Modern Woodmen: January 2018

Spend wisely; save wisely

A spending plan can help lower student debt while saving for the future

It all makes sense when Brittany’s parents talk about the importance of saving for her future. She just doesn’t see how it’s possible while living on her own and trying to pay off tens of thousands of dollars in college loans.

Like many young people, Brittany feels daunted. She thinks of saving for retirement, a house, or even an emergency fund as distant opportunities.

Fewer than 60 percent of people ages 20-31 have a “rainy day” fund for medical expenses and car repairs. Of those with savings, a third doesn’t have enough to last even two months.*

You might feel you’re too young, but time is on your side if you start saving now – while you’re young. You’ll have many years to earn interest on your money – and interest on the interest that money earns. Waiting will mean you’ll have to set aside more of your money later to reach the same goal.

Modern Woodmen

A Modern Woodmen financial representative can help you come up with a spending plan to pay down student loans and other debt while also helping you save for later. The advice is free and there’s no obligation.

The best plans are simple and systematic.

  • Know where your money is going.
  • Decide on an amount of money you can comfortably set aside and have it transferred automatically from 
your checking account to your savings account. Do not withdraw money from your savings account.
  • If your employer matches contributions to a 401(k), it’s like free money. Take advantage and try to in
crease your contribution every year or when you receive a raise. Don’t cash out your account.

Spend wisely and save wisely. The key is finding the right balance.

Let’s start the conversation.

Contact Jason Keller at 336-403-0943 or


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