Comments on: How to Set up an Automatic Savings Plan http://20somethingfinance.com/automatic-savings-plan/ Personal Finance Blog for Young Professionals Wed, 08 Feb 2012 12:45:12 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Top Savings Plan http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-10662 Top Savings Plan Tue, 04 May 2010 12:21:54 +0000 http://20somethingfinance.com/?p=949#comment-10662 While most people yearn for wealth not all will achieve any significant levels of wealth in their lifetime. I am of the opinion that anyone can build wealth, but for most of us building wealth will take time. It doesn’t come to most of us because of our natural abilities or talents or because we were born into a wealthy family. Instead it takes time, patience and perseverance. <a>Top Savings Plan</a> While most people yearn for wealth not all will achieve any significant levels of wealth in their lifetime.

I am of the opinion that anyone can build wealth, but for most of us building wealth will take time. It doesn’t come to most of us because of our natural abilities or talents or because we were born into a wealthy family. Instead it takes time, patience and perseverance.

Top Savings Plan

]]> By: David hogard http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-5078 David hogard Sat, 31 Oct 2009 10:46:14 +0000 http://20somethingfinance.com/?p=949#comment-5078 The advantages of saving money are numerous and the fact that 'money saved is money earned' is now widely accepted throughout the globe. Saving money is undoubtedly one of the easiest ways for amassing wealth. But in spite of being easy, people often fail to save properly. http://letterdash.com/saver/saving-money-for-the-golden-years The advantages of saving money are numerous and the fact that ‘money saved is money earned’ is now widely accepted throughout the globe. Saving money is undoubtedly one of the easiest ways for amassing wealth. But in spite of being easy, people often fail to save properly.

http://letterdash.com/saver/saving-money-for-the-golden-years

]]> By: Andy http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-4546 Andy Fri, 11 Sep 2009 18:54:48 +0000 http://20somethingfinance.com/?p=949#comment-4546 Nice post. As the guy said above, some things are really natural and almost obvious, but it's easier to plan things and think about it when we're able to read it in such a well written post. Thanks a lot man, I'll be looking for your posts in future... PS: Some of these comments are also helpful, I just find this blog today but I'm already enjoying it lots. Nice post. As the guy said above, some things are really natural and almost obvious, but it’s easier to plan things and think about it when we’re able to read it in such a well written post. Thanks a lot man, I’ll be looking for your posts in future…

PS: Some of these comments are also helpful, I just find this blog today but I’m already enjoying it lots.

]]> By: Megan http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-4493 Megan Thu, 03 Sep 2009 20:43:46 +0000 http://20somethingfinance.com/?p=949#comment-4493 I use ING for my online savings, and it's awesome! I have 3 accounts set up- one for each goal. -Emergency- I put $50 in this per month, $25 out of each paycheck -Taxes- I put a percentage of all the extra money I earn freelancing -Couches- I put in $90 a month to pay off the "zero interest for 12 months" deal I got when I bought my couch and loveseat last December I don't do the automatic transfer thing, but I suppose I could for the emergency account. The good thing about these accounts is that there's a waiting period to transfer the money- so I don't spend it on something I don't need, but I can still put an emergency purchase (like an insurance deductible) on a credit card and then pay it off within days. I use ING for my online savings, and it’s awesome! I have 3 accounts set up- one for each goal.

-Emergency- I put $50 in this per month, $25 out of each paycheck
-Taxes- I put a percentage of all the extra money I earn freelancing
-Couches- I put in $90 a month to pay off the “zero interest for 12 months” deal I got when I bought my couch and loveseat last December

I don’t do the automatic transfer thing, but I suppose I could for the emergency account.

The good thing about these accounts is that there’s a waiting period to transfer the money- so I don’t spend it on something I don’t need, but I can still put an emergency purchase (like an insurance deductible) on a credit card and then pay it off within days.

]]> By: Sue http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-3042 Sue Thu, 26 Feb 2009 17:04:57 +0000 http://20somethingfinance.com/?p=949#comment-3042 Years ago, when our friends daughters were getting married, I asked, "where does the money come from for a wedding?" I had been saving for college expenses, but saving for wedding expenses was a new concept ... to me. I opened another savings account with a target amount set aside for each of our three children. With time on our side, saving was relatively painless. Our oldest son married in January 2009. The savings allowed us to enjoy the celebration stress free. By having a target amount already saved, we had our budget too. When all wedding related expenses are paid, the balance in the account will be gifted to our son and new daughter. Years ago, when our friends daughters were getting married, I asked, “where does the money come from for a wedding?” I had been saving for college expenses, but saving for wedding expenses was a new concept … to me. I opened another savings account with a target amount set aside for each of our three children. With time on our side, saving was relatively painless.

Our oldest son married in January 2009. The savings allowed us to enjoy the celebration stress free. By having a target amount already saved, we had our budget too.

When all wedding related expenses are paid, the balance in the account will be gifted to our son and new daughter.

]]> By: Laura http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-3039 Laura Wed, 25 Feb 2009 23:37:52 +0000 http://20somethingfinance.com/?p=949#comment-3039 Shaun: What a great article. It is good to hear a voice of reason in these turbulent topsy-turvy times. Thanks for the good advice. Shaun:

What a great article. It is good to hear a voice of reason in these turbulent topsy-turvy times. Thanks for the good advice.

]]> By: Shaun http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-3038 Shaun Wed, 25 Feb 2009 23:37:23 +0000 http://20somethingfinance.com/?p=949#comment-3038 I think the length of a mortgage really depends on the financial situation of the person making the payments, and what kind of a house they are trying to acquire. I think the length of a mortgage really depends on the financial situation of the person making the payments, and what kind of a house they are trying to acquire.

]]> By: allen http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-3035 allen Wed, 25 Feb 2009 21:30:52 +0000 http://20somethingfinance.com/?p=949#comment-3035 I, personally, feel that instead of getting a 15 year mortgage, people should get a 30 year: you can still make payments as if it WERE a 15 year, but you have the safety-range, in case something happens. I, personally, feel that instead of getting a 15 year mortgage, people should get a 30 year: you can still make payments as if it WERE a 15 year, but you have the safety-range, in case something happens.

]]> By: Ditech Home Loans http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-3034 Ditech Home Loans Wed, 25 Feb 2009 17:49:09 +0000 http://20somethingfinance.com/?p=949#comment-3034 Another type of automatic savings plan for those who plan on buying or refinancing a home: Provided you can afford the payment, a 15 year fixed rate can provide a realistic goal of living mortgage free, while saving thousands on interest payments, compared to a 30 year loan. Another type of automatic savings plan for those who plan on buying or refinancing a home: Provided you can afford the payment, a 15 year fixed rate can provide a realistic goal of living mortgage free, while saving thousands on interest payments, compared to a 30 year loan.

]]> By: Shaun http://20somethingfinance.com/automatic-savings-plan/comment-page-1/#comment-3030 Shaun Wed, 25 Feb 2009 03:38:48 +0000 http://20somethingfinance.com/?p=949#comment-3030 Allen, Great idea about the sister's wedding. My sister is getting married in a few months, and I just might follow suit. Come to think of it, I need to figure out what I'm going to get her. ;-) I've heard both good and bad things about ING -- I use a local bank. If I went with an online account from somewhere not local, I'd try MoneyAisle.com. It looks like a brilliant little service that lets banks bid for the saver's money. :) Allen,

Great idea about the sister’s wedding. My sister is getting married in a few months, and I just might follow suit. Come to think of it, I need to figure out what I’m going to get her. ;-)

I’ve heard both good and bad things about ING — I use a local bank. If I went with an online account from somewhere not local, I’d try MoneyAisle.com. It looks like a brilliant little service that lets banks bid for the saver’s money. :)

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