This Woman's Technique For Saving Is Amazing For Its Power And Simplicity
- 4 years ago
Business Insider contributor Bethany McCamish's aunt is super-smart with money. Now, she wants to share her aunt's simple technique for amassing bucks.
McCamish admits she approached building her own emergency savings account by trying to save 'whatever was left' at the end of the month.
Years of using that technique presented irrefutable evidence: it doesn't work. At all. Ever.
Finally, she tried her aunt's technique. She wrote a check to her savings account just like she paid any other bill, no matter what.
Her aunt now has a $45,000 emergency fund, a fully funded IRA and ROTH-IRA, a 401(k), and a pension fund. Now 62, she can retire comfortably.
Think of yourself as an investment, and this means saving first. Kathy McGlaughlin
McCamish admits she approached building her own emergency savings account by trying to save 'whatever was left' at the end of the month.
Years of using that technique presented irrefutable evidence: it doesn't work. At all. Ever.
Finally, she tried her aunt's technique. She wrote a check to her savings account just like she paid any other bill, no matter what.
Her aunt now has a $45,000 emergency fund, a fully funded IRA and ROTH-IRA, a 401(k), and a pension fund. Now 62, she can retire comfortably.
Think of yourself as an investment, and this means saving first. Kathy McGlaughlin