NEW YORK ( MainStreet) -- Saving for retirement isn't a big priority these days for young adults who face huge student loans and poor job prospects, but experts say "Millennials" who skip 401(k) and IRA contributions today will regret it tomorrow."There'll be a drastic difference
You won't have any money to put in a 401(k) or IRA if you don't get on a monthly budget first to make sure your savings and spending match up with your income. "Having a budget puts you in control," Cruze says. "You tell your money what to do instead of the other way around." Lots of websites offer free tools to help you create a monthly budget online. Not surprisingly, Cruze likes the one at DaveRamsey.com. You can also easily draft a budget on any piece of paper. Cruze suggests starting by estimating how much money you plan to spend next month on everything -- food, clothes, gas, rent or mortgage, etc. Then update your estimates with hard numbers as you actually spend money each month.