Marino on Money: March 30

As Washington debates the Federal budget it’s a good time to talk about managing money closer to home. Are you able to keep money saved? How do you get a healthy savings account? You can do it in three easy steps:

1) *Write down what you want*. We’ve all seen the studies that show you’re much more likely to get your goals if you write them down. But when I ask how many people have actually written down their goals, I always surprised how few do. So, write them down and put your list somewhere where you’ll see it every day, like the mirror, or on your dresser. That way, you’ll see your goals every morning and stay focused.

2) *Make savings automatic*. If you have to remember to save, guess what, you won’t. If you’re worried about short term funds, set up a holiday savings account at the bank. If it’s longer term, use the 401(k) plan at work or automatic monthly savings into your investment accounts. Making your saving plan automatic makes you naturally richer every week or month.

3) *Get help*. Everyone performs better with a coach. It doesn’t necessarily need to be a good financial advisor to hold you to your goals. It could be a trusted friend or someone you respect in the community. By getting help you’re asking someone to help hold you accountable. Knowing that someone is looking over your shoulder will help you build your savings.

If you follow these three steps your chance of success increases dramatically. So do you want to get your savings in order? Get out the pen and start writing!