Yes ladies, we talk ALOT about fashion & style, but its also important that we work on ways to actually save our money so that we are prepared for the future. Check out some of our money saving tips… so that you will be able to shop in the future!

1. Join a Credit Union

Credit unions typically have lower fees and higher rates. Not to mention credit unions weren’t a part of that whole financial debacle that put us into this tough economy. So how do you get into a credit union? Most credit union advertising is misleading because they refer to their customers as ‘members’, so you think you have to be a part of a special group. And yes, some credit unions are dedicated to teachers or city employees. But, there are many other credit unions that are open to the public. Google a credit union that is close to you, check out their website, and pay them a visit. They will sit with you and explain their products and services and the amount of money you will save putting your money in a credit union. It is something you should really consider. And FYI, your funds are insured at credit unions.

2. Open A CD

A Certificate of Deposit, or CD, is a high yield savings account. Typically CDs have you save a specified amount of money for a specified length of time. A lot of people are nervous about putting a chunk of money in the bank for a specified amount of time, because they want the capability to access their funds at anytime. The thing is, when you’re accessing your funds you will most likely spend your money. Having a CD is great for you because eventually you will forget about the money and start gaining interest. Just an FYI, you can pull your money out of a CD with just a fee on your interest if need be. Start saving your money in high interest accounts.

3. Save 10%

Save a set amount from every paycheck. Start off by saving 10%, and increase by one percent each year. This will add up over time and really come in handy.

4. Automatic Payroll Deductions

Most companies offer automatic payroll deductions. Sign up for them. If you deduct $20 per week, you’ll have over $1,000 at the end of the year that you never saw. If you place these funds into a savings account with high interest rates, you can really add up through the years. Ladies, start saving.

5. Start Your 401K… NOW!

You typically have to wait 6 months at a new company before you can start a 401K. As soon as those 6 months hit…you need to start saving your cash. The plus is most companies match a percentage of your savings.

6. Find Free, Personalized Financial Advice

Find a company that can give you free, personalized financial advice. Many credit unions and banks will give you this advice for free. Because you’re young, it’s important that you set out a plan for your finances. Do not wait until you’re closer to retirement to establish this plan.

Its important that you start saving your cash while you are young. Don’t trust in tomorrow. Start today and allow your money to build over time. Many people put all their trust into that one day when they land their dream job or have the opportunity to sell their business for millions… but if you start saving now and you end up getting the life you want, you could potentially have enough money to pay for a house for your mom without touching those millions you sold your business for. Who doesn’t want MORE?