If you faced an unexpected $2,000 expense, how confident are you that you’d be able to come up with the money? According to a recent survey from the market research firm TNS, less than half of us believe we could find the funds. Of those who said they could, about half said they would tap […]
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.
Text to Save
Texting is usually seen as a high cost item, with teens sending their families off the financial cliff with their constant missives about what to wear and who said what. However, a new study reported on by the Wall Street Journal found that texting can be an effective way to foster increased savings. In three […]
Financial Stress Cutting Into Sleep Time
Money matters are still keeping a lot of us up at night, but a new survey from Harris Interactive and Principal Financial Group also contained a few slivers of positive news. As reported by U.S. News & World Report, inflation is the top concern among retirees, keeping nearly 40 percent from getting a good night’s […]
Lots of People Just Getting By
According to a new national survey by CareerBuilder, over 60 percent of today’s workers always or usually live paycheck to paycheck. As reported on the MSN Smart Spending blog, that’s up from 49 percent last year and 43 percent the year before. Even 30 percent of workers earning $100,000 or more say they’re living paycheck […]
Is Frugality Fading?
Frugality has been all the rage during the recession. But now there’s some evidence that our money-saving ways may be going by the wayside. A CNN.com story noted that the personal savings rate dipped in June after several months of strong growth. And, while an HSBC survey found that 85 percent of people have modified […]
Don’t Get Taken for a Fee Ride
It wasn’t long ago that banks would not allow debit card transactions to go through if you didn’t have enough money in your checking account. But then they discovered how profitable it could be to allow such transactions and then hit you with an overdraft fee. Such fees will total an estimated $38.5 billion this […]
Online Tool Reviews
The Internet is making personal money management easier. I recently wrote a guest post for U.S. News & World Report, looking at the pros and cons of various online budget tools. I’m using Mint.com and enjoying it for the most part, but I plan to switch to Yodlee next year because it offers a few […]
Amish Money Management
There was an interesting post on the Houston Chronicle’s web site about the money management habits of the Amish. According to the story, Amish children all learn a trade such as farming, welding, or woodworking. Money earned through apprenticeships goes to their parents, who give the child 10 percent for spending and put the rest […]
Home Improvement
By Matt Bell on May 1, 2009 in Faith & Finances, Budgeting/Planning, Generosity, Saving, Credit/Debt
“I delight in your decrees; I will not neglect your word.” – Psalm 119:16 In the mid 1990s, Kevin Bauman began photographing abandoned houses in his hometown of Detroit. It was a creative outlet, a way to express his amazement and concern that “a once great city could find itself in such great distress.” Viewing […]
New Retirement Realities
Our economy has left very few people feeling confident about retirement. Just 13 percent of current workers say they are “very confident” about having enough money to live comfortably throughout their retirement years, according to the latest annual retirement study from the Employee Benefit Research Institute (EBRI). That’s the lowest level since the organization began […]