When we hear sales promotions that say that it will cost us pennies per day, or for just $1.00 a day we can have this or that, the idea is to keep us thinking in small numbers. But those small numbers add up and become big numbers over time. Well, it works the same way […]
Tag Archives: Savings account
When we hear sales promotions that say it will cost us pennies per day, or for just $1.00 a day we can have this or that, the idea is to keep us thinking in small numbers. But those small numbers add up and become big numbers over time, and it work the same way with […]
The most important factor in managing our personal finances is our control over where our money is going. Before we can establish financial goals or move forward with a financial plan, we need to have firm control of our spending habits. And our spending habits are most often driven by our lifestyle decisions. For instance, […]
If you’re employer has a 401(k) plan and you’re not contributing, it’s time to take a serious look at the financial benefits these plans offer. Company sponsored 401(k) plans allow us to deposit a limited amount of pretax income (taken from our gross pay before taxes are withheld) to an account that grows tax-deferred. This […]
I’ve read quite a bit of Mike’s posts and find them articulate and informative. This week he tackles the IRA question and explains the affect that marginal tax rate has on the decision in words we can understand. Read the Article
Ben Franklin is quoted as saying that a penny saved is a penny earned, but he actually said that “A penny saved is two pence dear”, meaning a penny saved is two pennies earned. Apparently in Mr. Franklin’s day, pennies received a lot more attention than they do today. We tend to leave pennies behind in that little tray […]
Personal Finance Simply Understood 