Ben Franklin said, “Beware of little expenses. A small leak will sink a great ship.” That is still true today of our personal finances. This year America Saves Week is February 22-29. This is an opportunity for individuals to assess their own saving status.
On the America Saves Week website (www.americasavesweek.org) there are many helpful links including ChoosetoSave.org. On this website you will find interesting calculators including a longevity calculator. There is also a calculator to itemize living expenses.
To develop a spending plan, SmartAboutMoney.org shows 10 basic steps to help you get smart about money. This website includes worksheets that help you track your expenses and set smart goals. Tracking your expenses is an important step in gaining control of your finances. It will become obvious where your money needs to go and where those ship-sinking “little expenses”, those, spending leaks need to be plugged.
Submitted by Linda Tannehill, UAF School of Natural Resources and Extension; Health, Home and Family Development, Kenai Peninsula District.
