In today’s post we we are going to share 3 Smart Money Moves you can make this week (or at least very soon) that will help you win the money game.
While we are keeping the list short and sweet, we believe you’ll be very happy with where these moves will land you financially speaking.
Let’s begin.
1. Add To Or Plan Out Your Emergency Fund
Not having a emergency fund is a emergency in and of itself.
“If you don’t have a plan for your money someone or something else will”.
ASAS Words of Wisdom
We recommend having at least $1000 in your emergency fund. This will serve as a decent buffer against many of the things life could throw at you.
If you want even more financial security, aim for a higher goal of 3 months of expenses saved up in a emergency fund.
Lastly if you want life-changing peace of mind with finances, aim for 6-12 months of expenses saved up. It’s a lofty goal, but it will remove a incredible amount of money-related stress in your life.
2. Automate Deposits Into Your Savings and Investment Accounts
Automation is a modern marvel, and one that should be utilized by all.
This has truly been a game changer in my personal finances as I automatically invest in several areas:
- Roth IRA
- Wealthfront Investment Account
- Employer 401K
These are things I “set and forget”.
I select a reasonable amount that I’m comfortable not “taking home” in my weekly checks, and choose to put that in a place where it can grow.
Pro Tip: The amount doesn’t have to big large (relatively speaking) but it does needs to be something you can consistently do every week, every month, etc.
3. Take Your Employer’s 401K Match
401k’s are retirement accounts offered by employers.
They offer their employees the option to invest part of each paycheck for them, and many employers offer what is called “Employee Match”.
Typically, employers match a percentage of employee contributions up to a specific portion of the total salary.
Occasionally, employers may elect to match employee contributions up to a certain dollar amount, regardless of employee compensation.
“Your salary is not the only benefit of your job. Speak to your boss, HR Department, etc. to see all the programs that are available to employees”.
ASAS Words of Wisdom
A 401K that is invested in early, consistently, and over a significant duration will set you up nicely for a great financial future.
Don’t neglect to invest in your 401k up to the exact amount your employer will match.
Doing anything less is leaving free money on the table.
Conclusion
We hope you have found today’s post helpful.
These are 3 simple money moves you can make that will greatly improve your finances.
Always remember that being wise with your money is the key to having enduring wealth.
Wisdom is the ability to use knowledge in the right way.
“You earn money with your time, so don’t be in a rush to waste either one” .
ASAS Words of Wisdom
Until next time, yall have a good one.
- Blog Bites – Send the Invitation Instead of Waiting To Be InvitedYou would enjoy seeing your friends more often. You want deeper relationships. You may even feel disappointed that nobody has planned anything recently. But have you sent an invitation? It is easy to wait for someone else to make the first move. Being invited reassures us that we are remembered, wanted, and included. The problem…
- Why Adult Friendships Drift—and How To Strengthen Them AgainThere may not have been an argument. Nobody announced that the friendship was ending. The calls simply became less frequent. Plans were postponed. Messages took longer to answer. Eventually, someone who once knew the details of your everyday life became a person you mainly remembered through old photographs and occasional social media updates. Adult friendships…
- Gifts, Gratitude, and Clutter: How To Give and Receive More ThoughtfullyA gift enters your home with good intentions. Someone saw an object, thought about you, spent money, and presented it with care. You may appreciate the gesture. You may love the person. You may also have no use for the gift. That creates an uncomfortable conflict. Keeping it feels burdensome, but releasing it feels ungrateful….
- Blog Bites – A Clear Counter Should Still Be UsefulMinimalist kitchens are often shown with completely empty counters. No toaster. No coffee maker. No cooking utensils. No evidence that anyone recently prepared a meal. The space may look peaceful, but a kitchen is not a display room. It is a working part of the home. Clearing the counter should make cooking, cleaning, and daily…
- Minimalism in a Shared Home: What To Do When Other People Do Not Want LessYou decide that your home contains too much. You want clearer surfaces, fewer duplicates, and rooms that are easier to maintain. Then you remember that you do not live alone. Your spouse enjoys collecting books. Your children want to keep every toy. Your roommate does not consider the crowded kitchen a problem. You may be…
Leave a Reply