Personal Finance 1st Edition by Jack R. Kapoor

Exercise 20

1. What are some suggested methods to make saving easy?

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2. What methods are available to calculate amounts needed to reach savings goals?

Action Application Interview a young single person, a young couple, and a middle-aged person about their financial goals and savings habits. What actions do they take to determine and achieve various financial goals?

Step 1 of 2

(1) The following methods are some suggested methods to make savings easy:

• Write a check each payday and deposit it in a savings account not readily available for regular spending, or use an automatic payment to electronically transfer an amount to your savings.

• Payroll deduction where an amount is deducted from your salary and deposited in savings.

• Saving coins or spending less on certain items can help you save.