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How to Get a Handle on Saving

Getting on top of your finances can be a real bear. On paper the idea sounds simple, but in real life, it's easier said than done."I've yet to meet someone who doesn't know he shouldn't spend more than he makes, says Brad Klontz , a financial psychologist and partner at OCCAM LLC . "We all know it, but can't do better."By the time you pay down your consumer debt, chip away at student loans, dole out money for the mortgage, what's left for saving for your kid's college education, not to mention your own retirement? The list of demands for your savings is long, yet online tools and advice from advisors suggest we can make it work—we just need to rethink our approach."Budget has the same emotional response as the word diet," says Klontz. "Think about craving cheeseburgers and not eating them.  Subconsciously we resist."Then there's the tug-of-war between the hear-and-now and the distant future. Is it chocolate cake today, or some relatively-unknown reward 30 years down the road, explains ...

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