If you think you can’t afford to save money, read this

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Sarah SchmalbruchWhether for retirement or investing, it’s one of the most common and basic pieces of money advice out there: Save.So why is it so hard?According to Ellen Rogin and Lisa Kueng, authors of “Picture Your Prosperity: Smart Money Moves to Turn Your Vision into Reality,” it’s because saving money can feel like losing money.“When you start a savings plan — even if it’s for a very exciting reason, like a Hawaii trip — it can feel like you’re losing money,” Rogin and Kueng write. “And we all hate to lose money.”But, the authors say, you can turn your thinking around with a simple mental trick.“Picture Your Prosperity” cites a public opinion survey that asked one group of people if they thought they could save 20% of their income. Only half the group said yes. continue reading »last_img

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