MADISON (WKOW) -- As we near the end of April, many of your bills may be due. Budgeting can be hard.
During this Financial Literacy Month, financial management expert Brent Lindell joined us Sunday morning on Wake Up Wisconsin Weekend, to share some tips to invest in your future.
First, he says to make sure you have your 401K operating at peak efficiency. Lindell says with the current economy, it's important to have your own 401K plan.
Take advantage of a company matching what you put into your 401K, if available. This is when you put in a minimum percentage, such as 3 percent and the company promises to match that 3 percent. Lindell says why not take that offer on your plate, it's free money!
Know the ins and outs of your company stock. Lindell says if you have the opportunity to participate in ownership of stock from the company you work for, don't become overloaded with it. If it takes a bad turn, it could be financially risky.
Start thinking about college savings plans. Lindell says looking at the typical cost of college right now and future inflation, it will be astronomical. He says there are a lot of savings that need to be done to meet this goal.
Lastly, form a detailed budget and stick to it. Lindell says it's good to think about how you want to live in retirement, and what it would take to fund it. Always think of the future. Pay attention, it's going to make a big difference.
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