You need to be doing one of two things: Either paying off your debt or saving for your future. RIGHT NOW.
If you have income, you need to either get out of debt or put a little money away for saving (or spending!)
I can not entice you with promises of how great it will be when your wrinkly-ass wants to be at the vacation home for your retirement years in Florida with the grandkids- but I hope I can help you realize that in 6 months, that microwave/wedding/vacation/new Coach Purse isn’t going to pay for itself and it sure as hell is not going on a high-interest credit card!
You will hear over and over again that you need to save for the “unforeseen problems” that are bound to happen as you age. Well, screw that. I’m here to tell you that you need to be saving for the problems you TOTALLY SEE coming in the next 6-12 months and will save you from the agony of paying 12-18% (plus late fees) on it.
In my previous finance article, I asked you to be aware of your present spending habits. Now I’m asking to couple this awareness with thought about the not-so-far-off future, with purchases that are tangible. Sure, you could get more excited about a new pair of Jimmy Choos, but I think you’ll get just as excited about replacing a crappy coffee maker if you know it’s paid for in cash and you don’t have to go on living without it.
You know you have purchases coming up, or perhaps you’re already sweating about what you already bought. Stop fretting (or avoiding) retirement planning, and get your youth out of the sinkhole!
Resources on the Interwebs:
SuzeOrman.com– Her website is great, but check out the free podcast of her show or her fabulous gender and genre specific finance books.
Up next? This may sound counterintuitive, but I will soon be posting my FAVORITE links to finding designer duds for stupid-cheap.