Start Your Long-Term Investment Planning Today

When you and your family are just starting out nothing is more important than to establish a financial plan for savings and long-term financial solidarity.  Even though at this point it seems as if every penny you earn must be spent on immediate essentials, in fact this is the best time in your lives to start a program of savings and investment that can serve as the base for your family’s financial future.

What is the best strategy to go about this?  One thing to do is to make a list of essential items for which you want to save money.  “Essential” items do not include things like home purchase or car buying, although these items can certainly be objectives you want to include.  In truth, the real essential items are things like college education for your kids, retirement plans for yourself, and long-term health and financial security.  All require not just “saving for a rainy day” but true investment plans that grow at a rate that makes it possible to cover future expenses.  Establishing long-term investments like a 401k plan for future retirement should be done now.  You may think, “Oh, I’m just 25, I don’t need to worry about that for 10 years at the soonest.”  But that is just the kind of thinking that will result in finding yourself short of cash later.  It’s better to save a little now than to try to pack it all away in a single bundle later.

Another strategy you can follow is to take advantage of membership programs and savings opportunities from major retailers like Macy’s.  When you are a regular Macy’s shopper you can save significantly on big-ticket items like appliances.  And you can take advantage of deals using Groupon coupons that can get you savings like 60% off on designer outerwear or 71% off on women’s select cashmere sweaters.  By taking advantage of Groupon coupons to save on purchases you will have more money to invest in long-term savings accounts.  If you save $25 each time you use a Groupon promo code you will have that much more to investment.  But you must begin now and keep at it faithfully – no skimping!  If you do so, you’ll be rewarded with the ability to go places where you can wear that Macy’s wardrobe in style.

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