saving and spending (Photo credit: 401(K) 2013)
We have a project going to encourage people to increase personal savings by at least 1% more this month. This means that you would add 1% more of your income to your savings rate – so if you earn $75,000 per year in your household and you currently save around $2,250 per year, that’s 3%. Adding 1% more would bring that total to $3,000 for the year, which works out to an increase of only $62.50 per month. Give it a shot!
Below is the list of my fellow bloggers who have written articles showing ways that you can start to increase your savings rate, as well as showing what the benefits can be. Thanks to everyone who has participated so far – and watch for more articles in the weeks to come!
The 1% Mindset – Transformation Beyond Money by Neal Frankle, @NealFrankle
Are You Part of The 1%? by Financial Fiduciaries, @FinFiduciaries
What’s the Worst Thing That Could Happen? by Dana Anspach, @moneyover55
Save just one percent more by Doug Nordman, @TheMilitaryGuid
1% a Small Number with Big Implications by Roger Wohlner, @rwohlner
The Journey of $1 Million Dollars Begins with 1% by Richard Feight, @RFeight
Give Yourself A Raise by Ben Rugg, @BRRCPA
The 1 Percent Solution by John Davis, @MentorCapitalMg
Friday Financial Tidbit-What increasing your retirement contributions 1% can do for your retirement account by Jonathan White, @JWFinCoaching
THE 1% MORE BLOGGING PROJECT by Robert Flach, @rdftaxpro
A Simple Strategy to Maximize Open Enrollment by Jacob Kuebler, @Jakekuebler
Take a Small Step: Increase Your Savings by 1% by Jim Blankenship, @BlankenshipFP