPLURGES! There is nothing wrong with doing something special for yourself or your family. The important thing is to plan them out, whether once a week or once a month. Budget in what you can afford to spend on the item or event.

Start today! Take at least one step each day and “Love Your Future!”

*Employees of LPI Loans and our affiliates are not attorneys and LPI Loans DOES NOT provide any legal advice and users of this web site should consult with their own attorney for legal adv ice.