Is an Emergency Fund Really Necessary?
Posted on April 30, 2007 - Filed Under Unexpected Expenses, Emergency Fund, Saving | Leave a Comment
I recently came across an insightful survey provided by the Pew Research Center concerning an emergency fund. Most people recommend having approximately three to six months of living expenses in a conservatively invested, yet accessible savings account. The survey concludes about a third of adult Americans said they had unexpected expenses in the past year that they […]
Read More..>>Americans’ Savings Rate At Great Depression Levels
Posted on April 28, 2007 - Filed Under Saving | Leave a Comment
According to the U.S. Department of Commerce, Bureau of Economic Analysis the personal savings rate was a negative 1% for the year. During the Great Depression the savings rate was a negative 1.5% just to put things in perspective. The personal savings rate is calculated by subtracting personal spending from disposable personal income.
Read More..>>Common Reasons For Couples Finance Problems
Posted on April 28, 2007 - Filed Under Relationships and Money | 1 Comment
There are many reasons money is so difficult for people in a committed relationship. For a 20-something person in their first relationship where they are sharing everything about themselves, finances are often the last thing discussed. A few of the reasons for this I have seen is:
Money is personal. We are not use to sharing […]
Read More..>>5 Ways to Stop Living Paycheck to Paycheck
Posted on April 28, 2007 - Filed Under Financial Planning, Saving, Income | Leave a Comment
So many of us fall into this trap. As our income level rises we quickly raise our standard of living. I know in my brief financial career I have caught myself doing this. When I first got a steady paycheck ten years ago or so I went out and bought a car slightly beyond my […]
Read More..>>Four Steps to an Awesome Credit Score
Posted on April 27, 2007 - Filed Under Credit History | Leave a Comment
Liz Pulliam Weston from MSN Money writes this article on the four keys to great credit. Some of this seems self explanatory but can be easily overlooked:
Open checking and savings accounts. I think most people have this from the first job they had in high school. The side note would be to ensure they are not […]
Read More..>>12 Convenient Ways to Save Immediately
Posted on April 27, 2007 - Filed Under Saving, Spending | 5 Comments
Here are the 20 efficient ways to save money immediately without major lifestyle changes or living out of a cardboard box.
12. Get free checking. Seems obvious, but you would be surprised at how many people pay fees at their bank. Try a credit union.
11. Toss the mail order catalogs. Instant temptation. Why force your self […]
Talk About Money
Posted on April 26, 2007 - Filed Under Millionaires in the Making, Financial Planning, Saving, Spending, Investing | Leave a Comment
I find it interesting to read about other people’s financial success story. Our culture is very thin on wanting to share with others how much we have or our net worth. However blogs such as this and this have made it more liberal with sharing these secrets. Not only sharing how much they have but how […]
Read More..>>Pack Your Lunch and Save $200 a Month
Posted on April 25, 2007 - Filed Under Saving | Leave a Comment
After switching jobs last year one of my goals was to pack my lunch as much as possible. It was tough at first because I wanted to get to know the people I worked with better and they all went out to lunch everyday. So for the first few months I went out everyday spending […]
Read More..>>Median Income for Each Gender
Posted on April 19, 2007 - Filed Under Income | Leave a Comment
According to the Census Bureau, men 25 years old and over who work full-time year-round and have a Bachelor’s Degree have 2001 median annual earnings of $53,108. The comparable figure for women is $39,818. What are your thoughts on these figures? What are some explainations for the gap between the genders?
Read More..>>JD at GetRichSlowly on Impulse Spending
Posted on April 18, 2007 - Filed Under Spending | Leave a Comment
JD at GetRichSlowly offers his insight into avoiding an impluse purchase by offering these tips:
1. Avoid advertising.
2. Avoid temptation.
3. Exercise mindfulness.
4. Remind yourself of larger goals.
5. Use the 30-day rule.
6. Tax yourself whenever you make an impulse purchase.
7. Use cash!
