Planning for the future. Catchin up on lost time

[grammie]

Payn, good for you! Too many people your age are giving no thought to saving. There are only 2 things I regret...one is not taking more photos and the other is not saving more money. Every other mistake I've made had silver linings (lessons learned), etc. But, when it comes to savings, you can never make up for not saving enough money or for not starting early enough (compound interest). Talk to your bank to get started...they can set up a a savings account that you can have money put into automatically out of your checking account. I think the easier you make it on yourself to save, the more likely it is you will do it. Joan of Arch is right...anytime you make extra money from overtime or working for friends or having a yard sale or anything like that, put all or most of it into savings. You didn't say how your fiance is about money...spending vs saving? This is a discussion you need to have ASAP. If she is a big spender and you're a big saver, a compromise will need to be made. You may even want to consider seperate checking accounts and seperate savings accounts...you could have joint ones too. Money issues are usually one of the top 3 things that cause friction in a marriage so work it out soon. As someone who is currently trying to survive my own financial emergencies (yes, multiple challenges), I can assure you that there's no such thing as too much savings. Most of the advice I've seen suggests you put 3 months worth of income into liquid savings, but I had that much and it wasn't enough. But, it's a goal to start with. Long term savings is very important for you at your age because of compound interest. The money you can make from interest in your twenties will make a huge difference when retirement age comes. Again, ask the bank representative to explain all this to you or research it on line. Save as much as you can but whatever you do...SAVE!!! Most young people I know think that if they can't save hundreds every month, why bother. Even if all you save is $10 a month, do it every single month until you can do more. Make it a habit. Congratulations on your new marriage...I wish you both much happiness!!!

[Payn_it>>>]

Thanks Grammie. I opened my ING Direct account 1.4% APY and its linked to my existing checking. I have $140 in there already and its in my budget to add another 120 next friday (payday)

Schools Credit union declined my app to have my car refid

Thats ok i guess. I'll just stick it out and pay her off.