Save Money--Get Financially Fit

Getting Physical Financially
Here are a few New Years Resolutions that will help us save money:
Automatically Pay Yourself First. Before you pay your rent or mortgage, buy groceries or hit the mall, save a certain amount every month or from each paycheck--at least 10 percent. Linda Schoenfeld, a certified financial planner in Charlotte, N.C., suggests this savings breakdown: 6 percent in a retirement account; 2 percent in an emergency fund and 2 percent into a long-term goal fund.
Don't count on yourself to be disciplined enough to make regular contributions to your savings and retirement accounts. Set up autodraft from your paycheck or checking account to fund your retirement and savings accounts.
"Get started saving and then everything else falls into place," said Cynthia Anderson, a certified financial planner in Charlotte, N.C.
Keep some savings in an account you can't easily raid. Paul Boggs, a certified financial planner in Lake Wylie, S.C. suggested keeping some savings in a bank account tat you have to go inside the bank to access. It can be a money market account or regular passbook savings account. Just don't have it linked to your checking account.
Making your cash harder to get to will make it easier to live within your means.
"Out of sight out of mind, so you have to work to get the money out," Boggs said.

Tomorrow: Getting Financially Fit: Part Two

Personal Note:
Yesterday: 8 gallons of regular gas instead of medium grade...savings $.80. Drank water for dinner instead of soft drink or ice tea. Savings...approx. $2.50. Finally a trip to Bilo's: in store savings--$2.00.

Savings as of 1-13-08 $101.67
Savings today $ 5.30

Savings year to date $106.97

Happy Shopping!!!!!