The Street Articles

  Around this time of the year, many people start to make resolutions – things they want to start doing or stop doing, to improve their life. It is not uncommon for saving and investing more to be in people’s top five resolutions.  Not sure what your new year’s money resolutions should be? Here are some ideas.   Commit to paying yourself first  When you get your paycheck, many people often spend first and then save what is left over. The problem with this is that it doesn’t guarantee any regular savings; your savings could become dependent on how much you spend each month (and often in an unplanned fashion).  In 2021, strategically pay yourself first by setting aside a fixed percentage of your income towards saving and investing (for example the 20% from your paycheck), and then spending with what is leftover.  If this is your resolution, then automation is your friend. You can set the money straight out of your spending account before you have a chance to spend it. Setting up a recurr