save for, one, just having the emergency money for that stuff that just comes up. let s talk about short-term savings first. again, automate it. if you wait until you ve paid your other bills, there will not be anything left at the end of the month. many companies will allow you to set up from your paycheck, just like for your 401(k), an automatic draft into a credit union or money market, whether it is $5, $10, $50 each check, you can t touch it if it is an emergency. do what you can afford initially. you can start with the goal in mind and work back monthly as to what you need to reach that goal. second one is longer term savings. we have talked about this before. but, of course, the easiest way to save lofng-term for retiremet is if your company has 401(k), pretax, before that check even hits your bank and that is a good thing. so if you re not investing in your company s 401(k), start.
CNNW CNN Newsroom January 1, 2012
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