FINANCE


Stop Right There, Big Spender! Consult a Savings Calculator


es, a savings calculator is an in- valuable tool when you’re trying to determine the best ways to save and how much you can end up with after you’ve invested. But a savings calcula- tor can also be used to help you curtail unhealthy spending habits. Maybe you don’t feel like you have control over your inandout oney ow due to the many disorganized bills, payments and oter finanial fator in your life Or perhaps you have a shopping ad- diction and impulsively buy items that you don’t actually need, beyond your realistic means. In either event, a sav- ings calculator may come in handy to help you make accurate, wise deci- sions about what you’re doing with your money. Each time you consider how you


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should prioritize your funds or you’re on the brink of making a big purchase, you can think about other ways that you could apply that money. Some- times, spending problems stem from te intant gratifiation tat buying can provide. You can channel that ipule by iediately figuring out how much money you could make in te net one five or ten year troug a quick and easy savings calculator. You can see how that money could grow with time through any number of savings initiatives, ranging from a traditional savings account to the stock aret to a fulledged individual re- tirement account.


For example, today’s money that


ould buy you a gorgeou outfit or ay new ar igt atually buy an ensemble plus shoes or a newer, nicer vehicle in a year or so. Because many items bought on impulse are the ma- terial types that decrease in value over time, seeking ways to put off your spending is a healthy route to guaran- tee finanial eurity In effect, by saving up you’re actu-


82 HISPANIC NETWORK MAGAZINE


ally using your money to buy more money, just a little bit down the line. f youre in eriou finanial trouble saving for a while and making mini- mal payments to important areas – like credit cards and your house payments – may mean that you have more mon- ey to invest more wisely and help you get out of a tricky situation. And it may actually be faster in the future if you wait.


For other advice on how to use money-conserving tools like a savings


Celebrating 19 Years of Diversity


calculator, be sure to meet with a rep- resentative from your bank or another profeional and trutworty finanial advisor. Specialists are available for credit consolidation, mortgage assess- ments and spending addictions. Get- ting your affairs in order may be the best application of both your time and your money – both for your day-to-day management and for your future.


Source: articlesbase.com www.hnmagazine.com


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