Today is money expert Clark Howard’s birthday, and he only wants one thing to celebrate: You to start saving for your future.
Clark’s birthday wish: Save money for your financial future
“The best gift you can give me is to empower yourself financially,” Clark says.
Two ways to start saving more money today
- Put $20 in a high-interest savings account: Online-only banks are growing in popularity because they have lower fees and higher interest rates compared to the traditional big banks — and they’re still a safe place to keep your money. If you put $20 in a high-interest savings account every month, you’ll have $240 (plus interest!) to show for it after 12 months. Here are Team Clark’s favorite online banks.
- Contribute an extra 1% for retirement: A Roth IRA is the most efficient place for you to have money grow for your retirement because the money in it grows tax-free and is spent tax-free. If you are already contributing money into a retirement account, try to add a little more each year — especially if your employer offers a match! Don’t worry if you haven’t started saving for retirement yet. You can get started on your way to building a more financially secure future in just five easy steps.
Bonus: Make a budget! Creating a budget helps put YOU in control of your money. Get started here.
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