Saving money is great. It gives you a sense of accomplishment as well as helping you feel more secure. But what is a good savings rate? You may be surprised to learn that there is no single right answer, and it depends largely on your age. You see, people at various ages are at different… Continue reading What Is A Good Savings Rate?
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How To Not Live Paycheck To Paycheck
An estimated 125 million Americans are living paycheck to paycheck. You’ll agree that the adage comfort in numbers isn’t exactly comforting when caught up in such a never-ending cycle of fleeting finances. Because that’s exactly how your money seems, by the end of the month—elusive. Most, if not all, of your income, appears to cover… Continue reading How To Not Live Paycheck To Paycheck
How Much Of Each Paycheck Should I Save?
Whether you have a few months’ worth of income tucked away or you’re close to having a down payment for a decent home, having at least a few months worth of savings can give you peace of mind. Evidently, with around 76% of Americans living paycheck to paycheck, saving a decent stash of cash in… Continue reading How Much Of Each Paycheck Should I Save?
How To Save $30,000 In A Year
When my friend said she’d saved up 30k in savings last year alone, I was highly intrigued. I had to look at my paycheck a few times to figure out how someone who was earning a similar amount to me managed to set aside $2,500 per month for an entire year. I ended up just… Continue reading How To Save $30,000 In A Year
The Average Amount Of Money Saved By Age
It’s never too early to practice financial discipline. Stashing some money aside in your savings is a smart move that encourages financial independence, eliminates stress around money, and avoids debt. Also, saving money allows you to have an easier time reaching certain financial milestones, such as buying a car or house. Having extra cash also… Continue reading The Average Amount Of Money Saved By Age
The Average Bank Account Balance By Age
Recent studies show that the typical American has an average of $41,700 in their bank accounts. Now, whether you perceive that amount as high or low will depend on several factors, such as your income level and tax bracket. Low-income earners might scoff at the thought of having that much money lying idle in their… Continue reading The Average Bank Account Balance By Age
Where To Put Your Savings Money
If, at the end of each month, you have additional money to put aside for the future, you should consider yourself well-off. That’s because as many as 75% of US residents are reported to be living paycheck to paycheck. But living below your means is only one part of the equation—you also need to know… Continue reading Where To Put Your Savings Money
The Meaning of Living Paycheck To Paycheck
According to several reputable sources, between 50% to 75% of Americans live from paycheck to paycheck. While the phrase is typically used to describe the lower working class, this phenomenon cuts across several income levels. Living paycheck to paycheck means you are never able to put money away in savings. It’s also true that many… Continue reading The Meaning of Living Paycheck To Paycheck
How Much Should Go Into Savings?
Depending on which source you think is most accurate, between 50 and 75 percent of Americans are currently living paycheck to paycheck. Maybe you also fall into this category. But while a strong desire to change the status quo makes a perfect start, you’ll need a lot more to get some savings socked away. Saving… Continue reading How Much Should Go Into Savings?
How Much To Put Into Savings Each Month?
Saving is anything but easy. While many Americans are aware that saving is a critical step toward achieving financial freedom, walking the walk is quite a challenge. Especially in today’s world, which is dominated by the culture of convenience. The truth is that for many people, after paying their rent or mortgage, auto loan, and… Continue reading How Much To Put Into Savings Each Month?
