Spring Forward… Money Management Tips – Day 12
To calculate how much you need to save to achieve a financial goal, divide the amount you need to save by the time (e.g., number of months) you have left to save. If, for example, you want to save $5,000 by next year, you’ll need to put aside $416.67 ($5,000 divided by 12) a month, or $96.15 ($5,000 divided by 52) a week. Become an American Saver at http://bit.ly/gliVkL.
For more information or to comment on this blog, contact:
- deborah.killam@maine.edu