A Little Savings, Consistently, Can Go a Long Ways

If you have difficulty setting aside money each month, whether it is for an emergency fund, education, or retirement, the important thing is to remember that time is on your side. This is more evident when looking at real numbers and using your own actual examples. The Financial Literacy and Education Commission has a useful website with several tools at MyMoney.gov. The Savings Tool allows you to see how much you will have in the future if you can just scrape together even $100 per month. Play around with it and use a realistic rate for what you currently receive for your investments. You might be surprised how quickly it can grow with a consistent contribution. It could be just the motivation you need to increase your savings each month.