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WAYS TO MAKE SAVING A HABIT
May 09, 2008 - What's your excuse? When it comes to the sorry state of our finances, we've all
got one.
Maybe your raise at work never materialized, or you charged that unexpected car-repair bill --
or that plasma TV -- to your credit card. Whatever the reason, for many of us, personal balance
sheets could look better. Half of U.S. workers report less than $25,000 in savings.
Even if you've saved more, is it enough to sustain you through a decades-long retirement?
Sure, plenty of consumers now are easing back on spending, thanks to sticker shock at the
grocery store and gas station. But soon enough retailers and restaurants will be pushing
hard-to-resist "recession deals" -- will you be able to restrain yourself? And, what happens to
your budget-minded ways when the economy recovers?
It's time to shake off the "consumer" mantle that politicians and economists are so happy to
drape around our shoulders. Resist their calls for consumers to save the economy, and resist
the advertisements enveloping us in the idea that we need more and more things.
The only thing most of us need more of is financial security. A lot more.
How to get there? Think thrift. For some, it's a familiar idea. For others, thrift implies denial and
deprivation, and that makes for a tough call-to-arms.
So, how to save money without scrimping, be thrifty without feeling miserly -- and maintain
those habits after our economy picks up speed?
Click on the red link above to continue the story.
Source: The Wall Street Journal
May 09, 2008 - What's your excuse? When it comes to the sorry state of our finances, we've all
got one.
Maybe your raise at work never materialized, or you charged that unexpected car-repair bill --
or that plasma TV -- to your credit card. Whatever the reason, for many of us, personal balance
sheets could look better. Half of U.S. workers report less than $25,000 in savings.
Even if you've saved more, is it enough to sustain you through a decades-long retirement?
Sure, plenty of consumers now are easing back on spending, thanks to sticker shock at the
grocery store and gas station. But soon enough retailers and restaurants will be pushing
hard-to-resist "recession deals" -- will you be able to restrain yourself? And, what happens to
your budget-minded ways when the economy recovers?
It's time to shake off the "consumer" mantle that politicians and economists are so happy to
drape around our shoulders. Resist their calls for consumers to save the economy, and resist
the advertisements enveloping us in the idea that we need more and more things.
The only thing most of us need more of is financial security. A lot more.
How to get there? Think thrift. For some, it's a familiar idea. For others, thrift implies denial and
deprivation, and that makes for a tough call-to-arms.
So, how to save money without scrimping, be thrifty without feeling miserly -- and maintain
those habits after our economy picks up speed?
Click on the red link above to continue the story.
Source: The Wall Street Journal
