Here are some articles that caught my eye this week…
The truth is I can afford almost anything that I really want to buy. But I can’t afford everything that I want to buy. It is about choices. I could buy a new car with all the fancy bells and whistles. But if I did that I couldn’t fund my retirement and my child’s college. I choose to do those latter things because they are more important to me. This is really the secret to successful budgeting. It is all about purposefully making choices so that you spend your money on what matters the most to you.
When you are in your 20’s things like retirement often seem so far away they don’t even show up on the radar, so it is understandable that young people sometimes give little thought to long-term savings. But the truth is long-term savings are so much easier the younger you start. A 20 year-old needs to save only about $100 a month to have a million dollars to retire on when they are 65. But if that 20 year-old waits until 40 to get started, that monthly savings total jumps to almost $800!
You never know what answer you may get until you ask.
Yep. If you’d like to die penniless, here are some great ideas for how to get there.
If you are expecting a refund, here’s some tips for getting your money back quickly. The bigger issue though is you really shouldn’t be getting a large refund every year. If you get a $2,400 refund, what you have really done is loan the government $200 a month interest-free for a year. That’s not a wise financial move. Wouldn’t you be much better off by having an extra $200 a month in your paycheck? Adjust your withholdings so that in the future you can bring some of that money home instead of loaning it to the government.
In honor of the Super Bowl this weekend here are some facts you might be surprised to know.