A Plan for Your Future Begins Today

The money you have today will shape what your tomorrow will be. As tempting as it can be to indulge and as frustrating as unplanned expenses can be, there are really no...

excuses for failing to save for the future. If you're looking to make some changes today (and we do mean today), you have to be ready to think ahead. No matter where you are in your debt settlement program, learn more about how credit card debt and saving for the future don't have to be mutually exclusive concepts. 

The Truth About Saving 

The numbers vary depending on which survey you check, but there are a lot of people out there who aren't saving any income whatsoever. One survey 21% have no financial cushion at all, meaning they wouldn't even be able to afford a $400 car repair or medical bill. Without an emergency fund, it makes it that much easier to fall back into a perpetual cycle of debt. 

The reasons why people don't save are an undeniable reality to those struggling with their financial decisions, but those reasons ultimately aren't relevant to your child's college tuition or your looming retirement. Experts recommend putting away up to 20% of your income toward retirement alone. In the meantime, only 16% of people are putting away more than 15% of their income in general! 

It Doesn't Have to Be Overwhelming 

We know how depressing these stats can be, especially if you're in debt and feeling strapped for cash on a regular basis. But financial stability can begin as soon as you're out of debt, and maybe even before. 

Having a plan in place right now can do wonders to start turning things around. Much of your success in life is just what you pay attention to and what you don't. Taking some time out to devote to your expenses, as uncomfortable as it can feel at first, is the best way to get the success you're looking for.

Start looking: The first step is to write out everything you spend money on. Try to do this without judgment at first. Whether it's junk food or entertainment, record every cent for a week or two. This part of the plan helps you see how you can start cutting down — even if it's only a few dollars week. 

List alternatives: Saving $5.00 can be as easy as researching different options for the necessities in your life. Look for sales at grocery stores and start buying in bulk. See if your cell phone carrier offers a cheaper plan. Price compare for different auto insurance carriers to see if you qualify for better rates. 

Take advantage of opportunities: Customer reward programs, community yard sales: there are plenty of ways to start carving out a few extra dollars for yourself. These efforts take more of your time, but your future is worth it. 

Step up your DIY skills: From dinner to soap, there are ways you can make your own products instead of having to spend your money. You should also be improving your maintenance habits. It only takes a few minutes to clean out your vents or replace a filter. This will help your heating and cooling systems run more efficiently, which can lower the costs of your utility bills.  

Century understands the realities of debt, but we also understand that saving is well within your reach. Once you've completed your debt settlement program, these tips can help you save for the future and become better prepared for unexpected expenses.  You have so many reasons to save, and the more you commit to each tip, the more those habits will spell big bucks in your future.