9 Year Mortgage: Savings Setbacks to Overcome
9 Year Mortgage encourages you to put a percentage of your income into savings each month. Putting money away for a rainy day can be a difficult task for most people; individuals and families are bombarded with expenditures that seem more pressing and necessary than saving. Those who don’t make savings a priority generally wish they would have later on.
While there are countless expenses in front of you, savings should be one of the first you make and changing your mindset about savings is a good place to start the process. 9 Year Mortgage recommends you direct a percentage of your paychecks each month towards your savings before any other outgoings because etiquette savings is crucial.
There are never-ending justifications for not putting money away for later. 9 Year Mortgage has compiled 10 of the unsound reasons why people put off preparing financially for the future through saving:
Money is too tight right now
If you can’t afford to save then you may be living beyond your resources. It is easy to feel your hard work merits a certain luxuries but, if these luxuries are making saving difficult, 9 Year Mortgage encourages you to downsize until you can afford to prepare for your future. Keep your car and mortgage debts low enough so you can maintain your ability to meet your saving goals.
Once I’m making more I’ll save
You might be approaching an increases in pay but, don’t count your chickens before they hatch and don’t wait for a promotion in order to build your safety net. Often as your income increases so does your spending. Begin putting money away on your current income and you will be more prepared for whatever comes up in the future and will have the habits in place to continue an already established savings regiment.
It’s too late to start saving
Whatever your age may be, begin saving and don’t dwell on previous financial mistakes. Just do your best to save for whatever your next phase in life holds. Start today.
I’ll wait for my inheritance
As life expectancies increase, more of your potential inheritance may be needed. Be aware that your inheritance could be altered by the necessary costs of ongoing attention for the elderly parent or loved one.
My kid’s tuition cost are more important
Helping your child gain an education is an excellent objective that should be saved for from the get go. If paying for your child’s studies comes at the cost of your financial stability then you should discuss with your child other ways you can help support their education such as paying a smaller portion of their tuition or housing, helping them find scholarships or summer jobs.
My grown up child needs financial assistance
Allowing your child to maintain a way of life that doesn’t fit their income can be harmful for both of you. Use discursion when helping your grown children financially and avoid harming your retirement when you choose to assist them.
My savings account doesn’t produce very much interest
Putting money in savings may not earn the kind of interest rate that more risky investments might however, 9 Year Mortgage advises you to have money in savings so it’s accessible when you need it. After your savings is established you can comfortably seek investments with higher returns.
I need to update my electronics first
New technology can potentially increase your productivity but upgrades shouldn’t be getting in the way of savings. Keep in mind that financial stability comes from putting necessities before the improvements you’d like to have.
I’ll borrow equity when needed
In unpredictable economic times 9 Year Mortgage hopes you will not rely on the housing market alone, instead have a more complete plan for emergencies and the future.
I’ll be compensated If I lose my job
It’s impossible to tell the future. Layoffs could mean that your company won’t be in a situation to honor severance obligations. We advise you not to keep all your eggs in one basket and to have an emergency fund available in case of a catastrophe with your employment.
9 Year Mortgage hopes you will avoid these excuses to not better yourself economically and instead, take opportunities to increase savings and work towards and comfortable future.
Will The 9 Year Mortgage Plan Work For Me?
To learn more about 9 Year Mortgage, and to find out if you qualify for the 9 Year Mortgage program. Find out how soon you could be completely debt free, including your mortgage, with the 9 Year Mortgage Financial Plan. Find out what thousands of satisfied clients already know about taking control of their finances, and using the power of reverse compounding interest to beat the banks at their own game! 9 Year Mortgage representatives are standing by to answer all of your questions about our program, including how soon you will be debt free, and how much money you will save in interest! For more great money-saving ideas visit 9 Year Mortgage on YouTube or go directly to the 9 Year Mortgage Money Saving Minute. 9 Year Mortgage recently launched their Eliminating Debt with 9 Year Mortgage site , which is also full of valuable, free information.