Wallet Hub’s 2014 comparison of U.S. checking account fees.
Think about what you’ll have to show for it if you start saving for retirement now and … Read the rest of this entry »
WalMart is the latest major retailer to bring back lay-away plans. This is a good way to Read the rest of this entry »
The planning process gives you a chance to think about things you could do to reach your goal. Continuing with the emergency fund example, if your weekly grocery bill is $100, you could plan to cut that bill by 10% or $10 a week using tips like those described in the following post: http://wp.me/p1gAhb-4m. If you normally buy your lunch, you could probably save at least $10 a week by making your lunch at home and taking it with you to work one day a week. (Dinner leftovers make great lunches a day or two later.) At this point, you have a plan that will get you halfway to your savings goal of $42 per week . You can close the gap by another $10 per week by planning to switch your cellphone or smartphone to a lower cost plan. Most people are paying $12 a week more than should be because they are paying for more minutes than they are using. Source: http://news.cnet.com/8301-1035_3-20055380-94.html. Now, you’re just $10 a week away from your savings goal of $42 per week. You can close this last little distance by planning to switch to a lower cost cable TV package — e.g., by cutting one or more of the premium channel you don’t use very much. Here are some more tips for reducing your cable TV bill: http://www.smartmoney.com/spend/family-money/how-to-cut-your-cable-bill-now/.
For those who were spending “moderately” for groceries in the first 6 months of 2011, the average cost was between $156 and $184 per week for a family of four and between $103 and $107 per week for a family of two. If your weekly grocery costs are higher than average, try to get your costs down to the average level by using coupons, switching from premium brands to cheaper store brands, buying the items that are on sale instead of paying full price and cutting down on things that are nice to have but not essential. If your grocery costs are average, use the same techniques to cut your weekly bill by 10%. In both cases, take what you saved and put it in the jar where you collect money for your savings account!
The quickest way to double your money is to fold it in half and put it back in your pocket.
According to the U.S. Treasury, we have $15 billion in loose change in our purses, pockets, homes, cars and other places where it is gathering dust!
So, as part of your savings plan, you should round up all of your loose change and put it into your savings account. Get in the habit of putting your loose change in a jar every night until it is full. Then, clear out the jar by depositing the coins in your savings account.
You’ll be surprised how quickly your coins will add up to “real money” and, instead of dust, you’ll be earning some interest on your change.