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Saturday, June 26, 2010 - 9:50 AM

(Excellent, Simple article.  Exerpts:)


It’s not how much you earn that’s the key to getting on top of your personal finances — it’s how much you don’t spend.


Sock it away
Adopt a Save-to-Spend strategy. It will help you learn to fret less over every penny so you can focus on the bigger picture. According to M.P. Dunleavey, an award-winning personal finance journalist and the author of Money Can Buy Happiness, “While most budgets are designed to control spending, the Save-to-Spend plan is designed to expand your savings.” Aim to save approximately:

- 10 percent of your monthly gross income for retirement

- 10 percent for long-term needs (emergency fund, college)

- 10 percent for short-term needs (new cell phone, field trips)

- and another 10 percent for frivolous, fun pleasures (manicures and moms’ night out!).

The remaining 60 percent should go to regular monthly expenses.
MikeMike327 posts since
Feb 22, 2010
Rep Points: 876