Budget tips

You've probably heard this all your life, but saving for the long term is very important.  It's not about greed and wanting to have a luxurious retirement, it's about being financially responsible.  Think of it this way: there is probably going to come a day when you are unable to work.  Do you want to be a burden to your family, or do you want to still be able to provide for them?

It's important to save early and often.  If you're in your 20's, you're in the golden time for saving for retirement.  Save as much as you can in these years.  Why?  It gains interest and the interest gains interest.  Albert Einstein is attributed as saying, "Compound interest is the most powerful force in the universe."  The earlier you can get money in a good investment plan, the more years it will have to gain interest.  If your company has a 401(k) plan, take advantage of it!  I've found it easiest to save by having it taken out of my check automatically before I even see it.