Archive | Saving

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.

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How’s Your Financial Health?

There’s a new report out that says very few Americans are financially healthy. Working with researchers at the University of Southern California, the Center for Financial Services Innovation (CFSI) developed an eight-question survey that was taken by a representative sample of U.S. adults, leading to what it calls the U.S. Financial Health Pulse. Its results […]

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Profitable Ideas: How Money Really CAN Buy Happiness, Raising a Minimalist, and More.

A weekly roundup of some of the best personal finance articles from around the web. Here’s how money really can buy you happiness (Time). After decades of searching for a connection between money and happiness, here’s what’s been learned. Buy it for life: Choosing quality over price (Get Rich Slowly). Spending a little more is often the […]

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Navigating The Mixed Messages Of Our Consumer Culture

If you’re really paying attention, life can be a very odd experience. Especially when it comes to money. For example, in troubled economic times, front-page newspaper stories regularly quote economists expressing concern that the personal savings rate is going up. I still vividly remember reading one such story during a previous recession. I had to […]

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What Matters More — Your Spending Rate or Your Saving Rate?

Those of us who write about money for a living can get a little carried away by some of the nitty-gritty details. That seemed to be the case in a surprisingly impassioned debate that sprang up recently over what a person’s higher priority should be—controlling spending or controlling saving. At first, it seemed kind of […]

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Profitable Ideas: Protecting Your Kids From ID Theft, You’re Paying Too Much For Car Insurance, and more.

A weekly roundup of some of the best personal finance articles from around the web. Protecting your child from identity theft (Independence Advisors). It often goes undetected for years, and by then a lot of damage will have been done. It’s an emergency (fund)! (Monevator). If you’ve ever wondered whether it’s really necessary. Estate planning essentials (Retirement Field […]

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Profitable Ideas: The Next Bear is Bound to Hurt More, Investing is the Best Foreign Language, and more.

A weekly roundup of some of the best personal finance articles from around the web. Why the next bear market may feel more painful (A Wealth of Common Sense). With more money in your portfolio, thanks to a nine-year bull market, the next downturn may be tougher to take. The wisdom of frugality: What is simplicity? (The […]

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Profitable Ideas: Sentimental Savings, Airbnb Scam Alert, and More

A weekly roundup of some of the best personal finance articles from around the web. Get sentimental about saving (Chicago Tribune). Advertisers know all about preying on our emotions. Here’s some interesting research about turning the tables and using emotion to do the right thing financially. More homebuyers are taking out mortgages that stretch them thin (Clark […]

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Profitable Ideas: The Habits of Success, Putting First Things First, and More

Last roundup of the year—lots of ideas for getting 2018 off to a great start. What the rich do differently: Habits that foster wealth and success (Get Rich Slowly). Titles like this often amount to nothing more than clickbait, but this is a good post that reviews the findings of numerous authors who have studied people […]

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