As we move into the second half of the year, refocus on your financial goals by following these personal finance tips.
Start reducing your expenses by focusing on ONE weakness (e.g., dining out, shopping, travel).
Boost your 401(k) by allocating your raise and/or bonus directly into your retirement savings.
Be patient when building your emergency reserve – it takes time to build a reserve to cover 9- to 12-months of expenses.
Reinvent “saving for retirement” and save for life experiences AND long term care expenses.
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REFERENCES:
5 Steps To Develop A Spending Plan
Don’t Let Employer Matching Cutbacks Hurt Your Nest Egg
3 Things to Know When Building Your Emergency Reserve
Saving for Retirement is Old School