Taking a sick day is the perfect opportunity to relax and unwind (unless you’re sick). According to Redditors, whether you’re looking for a comedy, a romance, or a heartwarming tale, these movies will leave you feeling happy and uplifted. So grab a blanket, make some chicken soup, and get ready to escape into a world … Read more
According to the insurance research firm LIMRA, life insurance ownership is at its lowest point in over 50 years. This is a crazy statistic considering that approximately 44% of those who took part in the survey said they don’t have enough money to pay for expenses if their loved one were to pass away suddenly. […]
The post Do You Have Life Insurance? appeared first on Making Sense Of Cents.
Saving money takes discipline. And a certain amount of sacrifice.
The post Not saving? These 3 reasons to save money will give you the motivation to start appeared first on Discover Bank – Banking Topics Blog.
My name is Zach, and I write at Four Pillar Freedom, where I tend to tackle financial topics through data visualization. While J.D. is on vacation, I offered to explore one of his favorite topics: the effects of saving rate versus investment returns.
Albert Einstein supposedly once said that compound interest is the eighth wonder of the world.But does data actually support this claim?
In this post, I explore the nature of compound interest, how long it takes to become an important factor in wealth accumulation, and whether or not it actually matters much for people who hope to achieve financial independence in a relatively short time.
What matters more: your saving rate or your investment returns?
Accumulating Wealth in the Early Years
Suppose your goal is to achieve a net worth of $1 million. If you invest $10,000 every year and earn a 7% annual return on your investments — which is a reasonable assumption for long-term stock market returns — you’ll accumulate $1 million in about 30.7 years.
The chart below shows exactly how long it would take to reach every $100,000 net worth milestone, using the assumptions of a $10,000 annual investment earning a 7% annual return:
Notice how each $100,000 net worth milestone takes less time to reach than the last. In fact, it’s mind-boggling to see that it will take youlongerto go from $0 to $100,000 than it will to go from $600,000 to $1 million:
The first $100,000 takes the longest to save because you don’t receive much help from investment returns early on. The time it takes you to go from $0 to $100,000 is mostly dependent on the gap between your income and your spending.
I’ve been thinking a lot lately about how much food I consume (and waste). I’m not happy with how I shop and eat, and it’s not just because I’m fat right now. I don’t like what I’m eating and I don’t like how much food I’m throwing out.
Food waste is a huge problem in the United States. Most studies find that Americans waste about one-third of all food that enters the supply chain. This is insane. And when you consider that food spending is the third-largest component of the average American budget, this is a great place for most folks to boost their budget.
According to the 2017 Consumer Expenditure Report, the average household spends $7,729 per year ($644.08 per month) on food. If, as the USDA reports, 31% of the average family’s food goes to waste, that’s the equivalent of burning $2395.99 per year ($199.67 per month).
For most families, $200 per month is a big deal. That can be the difference between deficit spending and earning a “profit”. That $200 per month could be enough to purchase a new car or to afford better health insurance.
Today, I want to think out loud about food consumption and food waste in my own life.
This article is unusual in that I’m not going to try to offer any solutions. Instead, I’m simply going to share some observations, and I’m going to divide these observations into bite-sized chunks.
If you have solutions to food waste, however, I’d love to hear them.
Personal finance 101 may not be on your course schedule, but that doesnât mean you canât school yourself on how to manage money. Learn these 10 personal finance rules that you can’t afford to break.Personal finance 101 may not be on your course schedule, but that doesnât mean you canât school yourself on how to manage money. Learn these 10 personal finance rules that you can’t afford to break.
The post 10 Personal Finance Rules College Students Canât Afford To Break appeared first on Money Under 30.
What Are Closing Costs and How Much are They? is a post from Pocket Your Dollars.
Another quarter in the books! Every three months, Iâll be taking a look at my personal finances, recent news from The Best Interest, and more dog pictures. Here are my previous quarterly updates: Q1 2021 Q2 2021 Q3 2021 Annual Review 2021 Why share this info? To brag?! No way! I want to be transparent. I practice what I preach… Read More »Net Worth, Projects, and Dogs â Update Q1 2022
More and more, companies are dispensing with traditional annual employee reviews. They say this is out of sensitivity to a new generation of employees who find reviews stressful. The real reason may be that dispensing with employee reviews saves companies money — albeit at the expense of their employees.
Microsoft and Dell are among the high-profile companies that have made news recently by dumping annual employee reviews, and Silicon Valley has long turned its nose up at such traditional means of measuring performance and managing people. For many employees, the initial reaction is relief, but they would be wise to look closer. Without that annual review process, they could find that opportunities to get a raise are fewer and more difficult to obtain.
Nothing Ventured, Nothing Gained
As much as you may view a formal review as resembling an interrogation scene out of George Orwell’s “1984,” it should work to your benefit — both financially and in terms of feeling more connected to your workplace.