November is for Savers

Have you found yourself at the end of another year and you still don't have money saved?  Follow these steps to help you get started

  1. Determine how much you want to save and write it down.   

  2. Divide this amount by how often you will put money in savings. It can be weekly, bi-weekly, or monthly, for example.

  3. Open a separate account or use an existing account that has low activity.  

    • When opening a new account, be sure to check the minimum balance requirement, withdrawal limits, and monthly service charge.

  4. Set up an automatic transfer into your account.

  5. If your bank or credit union lets you title your account, do so - for example, Emergency Savings.

 
Having money put aside for specific purposes is a great way to avoid dipping into your "big savings" and incurring unnecessary debt.   Some savings ideas are travel, car maintenance, home repairs, annual dues, a wedding, and hobbies.  
 
Happy Saving!

Grab a free copy of  A Professional Approach to Setting a Savings Goal in 6 Easy Steps Use code O4FTMCK8ND  Offer good through November 30, 2023 

LWilliam, Personal Finance Education

Hi, I'm Lana. As a Financial Coach, I help professionals develop healthy money habits that will last. I educate and work one-on-one with them to create a financial plan that reflects their goals. We structure budgets, implement debt payoff strategies, and create savings plans. I also serve as an accountability partner and support. In addition, I offer group coaching and money management resources, including workbooks and guides, for those who are more comfortable doing it themselves or are not sure they are ready for coaching.

https://lwilliamfinance.com
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