Cynthia,

Many employers offer matching-contribution programs to help their employees save for retirement. Frankly, not taking advantage of these programs is like throwing money out the window. This is like receiving “free” money through a bonus, and usually all that is required to sign up is a few forms to fill out.

Quick Cents Application Points:

1. If you are eligible to participate in your employer’s retirement plan and you are not participating, make it a priority to get all the information about the plan and enroll this week.
2. If your plan has a matching component, what do you need to contribute to receive the full matching amount?
3. What steps can you take to alter your budget so that you contribute enough to take full advantage of the matching part of your retirement plan?