Recap of Our Journey So Far (Jan – Apr 2025)
- January: We kicked off the year with clear, achievable financial goal setting using SMART strategies and helpful resources to plan ahead.
- ∙February: We learned how to take control of our income with simple budgeting techniques that anyone can apply.
- ∙March: We focused on emergency preparedness by building an emergency fund to weather financial storms.
- ∙April: We unpacked how credit works and tackled debt with real strategies and tools for a better credit future.
Now, in May 2025, it’s time to take things to the next level: Smart Saving and Investing.
Why Saving Isn’t Enough Anymore
In today’s economy, simply saving your money in a traditional bank account may not keep up with inflation. That’s why it’s critical to understand the power of strategic saving and beginner-friendly investing.
Smart Saving Tips
✅ Automate Savings: Set up automatic transfers to a high-yield savings account.
✅ Use Savings Buckets: Create categories like “Vacation,” “Car Repairs,” and “Home Down Payment.”
✅ Choose the Right Account: Consider:
- High-Yield Savings Accounts – Ally, Fidelity, Marcus by Goldman Sachs, SoFi
- ∙Certificates of Deposit (CDs) – Good for short-term, low-risk goals
- ∙Money Market Accounts – Often pay higher interest than checking accounts
- 💡 Helpful Tools:
- ∙NerdWallet Best High-Yield Savings Accounts
- ∙SmartAsset Savings Calculator
Beginner Investing: Where to Start
📈 Start Small, But Start Now – Time in the market is more powerful than timing the market. Start off by making small monthly installments. This could be as little as $50 a month. Every year, increase your monthly payment by 10% until you reach 30-40% of your income. Check with your employer to see if they offer a 401K or some type of investment account.
💸 Easy Investment Options for Beginners:
- Robo-Advisors – Betterment, Fidelity, Synchrony, Wealthfront, SoFi Invest (automatic portfolio management)
- ETFs (Exchange Traded Funds) – Low-cost, diversified, and beginner-friendly
- Retirement Accounts – Roth IRA, Traditional IRA, or 401(k) with employer match
🧠 Investing Resources:
- Investopedia Investing for Beginners
- Public.com – Invest with $1 and learn as you go
- Morningstar – Research ETFs and funds
- Fidelity – Create an investment account
- Guide to Investing – Step by step instructions
Common Saving & Investing Mistakes to Avoid
🚫 Saving without a goal or purpose
🚫 Keeping all your money in checking or low-interest accounts
🚫 Investing emotionally or chasing trends
🚫 Putting off investing due to fear or lack of knowledge
How PVS Financial Coaching & Services Can Help
PVS Financial Coaching & Services is here to guide you through:
- Creating a personalized savings plan
- Understanding your investment options
- Workshops and 1-on-1 coaching to build confidence in your financial journey
- Access to savings journals, financial planners, and educational tools
With the right tools and support, anyone can build wealth over time. 💼💰
Conclusion
Start where you are, use what you have, and take small steps forward. Smart saving and strategic investing are keys to building generational wealth—and it’s never too late to begin.
