![]() ![]() If you have high-interest credit card debt or other loans, pay them off as fast as possible! ![]() The chart above shows you the difference time makes when investing $400 a month at a conservative 5% annual return. And the more you put in NOW, the better off you’ll be. You’ll have a solid start as well as be able to cover closing costs and moving fees.ĭue to compound interest, you’ll be MUCH better off if you can start saving for retirement when you’re young. So, aim for saving 25% of the cost of the house. But if you can save up for a good downpayment on your next house, you’ll have smaller monthly payments. Next, for most, a house payment is your biggest expense. ![]() ![]() Save up to pay for your next car in cash!Īccording to Kelly Blue Book, you would save at least $5,200 in interest by paying the average car price $47,077 in cash (instead of a $3,000 downpayment and a 6% loan).Įven if you can’t come up with the entire amount for the car, a hefty downpayment will still benefit you big time. Saving up for this may not be fun, but your peace of mind is priceless. This one thing eliminates your biggest financial fears. Put 6-12 months of cash in an emergency fund. You want to have these covered before moving on to others. To Consider With Good Things to Save Forįirst, these are the BIG things.List of things To Save Up For with kids.Important Things To Save Up For In Life. ![]()
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