The trick to saving for a rainy day is that you have to do it before the rains come…
That means putting short-term gratification aside (skip the extra latte, push of the vacation, put in more hours at work) in favor of the long term.
Investors understand this process as well as anyone. Putting money away long-term into a 401(k) or IRA means removing it from daily circulation. This seems much tougher to do in strenuous economic times, like today.
So, this tweet from Mint.com caught my eye yesterday: