Ending America Saves Week With Advice on Saving.
Posted: February 26th, 2011 | Author: Joe | Filed under: Saving | Tags: America Saves Week, college savings, Emergency funds, Retirement, Saving, Saving Money, spending | 3 Comments »As America Saves Week draws to a close for 2011, I thought I’d share just one last post of savings advice and commentary. I hope you celebrated by increasing your savings, or at least reconsidering your spending
Retirement
I encountered a problem with my 401(k) and saving for retirement and thought many others probably have experienced this too. I couldn’t find any real solutions on the web, so I wrote about my own solution to Save for Retirement When Your 401(k) Plan Sucks.
RC from Think Your Way To Wealth answers a question that many people ask once they’re out of credit card debt :
I’m Saving Enough To Get the 401k Match From My Employer, Where Do I Invest My Money Next?
College
Anybody with a child of college age knows that college tuition these days is insane. Heck, my oldest kid is in 1st grade I’m terrified to think at how expensive it will be when they head off to college. By that time, kids may be taking out an equivalent of a 30 year mortgage – just for education expenses!
Well, one alternative is to skip college altogether. I’m not saying it’s the best alternative, but it may be beneficial to Save Money and Skip College, at least for a year or two.
But if you or your children are looking at that costly expense, you should probably reconsider majoring in any of these 8 College Degrees with a Poor ROI. Thanks to Financial Highway for the list!
Either way, check out the article at The Amateur Financier about How to Survive 4 Years of College Without Going Broke.
Health savings
Perhaps the biggest expense outpacing incomes aside from college tuition is healthcare. MoneyNing shares a helpful list of 7 Questions to Ask About HSAs and Other Ways to Pay for Medical Expenses that can help get you thinking about how to mitigate these essential costs.
Emergency savings
A basic pillar of personal finance is the emergency savings account. But what is that savings fund for? Well, interestingly it turns out that The Most Common Emergency Expenses are the same regardless of income level. I suppose that’s because some things are unexpected whether you’re a line cook or Bill Gates.
Lastly, Ron at The Wisdom Journal has a poll you can vote in :Which Is Greater – Your Emergency Fund or Your Credit Card Debt?. The results may surprise you…
Thanks for linking to my article on Surviving 4 Years of College.
If we save so much, isn’t our consumer based economy going to collapse? That’s what the democrats told me at their convention 5 years ago. I dug into my savings and now they are virtually non-existent…
@Abbas: now they’re saying the economy will collapse if we don’t let them spend more of our money in the form of “stimulus”! When will the madness end?