Our Silver Lake Real Estate Agents are sure you’ll be on the same page as us, making a plan for your financial future can be stressful and overwhelming, especially if you have children to think about, students loans or personal debt. A handful of us want to begin saving now, but either we don’t have the resources or can’t figure out a budget that actually works for us.
The great news is, our Silver Lake Realtors say there are an assortment of ways you can plan for the future that won’t financially–or emotionally–submerge you right at this instant. The main thing is to prepare a budget, keep communication open with your partner or spouse, and reach out for assistance when you need it.
Open A Savings Account
Our Silver Lake Real Estate Agents say that having an account only for savings will help you be more responsible with your income. Set an amount you’d like to save back from each paycheck and, when payday rolls around, send that amount directly to savings. Don’t leave it for the end of the week, when your finances will be more strapped.
It’s also a great idea to open up a savings account for your children. Although interest rates are fairly low when it comes to these accounts, you’ll be able to easily see how much you have to put to the side for college or their first car, and when they receive money for birthdays or holidays, you can keep it safe and sound in their own account.
Turn Away Those Toys
Our Silver Lake Real Estate Agents say when there’s an occasion for your kids to get gifts–birthdays, Christmas, bar mitzvah–ask grandparents and other loved ones to write a check in their name rather than purchase more toys.
Ask For Help
It’s okay to accept that you can’t do everything yourself. Sometimes, you have to ask for a professional’s help. Our Silver Lake Realtors say this is especially true when you’re dealing with estate planning and preparing for the care of your children should something happen to you.
Secure A 401K
If you haven’t already, our Silver Lake Real Estate Agents suggest that you ask your employer about a 401K plan, which will take money directly from your paycheck to be put into an account which grows with interest over time. Without these retirement plans, a handful of people wouldn’t be able to live comfortably after the age of 65, and starting early can only ensure that you’re able to put more and more into an account that will be hard to draw from until you’re ready for it.
Have Fun And Make Money
You should strongly consider turning hobbies into ventures that can bring in some income. Have you ever considered writing or blogging for money? You can start your own blog and get paid with ads or look for people and companies looking for freelancers. Enjoy making crafts or jewelry?
Start selling them on your website or through a site like Etsy. Do you like animals? Consider taking on some dog walking gigs. Do you love houses? Our Silver Lake Realtors suggest that you think about getting your real estate licenses and assist people in buying or selling the homes of their dreams! There are plenty of ways to make a little extra income if you think outside the box.
Planning for your future is obviously very important, but it doesn’t have to be overwhelming. Making smart decisions here and there can add up tremendously over the years. Just don’t ever push your future too far out of your mind when it comes to spending and saving. You can do this!