by Catherine Rein
(last updated May 19, 2009)
When I first graduated college and had my first real paycheck I gloried in all my newfound disposable income. This inevitably led to high credit card bills and little savings. I finally got things turned around and you can, too. Consider the following strategies and you will quickly building your savings:
Experts agree that you should put away at lease 12 months of living expenses in an FDIC-insured savings account in the event you have a disruption in your employment. After you've saved up this amount, look into other avenues for investing your savings, including stocks, bonds and real estate. Money you need in the next two to five years should be in a safe fixed-income investment, such as CDs or bonds. Any money you don't need in the next five to 10 years, you should look at investing in the stock market.
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