for retirement or any savings goal, try being lazy and self-centered
Although we are often told that success is not a digital game.
Save 10% to 15% from the age of 20College fund?
Over the course of 17 years, tuition has tripled and plans have been made for 529.
The problem is that most people are not motivated by numbers, but we are still bombarded with pie charts and percentages when we come up with a savings plan.
What are we really trying to save? Self-
Jae Min Lee, a visiting scholar at Ohio State University, said this is true.
Li\'s research has found that our pursuit of personal achievement can stimulate our savings most.
Think about your value, everything goes back to the groundbreaking study of Abraham Maslow\'s behavior in the hierarchy of human needs.
The most basic physical and emotional needs at the bottom of the human motivation pyramid, with aesthetic and spiritual goals at the top.
\"The willingness to save for personal needs may be a more important motivation than a sense of responsibility (
Such as uncertainty in the future)
Or support the family, \"Li said.
\"Our findings show a positive relationship between more personalized savings goals and savings possibilities that can be used to improve household savings behavior.
\"Those personalized savings goals should include how much money is saved by specifying a certain goal, like\" I need to save $1,000 for Caribbean beach vacations, \"Lee said, instead of unspecified amounts such as \"I need to save as much as I can.
\"People need to focus on some personal things,\" Li said.
\"What will you do?
What is your real goal?
What do you really want to achieve in your life?
I think psychological factors may have something to do with their real savings decisions.
The choice of savings goals reflects the different values of our psychological needs and our own lives.
Lee suggested: \"focus more on your life goals and values. \"Self-
\"It\'s really important to realize,\" she added . \"
\"Encouraging families to achieve more personalized savings goals is another way for financial planners and educators to implement our findings.
\"Focusing on money, how can Financial Advisors help clients achieve specific, realistic and accessible goals?
The former Canadian air force pilot, now a financial \"pilot\" in Winnipeg, Manitoba, Frederick pittrie agrees with the concept that everything is for money.
\"The savings are 20%, the psychology is 80%,\" he said . \"
He believes that most people start with budgeting everything else and see what they leave behind for savings and investment.
\"My problem is that I suggest you tax it yourself.
Make yourself your own mini
The IRS, \"said Petrie.
\"If you are forced to pay taxes, you are more likely to put it aside.
Put 10 cents per dollar where you are unlikely to spend.
Successful savings need to cheer yourself up first.
Reality and accounting are sometimes not simple problems with goals-more of a realistic goal.
\"I used to have clients who wanted to buy a house worth $750,000,\" said CFP Maggie debris in Fenton, Michigan.
\"To do this, they have to cancel all the luxury expenses-holidays, gifts, SPA expenses such as hair, nails, facial treatments and massages, entertainment expenses such as dining out and watching movies.
After reviewing this, they decided that a $300,000 house would be a better option because they could still have these luxuries in their lives.
Although we still have to make some adjustments to them in order to buy a house for $300,000, the changes are small.
\"Overcoming the inertia of savings also means getting help from a friend who will hold you accountable.
\"I\'m not saying that you have to hire a financial professional, but simply that you need someone who can help you achieve your goals,\" says Steve Repak, a financial advisor at Charlotte. C.
Using his military training, he said, requires more than just \"one man\'s army \".
\"Choose a friend or family member with a positive attitude and if you are off track they will give you encouragement and offer some harsh love when needed.
Repak also recommends documenting your progress and sharing it with your partner.
\"Knowing that you have to show someone where you are wasting your money can have an impact on having more money instead of having no money,\" he said . \".
Jeffrey Bogart helps his clients prioritize savings goals and play cards with them.
No, we\'re not talking about Texas poker.
Mayfield Heights investment consultants, Ohio, has adopted a specially designed platform.
There is a goal on each card: buy a car, save a university, buy a house, save a retirement, etc.
\"I asked the client to divide the cards into three piles.
\"The first one is \'can live without life\', the second one is \'want to have, \'and the third one is \'can\'t live without life\',\" Bogart said \'. \".
\"It\'s fun to watch couples decide which cards/goals are most important to them.
Women usually win if there is a conflict!
Lazy work, but 25-year-
Old Rachel blank in Washington, D. C. C.
, Automatically transfer $100 per month from her checking account to an emergency savings account to \"save money during sleep \".
To save money, instead of going to Starbucks most mornings, she chose to make her own beer --
Pack her lunch.
She is not a frugal fanatic, though.
She chose her money carefully.
\"I like to have coffee at home early in the morning, I usually work during lunch time, so packing lunch is working for me,\" said Blanco . \".
\"But I like to exercise so I do belong to a good gym and am happy to pay a higher salary --than-
Average monthly membership fee
Giving up lunch and coffee that I don\'t care too much can make me spend more on things I really like.
She has just passed the Series 65 securities exam, and she is an aspiring investment consultant and blogger at TheDayTradette.
Com believes that \"invisible, Invisible\" is a very powerful saving tool.
In other words, the easier you get your money, the more likely you are to spend it instead of saving it.
\"I personally only keep enough money on my checking account to pay all my bills safely.
Everything else came to a climax.
Generate a savings account in a different bank, investment account or retirement account.
Blanco said that spending money on these other accounts requires \"a headache transfer\" to sell shares and, if it is her retirement account, to pay taxes and a 10% early withdrawal fine.
\"Whether you believe it or not, laziness can be your friend in saving money,\" she added . \". —Hal M.
Bundrick is a certified financial planner and contributor to MainStreet.