← 4/11: 11 Ways to Get Your Money Right for the New Year

saving and investing

By Elayne Fluker | Published January 10, 2011 | Full size is 1000 × 667 pixels

11) The truth about saving: When it comes to savings you have to do what makes you comfortable. But the more, the better. There was a time when people said that having six months worth of your expenses in emergency savings was adequate. Now, most advise 9-12 months. “What I was taught is to save a third of your paycheck,” says White. “At least do 10%—but that’s just for your savings; not part of your investment.” If taking money out of your paycheck and placing it into your savings each pay period is difficult for you, White says to arrange for the money to go into your savings directly—this way you never see it and don’t have to touch it. “Put it in your savings account and forget about it—until you need it.”

11) The truth about saving: When it comes to savings you have to do what…

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