Saving Money Blogs – Save Early

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The Motley Fool site has an interesting article that covers two topics you may be interested in.  First it includes a graph based upon Census Bureau earnings data that shows median income of by gender and various age groups so you can see where you stand.  Secondly, it has a nice example  and chart showing why it is so important to start saving early — even a small amount.  Early savings (preferably in your twenties) have a much longer time to earn and compound into larger amounts than do larger, but later savings.

This fits nicely into one of my basic personal finance principles on savings:  to put your savings on auto-pilot, start early even if just a minimum amount, and invest savings based upon your time horizon.  Stay tuned as I feature other interesting articles from saving money blogs.

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