Having trouble adding funds to your savings account? Or perhaps even having problems dropping coins in your piggy bank? Quite a lot of Americans do have that problem and even the government knows that. That’s why the 2010 budget would prompt employers to set up a mandatory retirement savings plan for employees. Employees have to opt out to not participate but that’s a bad move.
2010′s quite near but there’s no reason for you not to look for means to save. If you’re having problem managing cash on hand, here are a couple of alternative saving methods.
401k. If your employer is providing this service and you’re not in the program, better get on with it. It allows you to put aside an elected percentage of your salary every payday. That means that you can scratch it out as part of your spendable income but you continue to save. Employers might not be matching your savings but once the economy takes off again, many are considering matching again.
Another way is to bloat your tax withheld. This is quite similar to how the 401k works as far as your perception of money is. You send Uncle Sam a larger portion of your income but you’re bound to get it back as part of your tax refund. It’s shorter in term compared to 401k deductions but at least you get to unconsciously put away money.
Source: WSJ
