RAINY DAY STRATEGIES.

• Author: DAY, DANIEL M.
• Position: Personal financial management tips - Brief Article

Saving for retirement? College for the kids? Neither is getting any cheaper, and sometimes the sheer immensity of the pricetag can be paralyzing for someone who just is getting started. But there are simple solutions.

SAVE BY THE BUCKET. Break down your goals into manageable, month-to-month sums, then save "ucket by bucket" for those goals. Start now, and allow compound interest to work its magic.

PAY YOURSELF FIRST. Allocate incoming dollars to each monthly bucket. Develop a habit of putting some of the first dollars from your income into the buckets.

STICK TO A SYSTEM. Make saving like clockwork. Payroll deductions for 401(k) plans and other employer-sponsored plans can be relatively painless because you don't miss dollars you never see. Setting up an automatic withdrawal from the...