Getting Started With Savings
I recommend maintaining three distinct types of savings accounts: an emergency fund (with 3-6 months’ worth of essential living expenses), a big-ticket item replacement fund (where you save for your next vehicle or to pay for a new furnace), and a periodic bills and expenses fund (where you save each month for bills and expenses that you’ll have to pay sometime in the year, such as an annual life insurance premium or Christmas gifts). You could open 3 separate accounts. Or, I use Capital One 360, where one account can be set up with numerous sub-accounts.
I’m fascinated with the process of life change. So many of us would like to make some changes — in our health, our relationships, our finances. And yet change seems hard. We might make progress for a while, but then we slip back into old familiar patterns. What does it take to make changes that […]
Weekly roundup of some of the best personal finance articles from around the web. Actually helpful tips for negotiating salary (Four Pillar Freedom). Being willing to negotiate is the first step (most people aren’t). Once you’ve cleared that hurdle, here are some helpful ideas about how to negotiate. Who’s in your headset? (Krueger & Catalano). […]
Weekly roundup of some of the best personal finance articles from around the web. Don’t save too little, or too much (NY Times). After many years of saving, some people find it hard to spend. Tiny home living and minimalism are helping us become debt-free (Marriage, Kids and Money). The big steps one couple is […]
Weekly roundup of some of the best personal finance articles from around the web. The number one thing people with fat savings accounts scrimp on that you likely don’t (MarketWatch). Cancelling the daily latte will only get you so far. Here’s how to really free up some money to save. So, your adult child moved […]
Weekly roundup of some of the best personal finance articles from around the web. When frugality bottoms out (The Simple Dollar). What to do when you’ve maximized savings in all areas. How to teach your kids about money and help them be financially responsible adults (Money). Solid advice, especially for younger kids—and especially “Let them […]
Weekly roundup of some of the best personal finance articles from around the web. True long-term career success depends on this most underrated aspect of talent (Fast Company). The ability to wait for a greater reward is considered the master life skill, impacting our careers, our investing success, and so much more. I worked at […]
Weekly roundup of some of the best personal finance articles from around the web. The No. 1 thing people with fat savings accounts scrimp on that you likely don’t (MarketWatch). The importance of getting the big things right. Parents, don’t sacrifice yourselves on the altar of your children’s education (Tim Mauer). Sacrificing to save is […]
I know a man who started saving for his daughter’s wedding when she was just a little girl. Long before she ever met the man she would marry her father was setting money aside for her special day, even when money was tight. Over the years, he could have spent more on himself, buying a […]
For far too many people, money is a source of stress or frustration. Consider these findings from a recent Federal Reserve survey: About 46% of U.S. adults said they would be unable to cover a $400 emergency expense without selling something or borrowing the money. About 31% of non-retired adults reported having no pension or […]
Weekly roundup of some of the best personal finance articles from around the web. When it’s time to choose time over money (She Picks Up Pennies). The last section of this article says it all—doing the blocking and tackling of wise money management gives us options to build our lives around what matters most. 6 […]
