Tag Archives: savingmoney

A new way to Student

As a college student I am required to buy quiet a few books each semester. Going to the school store can be very intimidating. So many books for all the different majors. I find myself waiting for assistant to find a book, and then waiting again to get through the check out line. On average it takes me about thirty minutes to get my books. Never again, now I order all my books through Chegg.com.

Now that I use Chegg it takes me 10 minutes to get all the books I will need for that semester. One of my favorite features that Chegg offers is the ability to read the books before they arrive. They give you access to an online book immediately after purchase. However, some books do not offer this due to copyright issues.

In addition to selling books Chegg also offers a lot of studying tools for all sort of subjects. From study guides to Q&A with Tutors, Chegg has all you student needs.

https://www.chegg.com/

Tips & Tricks for Retirement Planning

https://www.investopedia.com/terms/r/retirement-planning.asp

Hey everyone,

I’m somewhat of a geek when it comes to money and numbers, so I decided to post the above link from Investopedia, a well-known resource for both rookie and veteran investors. What I like most about this site is that content is very easy to follow, even for laymen. Most articles usually start out with more broad concepts and eventually work their way to the more nitty-gritty details, allowing for maximal comprehension. This particular article outlines some tips and tricks for retirement planning in somewhat of a chronological fashion.

The author, Julia Kagan, starts by pointing to the constant state of change we see in the world of finance and how that can effect retirement. Following this, the focus turns to the individual as the author suggests that each individual has different needs and goals for retirement which can effect the appropriate strategy; the key-word here is customization. For example, folks wanting to unwind and avoid society after their work years would not require as aggressive a strategy as someone who wants to visit every country in the world before they die. With this in mind, it’s important for individuals to know where they stand and where they look to be before starting out.

Withstanding individual differences in needs and strategy, the author then sets out to break down the planning by years. For example, the optimal age to start saving is 21 however the first “period” outlined, stretches from 21 to 35. During this time, the author suggests making consistent, monthly savings. Moreover, the author sympathizes with young folks, acknowledging that this may be a time in one’s life in which it is hard to save or even hard to think about saving for that matter. Withstanding the barriers involved, the author suggests increasing the percentage deducted each year as income typically rises. The second stage, dubbed “Midlife” from 25 to 50 years of age, is a time in which individuals should continue saving and increasing the amount allotted to their plan. Though there may be additional expenses occurred during this age-frame (i.e. mortgage, student loans, children, etc.), it is important to remain consistent. Lastly, age 50-65 is labeled “Later Midlife.” It is during this time that saving should be the highest and is coincidentally, also the easiest time in life to save. It is during this time that debts such as student loans, mortgages, etc. are beginning to get paid off in addition to increased income stemming from promotions (lots of work experience at this stage in the game).

Kagan concludes by covering other miscellaneous aspects of retirement such as housing, taxes, healthcare, etc. Again, these needs can vary widely and are subject to individual differences. I’m glad however that the author did manage to touch on these points as they are an important part of retirement that often gets overlooked. For example, many Americans have become accustomed to relying on Medicare once they reach the age of 65, knowing that they paid into the system and are rightfully entitled to their benefits. What isn’t so commonly known however is the blatant inefficiencies within these systems, as more and more seniors are purchasing supplemental coverage to fill the gaps. This is an expense that often isn’t planned for in a standard retirement account, but should be. Lastly, the author provides links throughout the article to external resources that can help the viewer with both tangible (i.e. starting an account, pulling up a calculator, etc.) and educational tasks. I think this article can be especially helpful to a lot of young folks who are just starting out and have a lot of questions. What’s more, once the viewer gains knowledge, there are supplemental materials for more seasoned investors as well, with easy to reach links and related articles, making it a user-friendly site for many demographics.

For a quick snippet of the milestones associated with each age level, check out an Instagram post I shared.

Thanks for reading,

-David

Savings on a College Budget?

o-college-bank-facebook

I’m totally going to rant out for a moment about a blog post I read on how to save money.

First off let me warn you, I’m paying my way through college, while working a fulltime job that barely makes ends meet. So I’m sure you can imagine it’s difficult for me to look at saving money the same way as someone who can live off of 51 percent of their income. Currently a growing savings account to me is a fanciful land where fairies and dragons roam lush forests filled with rainbow waterfalls, Reality is… However, I still thought I should read the blog post and see what I could learn about saving some extra money. Here’s a snapshot from the blog: “Throughout the year, I lived on an average of 51 percent my income ($28,000), saved 31 percent ($17,000), and spent the other 18 percent on travel ($10,000). I proved that I could live on less, save more, and do more of what I loved, and learned so many other lessons throughout the process.” The author goes on to share some suggestions like cutting out spending money on nonessentials such as her $100 plus a month habit of buying coffee. Are you kidding me? That’s when I realized my monthly savings is the equivalent to someone’s bad coffee problem and I couldn’t relate to what I was reading. The author leaves out the possibility that her audience might not have the same financial means as she does. The post would have been more effective had she considered a wider audience. I, like the author of the post I disagree with are biased. Having your own perspective is an inevitable aspect of online communities and it’s not a bad thing, we just have to recognize this factor.

Link to post:

https://www.huffingtonpost.com/entry/i-lived-on-51-of-my-income-saved-17000_us_5a60f7bce4b0e07b3731ceea

 

 

 

Reduce, Reuse, Recycle – IN THAT ORDER

So many people get caught up in the recycle part of that old adage, which is the last part of the statement. The last part. That should tell you something.RRR

I think people get hung up on recycling for two reasons: it’s easy and it’s advertised.

The marketing campaigns and city sponsored programs made that a slam dunk. But the thing is, that is on the low end of the spectrum when it comes to actually making a difference.

We’ve all heard stories about how you separate your recycling and then when it gets to the dump or the processing plant, they just throw it all in together anyway. Or that if one little contaminate gets into the recycling that should have been there, the plant will just toss the lot into the dump because they can’t process it. I certainly hope those are just urban legends, but they are probably at least partly true.

Even aside from the idea that just because you put something in the recycle bin at home, doesn’t mean it goes where you want it to, we still have to consider the process of breaking that product down and creating a whole new product. It’s expensive and energy consuming.

Let’s compare recycle to the two, often overlooked, other components of the adage.

Recycle: buy a new product, throw it (or the package) into a recycling bin, and then buy a new product. Lather, rinse, repeat for eternity.

Not only are you spending money on a new item over and over, but the factories keep burning energy churning out new products and the recycling plants keep processing all the waste.

Reduce: buy less and use less.

Saves you money, saves energy from lower production and processing time, saves space in landfills.

Reuse: buy one thing and then use it again and again.

Saves you money, saves energy from lower production and processing time, saves space in landfills.

Hopefully, you can see the advantages of the reduce and reuse part of the equation: it saves you money.

If you’re still wondering how this saves you money, think about just the packaging. Every time you buy a new product you pay for the packaging, again.

Let’s consider bottled water – this is an item that blows my mind when I think about it too hard. Every 20-ounce bottle of water comes in its own package (the plastic bottle) with a lid and label to show the brand. So you’re paying for the water in the bottle (which you could get free elsewhere), you’re paying for the plastic to hold the bottle (which you will proudly recycle so that it can be destroyed and made into a new plastic bottle or widget), and you are paying for the brand name (because water needs a brand?).

A gallon of water is 128 liquid ounces, so roughly six and a half bottles. If you pay even a single dollar for that bottle of water you are paying $6.50 per gallon of water … How much is gas these days? And that’s a cheap bottle of water! Most people are probably paying double what they would for milk or gas for something they can get FOR FREE!!!

Seriously, my brain hurts!

If you want to learn more about the true cost of bottled water, here is a great video by the Story of Stuff team

There are all kinds of products available that you can put free water in over and over and over again. If you’re worried about purity, you can buy a bottle with a filter that can be reused 300 times for under $10. THINK OF THE SAVINGS!What are your Earth, and money, saving tips? Post below, I can’t wait to see all the ideas!

View this post on Instagram

Save a dollar, save the world #reuse

A post shared by Kathryn Schmidt (@onestepgreener) on

#Blog1 #Type1 #BottledWater #GoingGreen # GreenLiving