Find out if you're saving enough, how love can ruin your finances, the truth about millennial debt, and more.
Clark – Do you actually know if you’re saving enough money? It’s a legitimate question. Many people just save what they can, without really having a plan for the future. Alex says “if you want to make sure you’re on the right track” there are basic strategies you can follow.
The first one is: “You know what your goals are.” That makes sense. And the goals he’s talking about are “long-term financial goals.” After all, you’re saving for the future. The fifth one is: “You track your savings.” You can easily track your expenses using PowerWallet, a money management tool.
Money Talks News – Karla found a new study by the State Street Center for Applied Research and it reveals “that investors who scored higher on a “love of money” scale developed by the center made worse financial decisions”
I’ll let you read the post and the details of the study to find out why. After you’re finished, read this post and find out why male millennials are more confident in investing than their female counterparts.
Money After Graduation – Bridget offers an eCourse for people overloaded with debt. From that course, she has gathered stats from survey questions people fill out. Stats for millennials show that the most debt they carry is from credit cards and student loans.
This blog also reveals when those millennials will be out of debt – at least a prediction – and whey they’re in debt. Reasons include medical emergencies and poor spending decisions. For some good news, check out his post about how millennial credit scores are rising.
The Financial Diet – Mary has reservations about her college major – a bachelor’s degree in Communications. She’s not sure if it will bring her a lucrative career. As a result, she “decided to ask around to find out” what role does “future money” play in other student’s major.
This is an interesting read. I won’t tell you how many students chose their majors based on finances. But it most certainly played a role – which is not a bad idea. Once you’ve read this blog, read this one on Do Millennials Actually Care About Money?
Route to Retire – When Jim was in college he worked full-time. He loved making money. But the problem was, he didn’t save money properly. Now that he’s older and still making good money, he realizes “your savings rate is more important than how much income you make.”
He warns us against keeping up with the Joneses. He also provides advice on saving money and reveals the “two big financial pushes” he hopes his daughter follows. If your debt payments are preventing you from saving more, read this post about lowering debt and saving for retirement.