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8 Critical Things to Do Before Buying a Home

Posted by on Apr 21, 2016 in Articles, Uncategorized | Comments Off on 8 Critical Things to Do Before Buying a Home

So you’re finally ready to get serious and buy a house — chalk it up to the amazing spring weather, or maybe a precious bun baking in the oven, or that much anticipated promotion at work. Whatever the reason, you feel primed to start poring over listings and spending your weekends open-house hopping. Exciting! Yet while you might feel prepared for this next giant step, just remember — there’s a lot of planning and prep work that goes into this purchase, even before you start to look at homes. So make sure you’ve got all your mallards in a row first! Use this checklist to figure out if there are any things you may have missed. Crunch your numbers First, ask yourself not if you’re ready emotionally — because it sounds like you are — but ready financially, says Kristen Robinson, senior vice president at Fidelity Investments. A perfect place to start is at our Home Affordability Calculator, where you can punch in your income, desired location, and other factors to see if your expectations jibe with reality. Good luck! Know your credit score Your mortgage’s interest rate — and, as a result, the size of your monthly payments — will be directly related to your credit or FICO score, essentially a summary of how reliably you’ve been paying off your debts. “If you’ve had too many problems or late payments leading up to the purchase of a home, your score could be lower, and you might get a higher mortgage rate,” says Ali Vafai, president of The Money Source, a national lender and servicer. Many major lenders require a score of at least 620 for a mortgage, but if you find out you’re below that or want to boost your score, now is the time to get started, since it can take months to take effect. Amass a down payment Most mortgage lenders require a cash down payment of 5% to 20% of the price of a home. For the U.S. median home price of $292,700, that’s anywhere from $14,635 to $58,540. If you don’t have this kind of cash lying around, it’s high time to start a saving goal for the next few months. You can start by putting off buying any big-ticket items, fancy vacations or other extravagances. This is a new home we’re talking about, remember? You can also explore other ways to come up with a down payment fast — like borrowing from your IRA or even getting a gift from your parents (lucky you). Get educated The most important aspect of purchasing a home? Understanding the nuts and bolts of how it works. Consider taking advantage of local home-buying seminars, often offered by banks or nonprofits. Such resources will explain aspects of a home loan, like the criteria lenders use to evaluate a borrower, the documentation buyers will need to provide and what each portion of a mortgage payment goes toward. Even better: these seminars are usually free. Interview at least three real estate agents Just about everyone knows a real estate agent or five, which explains why 52% of home buyers find their agent through a friend. But don’t just settle for the first agent to cross your path — remember, a house is a huge purchase, the stakes are high. In...

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How to Detox Your Finances This Spring

Posted by on Apr 19, 2016 in Articles, Uncategorized | Comments Off on How to Detox Your Finances This Spring

Spring is one of my favorite times of the year. The weather is warmer, which means my daughters no longer have to look like Ralphie’s younger brother from the movie A Christmas Story. This also means that I can’t hide indulgences in chocolate and comfort foods during the winter behind big sweaters. Our family tradition is to do a cleansing of our bodies and home to welcome in a new season. As I was talking about this to a girlfriend over ice cream (O.K., the cleansing will start next week), she mentioned that she wished she could do this for her finances. Here are some financial areas I suggested may be due for a cleansing: Documents. Do you have a section in your closet that looks like a paper version of Cousin Itt? Use this cleansing period to rid yourself of the stress of piles of unidentifiable papers that keep growing. Use the following guidance as a general rule for keeping records: Sales receipts- Consider attaching your sales receipt to your warranty and discard when your warranty expires. If you do not have a warranty, consider keeping your receipt until your date to get a refund and/or exchange expires. Paycheck Stubs- The rule of thumb is that you can get rid of them when you have compared the stubs to your W2. Tax Return- The conservative guidance is to keep the records forever. Others say seven years. The more complex your tax returns are, the longer they should be kept. Healthcare Statements- Keep until you have verified that the bill has been settled. While you are purging records, you might as well get them organized: Consider getting a fireproof safe or safe deposit box for important documents like marriage certificates, birth certificates, passports, property insurance information, and estate documents like a will and powers of attorneys. Make sure the executor of your estate actually knows where your documents are located. For those that have fully embraced the digital age (I am Generation X and I will admit that I am not quite there), consider storing your documents digitally. Expenses. If your wallet is like a black hole (money seems to disappear the second it connects with you), then it may be time to do a spending cleanse. If you are not sure where to start, consider this list: Eating out. Eating out is the ultimate black hole of most budgets. If you spend $10 on lunch and cut out lunch twice a week, that could add up to $1,000 a year that could go toward a financial goal like a starter emergency fund or paying down debt. If you must eat out, consider downsizing the meal – water only, appetizer or cheap entrée with no drink. If you are with a friend or significant other, consider splitting a meal. Your wallet and your waistline will thank you. Cable TV. It never fails to amaze me how some people will work 70 hours in a job they hate to pay for a $150 cable package that they are too tired to watch. Consider streaming devices like Google Chromecast, Apple TV, Amazon Fire TV or Roku to cut the cable cord and stream TV and movies through services like Netflix, Hulu, and Sling TV so you won’t go into television deprivation....

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How to Decide If You Should Run a Business in Retirement

Posted by on Apr 15, 2016 in Articles, Uncategorized | Comments Off on How to Decide If You Should Run a Business in Retirement

Consider how a small business could fit into the retirement lifestyle you desire. Older workers often have the necessary knowledge and expertise to start a business to gain extra income during retirement. But there are many angles to consider before you decide to run a business during your retirement years. There are financial challenges regarding the start-up funds and cash flow as well as lifestyle considerations, such as how much time you want to spend running your business. Here’s how to tell if starting a business in retirement might work for you. Consider the cost. Before you jump headfirst into your own business, consider the physical, mental and time costs involved. If you’re already a business owner, you might have some idea of the demands. If increasing your leisure time is a goal, you may want to consider how to keep your business running while cutting down on your time commitment. If you’re not yet an entrepreneur, think about what type of lifestyle you want to lead as a business owner. You might want to work 10 hours a week or 40. Some people would rather have a set schedule each week, while others prefer flexible hours. Think about whether you want to work with people or be primarily on your own. Your income needs are also important. Consider whether you need to make a few hundred dollars a month or a few thousand. Your lifestyle needs can help determine the type of business you want to begin. You might want to be able to travel while you work. For example, you could start a blog, which you can run from anywhere but could require a lot of time. Or you could start a crafting business where you work alone during the week and then interact with customers at craft fairs on the weekends. You might need to use some of your own money to get the business started. Some businesses can be launched for just a few hundred dollars or less, while others cost thousands or more to start up. Consider how much you can safely afford to invest in the business, and don’t put any money down that you can’t afford to lose. Consider your retirement benefits. Continuing to earn income in retirement could impact your retirement benefits. Your income might affect the size of your Social Security payments. If you are age 65 or younger and earn more than $15,720 in 2016, part or all of your Social Security benefit could be temporarily withheld depending on how much you earn. However, after your 66th birthday there’s no longer any withholding if you earn above the limit. Continuing to work could also make your Social Security income taxable. For 2016, your Social Security benefits will become partially taxable if your adjusted gross income, nontaxable interest and half of your Social Security benefit tops $25,000 for individuals and $32,000 for couples. If these income sources top $34,000 for individuals and $44,000 for couples, a greater share of your Social Security benefit, but not all of it, will be taxed. If you continue to work after signing up for Social Security, remember to determine just how your earnings will affect your Social Security income during retirement. It’s about your preferences. Whether or not you should run a business in...

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Retirement Isn’t About Losing Identity

Posted by on Apr 13, 2016 in Articles, Uncategorized | Comments Off on Retirement Isn’t About Losing Identity

It’s a chance to create a ‘second act.’ When my friend Lowry was 87 years old, she happened past a neighborhood travel agency in Glendale, California, a city where she’d lived for more than 20 years. She noticed a young man standing in front of the window, peering in. He looked to her like a man who was burning to go in and buy a ticket to a faraway place, but something was stopping him. The fleeting moment was so profound for her that she took it as a sign to make a change in her life. Lowry, a grandmother who taught business for nearly six decades, packed her world atlas and her old typing manuals, and began a chapter in travel adventure that included a Greyhound bus trip across the United States, and celebrating her 88th birthday in Bangkok. At the time, I was in my 20s, deeply involved in the world of work, not thinking at all about getting older, retiring, or what I might like to do in my second act. Lowry’s adventures registered most for me because she was a friend of my family, and was using my parents’ house as home base at the same time I was there, getting ready to fly the coop. Lowry lived to be 98. Now that I am 64 and in my first year of retirement after a career as an English teacher, I miss her. I wish Lowry were still around so I could talk to her about getting older, about adventure, about identity after work, and about how we approach this next phase of our lives. Many people consider retirement to be a blissful payoff for a lifetime of hard work. Without the confines of a job, you wake up happy each day to an empty calendar, infinite choices and no work stress, the thinking goes. I am not unappreciative of the free time before me. Yet as much as I enjoy making my own schedule each day, it occurs to me that there’s actually a formula for doing retirement right if you want a successful second act like Lowry. I believe it goes something like this: Retirees who seem to have no trouble going from working to not working did not identify themselves mostly by what they did for a living. Even if they did call themselves accountants or physicists, they no doubt also relied on other self-definitions. Next, either add to your circle of friends or re-educate those you have about your new endeavors. You have to spend time with people who identify you in this new way. It’s easier to let go of an old identity and craft a new one if you have relationships with people that match what you envision for yourself. For me, I always saw myself as more than a teacher, but it still feels odd to go from being one thing to not being that thing at all. I am replacing it with both travel and exploring my youthful dream of becoming a writer. To ease my transition, I enrolled in a writing grad program while I was still working to get myself ready for the shift. But I’m still struggling with seeing myself in an entirely new light. When I was talking to a fellow retiree recently,...

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How to Free Up Money to Put Toward Retirement

Posted by on Apr 7, 2016 in Articles, Uncategorized | Comments Off on How to Free Up Money to Put Toward Retirement

With a few tweaks, you can find more money to invest in your future. According to a recent survey by the TransAmerica Center for Retirement Studies, 61 percent of people currently in their 40s expect to either work past age 65 or not retire at all. The numbers weren’t much different for survey-takers in their 50s, with 59 percent expecting to work past age 65 or not retire at all. It’s no secret that Americans have some work to do when it comes to saving for retirement. Nearly every authority in the personal finance and retirement arenas has been touting the very real need for people to increase the amount of money they are saving for retirement. Americans know what they need to do, but the big question is: “Where can I find more money to put toward retirement?” Varied reports in the financial world tell us that between 40 to 60 percent of families are living paycheck-to-paycheck. Those living on a tight budget might find it difficult to find more money to put toward retirement, however there are often hidden ways for people to free up money that can then be used toward retirement savings. Here are seven ways to find more money to put toward your retirement. Start Budgeting and Tracking Spending A 2013 Gallup poll found that only 1 in 3 American households prepares a detailed budget to track spending. The fact is, you can’t manage your money more wisely if you have no idea where it’s going in the first place. By planning out where you want your paycheck to go, and by tracking where you spend money each month, you can better direct your money toward your most important financial goals – including retirement. Cut Unnecessary Expenses Unnecessary expenses often devour a large portion of a household budget. The average American spends over $200 a month on restaurants alone. Here are some nonnecessities that you may be able to cut back on – or eliminate altogether – that will help you put more toward retirement. Cable or satellite TV packages Gym memberships Magazine subscriptions Restaurant or takeout expenditures Cutting back on or eliminating unnecessary costs and putting some or all of that newfound cash into retirement vehicles can help assure you’ll live more comfortably during your retirement years. Find Ways to Decrease What You’re Spending on Necessities Necessary expenses such as groceries and insurance can’t be eliminated from your budget, but those expenses can often be reduced. Try making a detailed meal plan for your household and grocery shop only once a week. Skip the snack foods l as well in order to reduce grocery expenditures. Shop around for insurance quotes to see if you can find insurance for less. Work to reduce your electricity bill by being more mindful of energy usage. By examining each necessary expenditure to see if you can spend less, you can free up more cash to put toward retirement. Drive Paid-For Cars The average car payment for Americans today is $482 a month. Instead of taking on car loans, choose instead to buy reliable used cars that you can pay for with cash, and put the money you would have spent each month on a car payment into a retirement vehicle. Downsize Your House Is your mortgage payment...

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How to Rightsize Your Retirement

Posted by on Apr 5, 2016 in Articles, Uncategorized | Comments Off on How to Rightsize Your Retirement

About a third of Americans between ages 50 and 64 plan to move within the next five years or so, according to a survey by the Demand Institute. Some baby boomers – especially those who have been renting all their lives or who never moved up from their starter house – actually plan to spend more on their homes in retirement. But more often than not, the baby boomer move will involve downsizing. They will trade in the old family home for smaller digs, perhaps in a less expensive neighborhood. Putting the old house on the market and clearing out decades worth of possessions can involve a lot of work and emotional unrest. Many people who do not plan to move actually cite their overwhelming amount of possessions as a significant reason they are staying put. But there are enormous benefits to cleaning out the clutter and changing to a simpler lifestyle. It helps to think of a move not as downsizing, which suggests sacrifice, but as a liberating choice that points us toward a less stressful and more rewarding lifestyle. But whether we’re moving across town, across the country or not moving at all, we shouldn’t let our future lives be weighed down by our past commitments or former obligations. The best solution, for all of us, is not necessarily to downsize or upsize, but to rightsize. We should choose a home, neighborhood and lifestyle that allows us to pursue our true dreams in retirement. Here are a few suggestions inspired by a new book by Kathy Gottberg, “RightSizing: A Smart Living 365 Guide to Reinventing Retirement”. She also blogs at Smart Living 365 about making “conscious choices for a better lifestyle that more closely fits your new needs in retirement.” Step off the keep up with the Joneses treadmill. Some of us have our self-esteem wrapped up in the size of our house or how fashionable our neighborhood is. But at this point in our lives, we should be beyond such superficial comparisons. It’s not what you have that’s so important, but what you do. So stop trying to impress your friends and neighbors, and start enjoying life as you want to live it. More freedom in your life. A smaller home brings lower house payments in terms of taxes, insurance, utilities and maintenance. It also means less clutter, less work and less stress. Maybe you can even get your new home without a mortgage. The money you save on your home can be used to finance the things you like to do, whether it’s travel, a new hobby, helping out your children and grandchildren or shoring up your retirement savings. More time to do the things you want. The bigger the house, the more maintenance you have to do. The more stuff you have, the more you have to clean, store, fix and find. Once you rightsize your life for your new stage – with no kids, no job, no obligations – you can spend your time doing the things you enjoy. You no longer take care of things for other people, but have the time and energy to pursue your own interests and passions. A more friendly neighborhood. If you give up the big suburban yard for a little patch of cityscape, what you lose in...

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The 3 Biggest Financial Surprises for New Retirees

Posted by on Mar 31, 2016 in Articles, Uncategorized | Comments Off on The 3 Biggest Financial Surprises for New Retirees

Now that 2015 bonus checks have been issued and stock grants have vested, thousands of executives will retire from their companies on March 31. After working for decades, they are ready to enjoy life with few worries, thanks to solid financial planning. But for some, the financial plan they’ve taken years to craft may be disrupted by unexpected events. If that happens, your financial plan, expectations of travel abroad and lifestyle choices may need a major overhaul. Having helped hundreds of corporate executives plan for retirement over the past 16 years, I can share a list of the three biggest surprises that can upend a retirement plan — and some recommendations on how to cope with them. Surprise No. 1: Ailing parents. One or both parents of the retiree need nursing or assisted living care and don’t have the money to pay for it. In most cases, new retirees need to determine how much they can afford to pitch in and how it will impact their own financial future. Unfortunately, elder care is not cheap. While costs vary by state, long-term care insurer Genworth estimates that the median annual cost of a private room in a nursing home is more than $90,000. Another option is to determine if it makes more sense for the new retiree to become the caregiver. Providing daily care will lessen the financial impact on the new retiree’s nest egg, but it will also cause a major lifestyle change. This situation can often lead to difficult conversations with siblings who may not have as much personal time or the financial resources as the new retiree. To make certain this scenario doesn’t disrupt a person’s retirement plans, I ask my clients this question: “Is there anyone else in your life that you may need to support financially one day?” If the answer is yes, funds need to be set aside to cover these costs. “Parents always want to help their children out of trouble. But … it helps to know how much money you can afford to give before it wreaks havoc on your retirement plans.” Surprise No. 2: The unused vacation dream home. Planning to spend weekends and summers near the beach or the mountains, the retiree also envisions the vacation home as the ideal location to host adult children and grandchildren for holidays and other big events. Unfortunately, this plan doesn’t always pan out. Several years ago, one of my clients purchased a vacation home in the mountains of Tennessee for this very reason. But after his adult child moved north as part of a job promotion, the retirees ended up traveling there to see their grandchildren and rarely used the vacation home. In addition, the Tennessee property didn’t appreciate much over time, so the main reasons for buying the home were nullified. The retiree and his spouse sold the home, but the proceeds were barely enough to cover the mortgage, meaning they had little to reinvest. While this particular scenario was difficult to predict, anyone caught in a similar situation needs to determine if they want to keep their property and, if not, the best way to get rid of it. For example, if the home was purchased before the Great Recession of 2008 and has declined in value, the new retiree will...

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3 Times It’s Smart to Take Social Security Benefits at 62

Posted by on Mar 29, 2016 in Articles, Uncategorized | Comments Off on 3 Times It’s Smart to Take Social Security Benefits at 62

One of the toughest choices for Americans approaching retirement is when to start taking Social Security benefits. You can claim as early as age 62, but waiting longer to file can boost your eventual monthly payments substantially. Although most of the advice you’ll see suggests that waiting past age 62 is the smartest decision, there are some situations in which filing as early as possible is in fact the best move. Situation 1: If the Windfall Elimination Provision will affect your retirement benefits For most workers, the Social Security Administration won’t cut your benefits even if you have outside sources of retirement income from an employee pension. However, for public employees who didn’t pay Social Security payroll taxes throughout their careers and instead paid into a public pension plan, the Windfall Elimination Provision can reduce what you’ll get from Social Security. If you paid Social Security taxes for fewer than 30 years during your career, then your Social Security benefits are subject to reductions of up to half your government pension payment. The reduction is subject to a maximum of $428 per month for 2016 for those who worked 20 or fewer years in the Social Security system, and that maximum slides downward for those with 21 to 29 years of Social Security payroll tax-paying employment. This reduction only takes effect when you start receiving your government pension. For some public employees, pension payments don’t start until age 65 or later, so claiming Social Security at 62 can give you three or more years of unreduced payments. Depending on the size of your Social Security benefit and your pension, the fact that you can avoid the Windfall Elimination Provision for a while can offset the fact that you’ll get smaller payments throughout your retirement. Situation 2: If the Government Pension Offset will affect your spousal benefits A situation similar to the one above occurs for those seeking to claim spousal benefits based on their spouse’s work history. If you receive a government pension based on wages on which you didn’t pay Social Security payroll tax, then the Social Security Administration will use the Government Pension Offset to reduce any spousal benefits you’re entitled to receive. In general, spouses of eligible workers are entitled to spousal Social Security benefits. The Government Pension Offset can be more draconian than the Windfall Elimination Provision. Your Social Security benefits will be reduced by two-thirds of your pension amount, with no maximum limit. That means some spouses end up getting no spousal benefit at all because of the Government Pension Offset. Like the Windfall Elimination Provision, the Government Pension Offset only applies once you start receiving your government pension. Therefore filing for Social Security early can sometimes get you at least a few years of spousal benefits before the Government Pension Offset reduces or eliminates them. Situation 3: You have a terminal illness, and your decision won’t harm surviving family members Part of the reason why Social Security payments are lower if you file earlier is that the Social Security program factors life-expectancy assumptions into its payment formula. If you know you won’t live long enough to take benefits at full retirement age or later, then claiming early Social Security is your best way to get at least some money from the program. It’s...

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5 Hard Truths About Money Even Smart People Forget

Posted by on Mar 24, 2016 in Articles, Uncategorized | Comments Off on 5 Hard Truths About Money Even Smart People Forget

We’ve all been there: You’re thinking so hard about how to solve a problem that you don’t notice the solution is right in front of you. Smart people do this all the time, sometimes overcomplicating their personal finances. By overlooking simple financial truths, otherwise intelligent people can make a mess of their finances. Take a look at some of these simple financial truths. Which ones deserve more of your attention? Behavior significantly affects the results of financial plans. Even the most intricate financial plans are not immune to human behavior. Unfortunately, it’s really easy to be rational and reasonable on paper, but it’s another story to be rational and reasonable in practice. Financial planners understand this, as they have experienced firsthand how clients will often drift from the path laid before them — many times capsizing their lives. Our desire for instant gratification and quick solutions can overshadow long-term plans. For example: A new truck purchased using retirement funds can lead to a lifetime of undesired employment. Withdrawing funds from a turbulent market can result in a permanent loss. Purchasing a variable annuity could subject you to paying steep fees. Desperate actions are often followed by sharp consequences. Never avoid the simple financial truth that, even though you have a financial plan, you must use significant self control to see positive results. Even the wealthy need a budget. Smart people are often good at making a living — a great living. But that doesn’t mean they don’t need a budget. Sometimes they think they don’t, but they’re wrong. Well, that is, unless they want to be severely ineffective with their funds. Wealth brings with it a great deal of responsibility. Making big mistakes with few assets results in few losses. Making big mistakes with many assets results in huge losses. Many wealthy people don’t feel the need to create a budget because they are able to “out pay” their financial negligence. But that comes at a high cost. Instead, if you’re wealthy, you should truly consider the long-term benefits of creating a budget. By doing so, you should be able to identify several areas where you can save some money, which you could turn around and invest. You’ll also have the opportunity to prioritize your spending so you can make the most of your awesome income. The smart thing to do is get on a budget — regardless of your financial status. Money isn’t what matters most in life. Smart people are great at calculations. But sometimes they get wrapped up in finance so much they forget the simple financial truth that money isn’t what matters most. Money is simply a means to achieve certain financial goals. It can’t buy everything, and it certainly can’t buy the most important things in life. Think about your family. Think about the meaning behind your work. Think about your friendships and the way you help others. These are all more important than money. However, money certainly can help your family. It can also enable you to embark on a new career path. And, it can help you go out to have a good time with friends or give to others in need. Money can certainly help you in many ways. But it isn’t the full story. Money never buys the best relationships or the most meaningful work. That’s because money is a tool. But...

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The 3 Best Money Exercises to Build Your Bank Account

Posted by on Mar 22, 2016 in Articles, Uncategorized | Comments Off on The 3 Best Money Exercises to Build Your Bank Account

Americans are so financially out of shape these days, they pull a muscle just thinking about saving money. Two in three Americans don’t have enough money in savings to afford a $500 financial emergency. Nearly one-third of households making $75,000 or more a year occasionally live paycheck-to-paycheck. Some workers believe they’ll work until they drop dead or become too sick. It’s an epidemic. Much like working out, a variety of excuses keep millions of people from saving money. Perhaps you think you’re too busy to budget, too young to worry about the future, or too broke to save anything. But, in the end, nobody cares about your finances as much as you. Let’s take a look at the three best money exercises to help build your bank account. Automatically pay yourself first Paying yourself first is a golden rule in personal finance. The concept is simple: Everyone is collecting money from your paycheck, why shouldn’t you be the first person in line? Instead of trying to save what money is left over at the end of the month, which always seems to be less than predicted, place money aside before spending money on anything else. This doesn’t mean you should stop paying monthly bills in order to save, but rather adjust your spending habits so you find a healthy balance between savings, necessities, and wants. After paying everyone else first for so many years, it can be difficult to break the bad habit. Make your savings automatic so you don’t face temptations. Having your contributions pulled directly from your paycheck or bank account significantly improves your chances of building up your bank account. A report from HSBC finds regular savers accumulated an average of $168,099 in retirement savings and investments, compared to only $86,529 by those who only saved from time to time. Track your spending Your bank account is never too strong to carry your lunch to work. Using the proverbial brown bag can be cost effective and healthier than eating out. The problem is we tend to ignore our financial health in favor of convenience. Before you know it, you’re spending thousands of extra dollars a year on thoughtless spending. A recent survey from Visa finds Americans spend about $20 per week for lunch meals out. That may not sound significant, but eating out for lunch totals $1,043 per year. Americans also spend almost double on lunch meals out compared to self-prepared lunches. Make a point to track your spending for at least one month. You’ll likely find you’re spending more money than you realized on at least one area in your life. Ask yourself if the price is worth the value you’re receiving and if it’s worth not saving that money for your future self — the person who may face a financial emergency or want to retire. After tracking your expenses for one month, try tracking them for an entire year to capture more financial transactions. Even semi-annual expenses can be reduced if you pay close enough attention. For example, increasing your auto insurance deductible from $500 to $1,000 cuts premiums by an average of 8.5%. Make your own rules Life is full of rules. We’re taught rules during childhood and never really grow out of them. When we’re adults, we’re told rules like how much...

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