Explore ways to save
A common excuse for not contributing is that it is hard to set the extra money aside. Creating a realistic budget and seeing exactly how much money is coming in and going out can be an eye-opening experience. After taking a look at your budget, simply setting up automatic contributions that are deducted from your paycheck may make it easier to set the amount aside. What you don’t see you don’t spend, which may help encourage you to live within your means with the money you do end up taking home.
Just do it
Yet another plus to contributing is that it comes out of your paycheck pre-tax, so when you contribute you are essentially lowering your taxable income. That means more money in the bank and less going to the IRS.
Once you’ve been thoroughly briefed on your company’s matching retirement policies, the ball is in your court. Don’t hesitate—take advantage of that free money!
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