Savings: 5 Things You're Forgetting to Do
Investing guru Warren Buffett said, "Do not save what's left after spending; instead, spend what is left after saving." It's a wise approach, but one that many of us have trouble following. The instant gratification of a latte, a craft beer, or even a candy bar can trick us into forgetting that saving comes first.
A survey by Slickdeals, a deal-sharing website, found that Americans spend $450 monthly on unplanned purchases. That translates to $5,400 per year and $324,000 over a lifetime. If you took that same $450 monthly and invested it for average annual growth of 7%, you'd have $1 million in your pocket after 40 years.
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Source Fool.com
