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.
Are you trying to make a positive change in your finances or some other area of your life? How clear are you about the change you’re trying to make? As Chip and Dan Heath researched Switch, their helpful book about what it takes to truly change something about our lives, they discovered several surprises. This […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. Reconsidering the merits of slow acquisition (Becoming Minimalist). They lived within their means and bought things when needed. Crazy, right? Teaching kids to save, not hoard (Ron Blue Insitute). The importance of moving beyond tactical teaching to uncover […]
In one of my favorite movies, The Shawshank Redemption, prisoner Andy Dufresne vividly demonstrates the power of hope. Wrongly convicted for the murder of his wife, his hope that the truth would one day come out sustains him through the daily horrors of prison life. Incredibly, when the truth finally does come out, a corrupt warden […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. Money mind games: Is $100 always $100? (She Picks Up Pennies). Sometimes we don’t think so clearly about money. How I saved $100k in 3 years (And Then We Saved). All without a big salary or an inheritance. […]
Over the years, I’ve asked readers to share some of the best financial advice they’ve ever received. Here are some of their answers. Bob said that during a pre-marriage class he and his then fiancé attended, the teacher suggested using pay raises to build an initial savings account. In Bob’s words, “I can remember how […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. Robots are coming for your job (Moneyish). A surprising look at some of the jobs robots can now handle. Is your job in jeapordy? Sometimes, spending brings a bigger return than saving (NY Times). I agree with the […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. How our faces are turning into billion dollar digital bar codes (MarketWatch). Does this glimpse into the future of marketing put a smile or a frown on your face? One day, the ads you see may be driven […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. After you strengthen your online passwords, here’s how to store them (NY Times). Want to build a strong defense against hackers? There’s an app for that. Americans are making it way too easy on ID thieves (Bankrate.com). Many […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. This is Americans’ greatest financial fear (USA TODAY). Do YOU share this concern? If so, get in the habit of paying yourself second. Yes, second. 3 sneaky ways identity thieves can access your data (Time). Recovering from an […]
A weekly roundup of some of the more interesting and helpful personal finance articles I’ve read recently. Most Americans have financial regrets, particularly about saving (Bankrate.com). You can avoid this regret by getting in the game with saving and investing. Five pro tips to nail an interview and land your dream job (Fast Company). The […]
