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Keep Reading:6 Genius Things All Wealthy People Do With Their Money
How Much Do Americans Save?
Bureau of Economic Analysis, Americans are only saving about 3.5% of their paycheck.
While these numbers seem lowits the current reality ofmost younger Americans.
How Much Should You Have Saved At Age 30?
The answer to this question is more about your financial future thanhow much you have savedso far.
This is nowhere near your $2 million goal.
This is much closer to your goal.
And while this may sound like a bummer, you oughta reframe how you think about budgeting.
Creating a budget based on your fixed and variable expenses can give you a baseline to work with.
Negotiate Your Bills
One way to quickly save more is to simplynegotiate your monthly billslower.
The money you save can be redirected toward your savings and investment goals.
Automate Your Savings
One way to confirm you save money no matter what is automation.
This will help you save $1,300 in a year without even thinking about it.
Opening a high yield savings account can help your money grow faster.
check that to shop around for thehighest APY.
you’re able to set up automatic contributions straight from your paycheck.
This lets you invest automatically every time you get paidand can save on taxes too.
Thats an extra $1,000 without doing anything more than contributing to your 401k!
The faster you pay these accounts offthe more youll have tosave and invest.
But if youre not there yetdont worrythere are a ton of things you might do to catch up.
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