SAVING

Below I have copied an article on tips for Financial Security but before you read it I would like to make sure that everyone is aware of the 2 ways that you can save for the future with our company. 1. Simple IRA – This is a program that has the same benefits as 401k. This is something that everyone should be taking advantage of. Luke will match up to 3%. You can put a % of your check or a $ amount. Luke is very generous in offering this to us; please make sure that you are taking advantage of it. If you would like more information on the Simple IRA please contact your Area Manager. 2. Savings Account – If you have a savings account you can have a % of your check or a $ amount be direct deposit into you savings account each pay period. (For example: I (Kim) have $30.00 each pay period direct deposit into my savings account. Yvonne has 5% of her pay check direct deposit each pay period.) If you are interested in doing this you need to contact Dana. Kim 5 Tips for Financial Security "No matter how much or how little you make, always save a little bit." This is a variation of "Pay yourself first". It's a reminder that whatever money comes into your life, you can (and should) be setting aside some of it. You cannot afford to overlook your company’s 401K contributions. It’s 3% extra money, in other words, it’s a raise! You’ll never miss that little amount but over time you’ll save quite a bit. "Know the difference between needs and wants." This is key to controlling your spending. When you can't distinguish between real needs and mere wants, you're constantly talking yourself into spending too much. Let’s illustrate it this way: "You need food. You want prime rib. That example is perfect for the want vs. need debate in my head!" "Think of the true cost." Anything you want to buy involves a number of costs. The price tag is just the start. Most of the time, the true cost of the item is too high for me." "Buy quality." Sally Herigstad knows what it's like living on a tight budget. Before she became a certified public accountant and author, she was a stay-at-home mom who at one point fended off calls from collection agencies (an experience she recounts in her book, "Help! I Can't Pay My Bills: Surviving a Financial Crisis." As Herigstad and her husband rebuilt their finances, though, she remembered her mother's advice to buy quality when it counts. "My mom can stretch a dollar farther than anyone I know, but that doesn't mean she doesn't buy nice things. Mom taught us to buy high-quality things at stores that stand behind what they sell. That way, if anything wore out or quit working before its time, she knew she could take it back -- and she often did. You actually save money by buying things of higher quality that last than by getting cheap stuff you have to throw away in no time." "If your outgo exceeds your income, your upkeep will be your downfall." Live within your means, or, more elaborately, "Be careful of adding new expenses to the ones you've already got." "So I'm always asking myself, am I putting out more than I'm taking in?". "If I am, I know I need to turn that around, because it is unsustainable."