For years, financial planners, credit repair people, family and friends have voiced their opinions about this subject. Some say people should save 5 to 15% of their net income. Others say that people should invest 5 to 15% of their gross income. Now I am not going to insinuate that a person should not save or invest money.

What I am saying is that you should not get hung up on how much money to save. The first thing you should determine is what your true income and expenses are. After doing this, you should then consider what financial goals you are trying to accomplish. Then you will be prepared to determine how much you should save.

Saving money should not be a cookie cutter decision. For example: If you do not have a lot of your gross income to save, should you just give up?If you do not have 15% to invest of your net income should you give up? The best thing to do is to start somewhere. If you a struggling with saving or investing money, I can help you out. Call me at 313-744-5977 or e-mail me at [email protected] today.