Since this is the Friday MELANGE, I wanted to ensure you all that topics will not always fall in the Finance or Insurance categories. Some weeks I might get into various subjects on family, work, church, and yes, even politics. That being said, I would like to build upon last week's SAVINGS post...
Did you know? (from a Pew Research Report):
- 77% of Americans describe themselves as people who look for ways to save money
- 63% of Americans say they don't save nearly enough money
- 25% of Americans say they spend more than they can afford
- Items that Americans splurge on: food/restaurant dining, entertainment, recreation, shopping and personal items
- However, the Personal Savings Rate has hit a record low: -0.4% of disposable income is being saved...the first time in this nation's history that the savings rate is negative.
I don't want to continue to throw numbers or just regurgitate another research report's findings. What I want to do, though, is create a sense of urgency with you all to create a plan to budget your money and create a savings plan, if you don't have one now. A few days ago there was a good post on Budgeting over at the Mathai Family Blog. Take a moment to read it...there are good ideas and tools that you can put to use.
Susan and I started out slowly on this budgeting and savings road in our marriage. We tried to create different plans, but we were never disciplined enough to stick with it and make it a habit. Slowly, over the years we learned by various failures and successes (probably more failures). Once we found a method we both agreed on, it has made family financial discussions a little more palatable and there is a defined goal in front of us. I'm proud to say that with Susan's persistence and my eventual buy-in, we are debt free and have a savings plan that allows me to start my own business. Believe me, finances can be a burden or they can be a blessing, we have experienced both...it's the everyday choices you make that define you and your future.
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