Setting up your Gold Savings Plan, Step-by-Step

When implementing a savings plan, and especially at the outset, the most important thing for you to do is to establish a habit of saving. It doesn't really matter how much you save, but you need to be consistent about it in order to establish the habit.

It is great to save as much as you can as quickly as you can, but remember that if you try to set the amount too high, and then it interferes with the payment of your normal day-to-day living expenses, it increases the likelihood that you will decide that you don't make enough money to save anything, causing you to give up too early.

Be conservative. Calculate the total net amount that you make every month, subtract all of your regular expenses (expenses associated with housing such as mortgage payment or rent, transportation, food, taxes, etc.) and then try to save HALF of whatever amount is left. That will give you some room in case any unexpected bills come up. If you are accustomed to spending all that you make every month, this might mean cutting back on some entertainment expenses or other non-essentials. Whatever the figure comes out to be, set aside that amount FIRST. If it works out to be 5% or 10% of your monthly salary, then take that 5% or 10% off the top of every check you receive, even if you get paid weekly or once every two weeks. Set that money aside, and it won't take long at all until you start to to see your savings nest egg grow.

If you are going to accumulate your savings denominated in gold, then follow the step-by-step plan below:

1) If you have not already done so, CLICK HERE to visit Karatbars, click the link that says "Registration", and create your Karatbars account. You will need to choose either a customer account or an affiliate account. If you only plan on converting your own savings to gold, then you can select a customer account. If you plan on referring others, even if it is only a few friends, be sure to select an affiliate account. Remember that registration is free, so even if you are implementing your savings plan beginning next month, you can still register for your Karatbars account now in order to get prepared ahead of time. Also, if you select an affiliate account, you can begin to refer others and get paid to do so immediately, even before you have converted any of your own savings to gold.

2) Once you have registered and have access to the back office, upload your Know-Your-Customer documents (picture ID copy and utility bill or other proof of address) to verify and authorise your account. Karatbars is a legally registered company, and much like banks and other financial services providers, they are required to know who they are doing business with in order to prevent money laundering and other financial crimes. This will allow them to accept your payments and send your gold to you (or hold it for you if you choose that option). If you are an affiliate, it will allow them to issue you with a debit card so you can withdraw your affiliate payments right at your closest ATM machine.

3) You are now ready to place your orders with Karatbars to exchange your cash for gold. You can make orders via the back office of their website after logging into your account. How much you exchange will depend on your personal savings plan as discussed previously in this article. If you are able to exchange into 5 grams of gold per week, fantastic, you will build up your savings very quickly. If you are only able to exchange into 1 gram of gold per week or even 1 gram of gold per month, don't despair! The most important thing is consistency, and as you make those exchanges over a longer period of time, you will be able to accumulate quite surprising amounts of value. Remember, if you are ordering small amounts at a time, you can leave your gold in storage with the company until you accumulate 50 or 100 grams, in order to save on shipping costs when the gold is finally to be shipped to you. Shipping 50 or 100 grams at a time is much less expensive than shipping only a couple of grams at a time.

Remember, the most important thing is to establish a habit of saving. Be consistent and before you know it you will have added a significant percentage to your net-worth as it stands right now.

You are always welcome to Contact Us if you need assistance in setting up your personalized savings plan, or if you need help figuring out how to sign up for your Karatbars account or to place your exchange orders.