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Plan Well, Retire Well

Saving and investing your money

Valentine's Day - Could you save the money you spend for retirement?


Happy Valentine's Day! I was reminded of how much money we spend on extra little holidays as I prepared gifts for my children last night. While the spirit of giving is wonderful and the joy on their faces will be delightful, the money spent was enough "extra" to put towards the long term goal of retirement.

One of the key reasons you often read people do not save for retirment is because they just can't find the extra dollars to save. A good way to find small amounts of money is to take a look at all small puchases you make. For example, a can of soda every day at $1.00 adds up to $365.00 a year. Just look at the $20 I spent for Valentine's Day cards and candy. That money could have been saved too!

If you are trying to save for retirement and just aren't sure where to find that extra amount of money,wrtie down all the purchases you make for a week and track where your money is going. This exercise will help you look at your budget and find little places, perhaps larger items that you might be able to cut out of your expenses and put that money towards your savings goal. For more ways to get started saving, visit the Plan Well, Retire Well website.

So, enjoy the gifts already purchased for Valentine's Day, but remember the next little holiday to think do I really need to buy these items or could that money go towards my retirement savings?



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