e-lifeandwork: Learn New Skills Online | Online Courses & Real-World

The savings rate in America is pretty abysmal. Fifty-seven percent of Americans have less than $1,000 in their savings accounts, according to a 2017 GOBanking Rates survey. Without savings, people can be forced to take on debt when they lose their job, get sick or have major car repairs. Fortunately, there are some easy ways to trick yourself into saving money, whether for retirement, college, a new car, vacation or a rainy day. Here are five: Automatic Transfers Having money automatically moved from your paycheck to a retirement account, or from your checking account to savings, can be a painless way to save money without realizing you’re doing it. It’s called “Pay yourself first” and it is meant to pay into your retirement or other savings accounts so that you pay your future self first. Otherwise, it’s money you’re likely to spend. Hide It Automatic transfers are one way to hide your money and keep it out of your sight so you don’t spend it. There are other ways to hide...

How many entrepreneurs are as confident now as they were before the Covid-19 pandemic began? Yes, we know the majority of the S&P 500 are companies that began in down markets. And yes, the best entrepreneurs intuitively use hard times to lean in and listen even harder to their market and customers, innovating where necessary and making their companies more resilient than ever before. But for many of us, the current climate feels different. The exits many or even most were aiming for are now delayed or entirely different. Consumers are different in ways we could not have predicted. Employees are different and even the fundamental forms of employment have changed. Given this, is it still possible to become financially secure enough to retire? From my perspective, it absolutely is, but quite possibly through different methods than the ones you’d expected. I believe we can build a map for what we need to do now in four words: Think like Warren Buffett. That’s it. But when I s...

People have lots of questions about saving for retirement. “Am I saving enough?” is a really common one. As my colleague Amy Arnott explored in “Do You Really Need to Save That Much for Retirement?” the hardest part for many people may simply be scraping together enough of their paycheck to make regular contributions. Many planners recommend investing 15% of your pretax salary, which is no easy feat. (But remember that any employer contributions also count toward that number, so if your employer matches up to a certain amount, contribute enough to get the full match!) Beyond your savings rate, though, you also have some control over how much you will need to save. That’s because, to some extent, your choices determine how expensive your lifestyle is. In effect, by being mindful of how much you spend and ratcheting up your savings/investing rate as needed, you will be able to save more--and you will ultimately need less--money for retirement. Fred and Sarah Here’s the tale of t...

Money Management Skill Income is revenue paid by superior, organization for job done. Where should money go? (A) 1/3 – Expenditure (B) 1/3 – Saving (C) 1/3 – Donation The problem is difficult to solve because the high cost of living, lack of knowledge managing money and spending more than you have. Income expenditure has 3 types: (1) - Fixed expenditure (2) – Variable expenditure and (3) - Extra expenditure. Record every single receipt on the items spent on such as bills. In that way you can have more focus and be cautious on every single cent spent. Be smart managing your money. Record your spending in spreadsheet. So that you can do your own analysis and be your own money master.