Archive for August, 2011
The 1% More Savings Calculator
Need some motivation to help you save a little more from your paycheck? The New York Times has a nice calculator that will show you exactly how increasing your savings by just 1% can make a significant difference over time. One thing to note, by default they have the “expected annual return” set to 5%. I’m not aware of any savings accounts that currently offer that kind of interest rate, so you’ll want to move that slider to whatever your savings/money market/CD is earning for you.
Increasing your savings by one more percentage point – or even better, another percentage point a year – can add up to big additional savings over time.
Monday Money – August 1st, 2011
Posted by Mathew in Monday Money on August 1, 2011
Going to try a regular feature here. Monday mornings tend to have an influx in articles and blog posts, since most journalists and bloggers try to take some time off on the weekends. Every week, I’ll post a roundup of some of the articles I’ve found interesting and helpful.
Our First of the Month Financial Routine | Frugal Dad – Read about Frugal Dad’s beginning-of-the-month routine. Some neat ideas I’m interested in trying out.
New Report Reveals Consumer Confusion in the Credit Score Marketplace | MintLife Blog – With more and more websites offering “free” credit scores, it’s important to know what you’re getting.
“Piggybacking” can pose a serious risk | Ask Liz Weston – Things to know about adding an authorized user to your credit card.
The Federal Debt: When Compound Interest Is Crushing | The New York Times Bucks Blog – The harsh reality of compound interest.
If you’ve found any useful or interesting articles around the web, share them in the comments.
Back-to-School Shopping
Get Rich Slowly outlines plenty of ways to save money on your back-to-school shopping. My kids aren’t quite at the school age yet, but I still found this post interesting. I’ll definitely be revisiting this post in the future, when back-to-school shopping is on the agenda. The following quotes were quite surprising to me:
According to the National Retail Federation, we’ll spend $68.8 billion outfitting our students for school this year. Yes, I said $68.8 billion. Sounds like a lot of money, right? But the NRF actually considers this “flat.”
The NRF notes that families with kids in elementary and secondary school spend an average of $603, and parents of college students fork over about $808. This includes clothing and electronics as well as notebook paper.
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