When you think about saving money a lot of different things may come to mind. Putting aside money for a trip, a wedding or a rainy day. Lets look at the technical definition of saving:
Saving is the process of putting cold, hard cash aside and parking it in extremely safe, and liquid (meaning they can be sold or accessed in a very short amount of time, at most a few days) securities or accounts. This can include FDIC insured checking accounts, savings accounts, short-term certificates of deposit, or United States Treasury Bills. It can even include FDIC insured money market accounts (but not money market funds, which are not insured). The highest goal for these funds should be to keep pace with inflation but you should avoid risk at all costs.
When you think of saving you also consider ways to pay less for something than it may typically cost in order to maximize you’re your dollars This section will be devoted to giving tips on the different ways to save money whether it be for a certain goal or finding ways to save a few bucks when it comes to purchasing different things whether it be an essential or discretionary expense. We will also address specific goals you should consider saving towards and why. Be sure to leave comments on this post and future post that with feedback and topics that you would like to see addressed.