moneycentral.msn.com— Stop making the same mistakes every year and wondering why you can't save. Break the cycle and change your life.
Jul 26, 2006View in Crawl 4
Your goal is to save in case you no longer have income. Based on your current savings, if you suddenly were no longer able to work, how long could you pay your bills? Have a mortgage? Better save a bunch.
You're probably broke because you don't handle your money right. Everyone should check out <a class="user" href="http://daveramsey.com/">http://daveramsey.com/</a>This guy is really good with this stuff. He was once a multi-millionaire and then he lost everything. He started from scratch and has pretty much became rich again buy teaching broke people how to do what he did which was come back from it. You can listen to him for free on the radio (he's on all over the US). I personally do not have a big savings or anything, but I've been on the plan for a few months now (I'm debt free and pretty much always have been) and the point of having a small savings just for emergency's is so you don't have to get in to your other money when something comes up. Sure it doesn't get put into stocks or mutual funds or anything fun like that where it can make a lot of money, but it's just enough to fix a car or something like that. That way you don't have to run and put s**t like that on a credit card to get yourself out of a s**tty situcation.
eplawlessJul 27, 2006
I have too much money :(
phoenixrJul 27, 2006
Cannot agree more. Always have a goal!
caffiendJul 27, 2006
Your goal is to save in case you no longer have income. Based on your current savings, if you suddenly were no longer able to work, how long could you pay your bills? Have a mortgage? Better save a bunch.
Closed AccountJul 27, 2006
@stonebear:You mean like how I have none of my own, but I'm pretty careless with other people's?
smergsJul 27, 2006
You're probably broke because you don't handle your money right. Everyone should check out <a class="user" href="http://daveramsey.com/">http://daveramsey.com/</a>This guy is really good with this stuff. He was once a multi-millionaire and then he lost everything. He started from scratch and has pretty much became rich again buy teaching broke people how to do what he did which was come back from it. You can listen to him for free on the radio (he's on all over the US). I personally do not have a big savings or anything, but I've been on the plan for a few months now (I'm debt free and pretty much always have been) and the point of having a small savings just for emergency's is so you don't have to get in to your other money when something comes up. Sure it doesn't get put into stocks or mutual funds or anything fun like that where it can make a lot of money, but it's just enough to fix a car or something like that. That way you don't have to run and put s**t like that on a credit card to get yourself out of a s**tty situcation.
nanostuffJul 27, 2006
Actually US debt is 8.84 Trillion.<a class="user" href="https://www.cia.gov/cia/publications/factbook/geos/us.html">https://www.cia.gov/cia/publications/factbook/geos/us.html</a>Last time I checked it was 8.5, wow. They sure love spending non-existant money.
armbarJul 27, 2006
You must live in Theoreticaland.
blindoglassSep 8, 2009
A nasty habit is to earn less than what you can spend.... ;-)<a class="user" href="http://www.cpafundamental.com" rel="nofollow">http://www.cpafundamental.com</a>