If you are someone who hasn’t sat down to determine how much money you will need each month when you retire, you are not alone. In fact, according to the United States Department of Labor, less than half of all Americans have taken the time to calculate how much they need to save for retirement. What’s more is that they also report that the average person will spend 20 years in retirement, making it crucial that they have saved for those Golden Years.
“Many people assume that retirement is a long way off, and they don’t get serious about planning for it,” explains Ed Meridian, founder of the Network Advantage Card. “But your financial future doesn’t just have to mean retirement either. It could be next year, or in the next few years. It’s important that we take the time now to plan for our financial future, whether we are planning for next year, when our child starts college, or for our own retirement.”
While it’s easy to push planning aside, many people may find that if they lose their job, their bills increase, or something happens that they didn’t see coming that they wish they had taken the time to make better financial decisions all along. The good news is that it is never too early or too late to get started making better financial decisions. Here are 5 tips for making decisions for your financial future:
1. Look for alternatives. In today’s high-tech world we can find ways to help us save right at our fingertips. Searching around to find legitimate ways to save is easier than ever before. For example, those who become Network Advantage Card members will find ways to save on everything from making health-related purchases to getting advice on a home loan or student financing. Programs they offer, such as Tele-health, where people can speak with a doctor on the phone, rather than have to always have an office visit, can help greatly reduce healthcare expenses and free up money that can be used for reducing debt and saving for the future.
2. Save something. Many people shy away from saving money because they feel they can’t save a lot each month. No matter what it is that you can save, whether it’s $20 per month or $2,000 per month, make sure you are saving money. This will get you in the habit of saving, give you a place to start, and it will all add up over the years.
3. Avoid debt. We live in a debt-driven society, where people have a wallet full of credit cards and bills rolling in each month that are laden with huge interest payments that have been added. Paying down debt and avoiding adding new debt will go a long way toward helping to plan for your financial future. Get in touch with what are needs and wants and do your best to stick to the needs, so that debt won’t be created for the wants.
4. Commit to a plan. Making decisions for your financial future will not mean much if you are not committed to a plan to make a difference. Talking about being more financially responsible and saving money is one thing, but actually putting it into action to pull it off, and continuing to do so long term, is completely another. Get serious about your financial future so that you hold yourself accountable even on the days when it’s not all that fun.
5. Get counseling. While many people can benefit from some financial counseling, it’s often expensive and not always convenient. Opting for convenient financial counseling will help you do a better job of sticking to your plans. For example, Network Advantage Card members get financial counseling as part of their membership, making obtaining the guidance affordable and convenient.
“Better financial decisions and saving money for your family is all about knowing what to do and where to start,” added Meridian. “That’s where we come in. For just $20 per month, we help people save for the future, save on current expenses, and give them the tools and resources they need to live a healthier lifestyle today and well into the future.”
The Network Advantage Card is a membership-based card that helps families stay healthy for just $20 per month. The membership gives people access to discounts on health and wellness programs, special low-cost life insurance programs, travel discounts and deals, lifestyle and entertainment discounts, and a wide variety of health programs that will help them save money. The membership also provides them with financial advising at no additional charge. Those interested in learning more about NAC or becoming a member can learn more online at: https://mynac.com.