26 March 2009

Tip of the Day March 26, 2009

How much should you save?

The short answer is as much as you can. What does that mean? It means different things to different people. However, no matter how much money you earn or how many expenses you have, you will always save more if you pay yourself first.

The suggested amount is 10% of your gross salary, but if you can't manage that, save 5% or 2%. Even saving just $5 a week regularly will help you establish a good saving routine and habits. You can make saving automatic by setting up a regular direct debit from your everyday account to your savings account.

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