Pay Yourself First - Saving

Saving requires you to change your habits and perhaps those of your family.

Debt can be a tool to help you achieve your dreams of home ownership, starting a business, or a college education for yourself or your kids. But if used improperly, debt can really mess up those same dreams. If you have "bad" debt, make every effort to get it under control before it takes control of you. 

Saving requires a lot of work on your part, work that will continue every day of your life because you to change your habits and perhaps those of your family. They like eating out at McDonald's and getting the Happy Meal toys, and you're going to have to say no and appear to be the bad guy on occasion---not an easy thing to do.

The following is a savings chart that will give you some idea as to what your savings can do for you in the future, I chose a 10 percent return, which is moderately aggressive, and a 20-year time span, If you invest your savings in your 401(k) plan or it you use one of the new 529 college savings plans that allows the money to grow tax-deferred for the kids, you can see what some small changes can produce over time. Instead of heading to McDonald's twice a week, cut it back to once a week , and you could have $25,000 in the college fund. I'm not asking you to give up your bottled water, Just chop for it smarter and buy it in bulk, and you'll have $31,400 in your retirement nest egg. Make small changes in you lifestyle, and it will add up over time to more than small change!