Savings Essay, Research Paper
SAVINGS:
Shop around for a bank that offers you free checking and waives ATM fees if you maintain a low minimum monthly balance in your checking account or in a combination of accounts. This can save you hundreds of dollars a year.
You also need to sign up with a credit union to minimize your banking costs. To find out if you?re eligible to join one, call 800-358-5710 and ask for the number of your states Credit Union League.
Don?t put your money in a money market account just because, it pays a slightly higher interest rate than a plain old savings account. To avoid monthly maintenance fees, you often have to keep more money in a money market account than you would in a savings account.
If you?ve been charged an outrageous fee for a bank service, complain. Being forceful but polite will often help you persuade the banks customer service rep to waive the charge.
You also need to resist buying mutual funds on which banks charge commissions. Look into some of the low-cost mutual fund companies.
INFLATION:
Inflation can drastically reduce the purchasing power of the dollar over time.
If the company you work for has a retirement savings plan or open an individual retirement account (IRA) at a no-load mutual fund I would say join right now.
If the company you work for offers you a 401K put as much money in the 401K as your employer will match. A 50-cent match for every dollar you put in is the same as earning a fifty percent return on investment.
Before you up and quit your job or you find a job that better suits you, check and see if you have worked long enough to take all your 401K money with you when you decide to leave. If that is not the case, consider staying for a few more months, because that could be the difference between thousands of extra dollars in your pocket.
If your work for yourself, check out SEP-IRA?s and Keoughs. These plans may permit you to stock away much more money for your retirement that what you could with an IRA alone.
INSURANCE:
You need enough life insurance to provide for your dependents (spouse and children) so that they can carry on a decent life style if you were to pass on. If you have infants, which means that you need to figure out how much they will need to live for at least the 15 to 20 years. When a company offers a flexible benefit plan, you should think carefully. If you are single and without any dependents, you would want better health insurance or more disability coverage. What ever you do, don?t go without health insurance, no matter how healthy you may think you are. The easy way to find affordable coverage is to see if there is a group you can join, such as a trade association, or a religious organization, that offers group insurance. If you are between jobs, purchase low cost temporary coverage.
When buying car insurance, check several companies that sell directly to consumers. Also remember who is driving your car because if they were to get in an accident your insurance rates will go up not theirs. You also need disability insurance in the event you are unable to work due to injury or illness. Ideally, you should have coverage that will pay you seventy percent of your income if you were to become disabled. If you rent a house or apartment, you need to have renters insurance. The reason for this is in case a fire breaks out or you are robbed. This way any of those things happen you will be covered.
INVESTING:
When you are thinking of making a investment plan the first thing you should do is to build an emergency saving fund which is equal to three months of your living expenses. After you have done this you should take this money and put, it in a money market fund. The next step in doing this would be to invest in stock and bond mutual funds. Your best bet is probably index funds since actively managed funds tend to charge higher fee and on average have not perform any better historically. Invest only in no load funds. If you invest in load funds you will have to pay hefty fees, which you not need because there is no evidence that they are better. Don?t invest in a mutual fund that charges investors high expenses. As of this writing,?expense ratios? average about 1.5 percent a year for stock funds, just under 1 percent for bond funds, and around 0.6 percent for money market funds. Find a fund that charges you lower expenses. Sign up for an automatic investment plan. This kind of plan would allow you to have small amounts of money, for example $25.00 each month withdrawn from your bank account or paycheck and funneled into a mutual fund.
TWO THINGS NOT TO DO:
Rental car collision insurance: If you?ve ever rented a car, you were probably asked if you wanted to buy the collision damage waiver, or CDW. Next time, do a little research in advance. Review your credit card agreement to see if you are already protected when you charge a car rental on the card. And if you already have collision coverage on your own cars, find out if your policy extends to rented cars. Warning: This is different from rental liability insurance, which you may need if you don?t own a car or your auto policy doesn?t cover rented cars.
Flight insurance: If you need to insure your life, the cheapest way to do, it when you?re young is to buy a term life insurance policy. If you don?t need to, you shouldn?t waste money by buying life insurance at a vending machine in the airport. Sure, it?s tempting (this type of insurance plays on your fear of flying) and, it also seems cheap, but, it doesn?t make sense. Your chances of slipping and killing yourself on the ground are much greater than your chances of dying in an airplane crash. Besides, you may already be covered; some credit card companies give you automatic flight insurance if you charge your tickets on their card.
Bibliography
smith,robert. “Business in America”,time,june 6,1995
Другие работы по теме:
George Washington Carver Essay Research Paper George
George Washington Carver Essay, Research Paper George Washington Carver American educator and an outstanding innovator in the agricultural sciences. Carver was born of slave parents near Diamond, Missouri. He left the farm where he was born when he was about ten years old and eventually settled in Minneapolis, Kansas, where he worked his way through high school.
Romeo An Juliet Essay Research Paper hi
Romeo An Juliet Essay, Research Paper hi i need an essay about a character in romeo and juliet that demonsrtated maturity. in a well developed multi pagraph essay and say why you think the character’s maturity was greater than the other characters in the play.
Information Verses Labor Essay Research Paper I
Information Verses Labor Essay, Research Paper I always have to toot the horn for information verses skilled labor. Coming from a fairly leftist working class person, it may seem a bit odd, but we have to
Great Depression Essay Research Paper Explain the
Great Depression Essay, Research Paper Explain the underlying and immediate causes of the Great Depression. The causes of the Great Depression are all important and mostly interrelated. The distribution of wealth was far outbalanced as much more money was acquired by the rich. Oversupply and the inability of consumers to buy products caused several more problems.
Ethan Frome Essay Research Paper 091000
Ethan Frome Essay, Research Paper 09.10.00 Ethan and Zeena Frome were always very rich, but Ethan hasn’t ever been happy. He decided to start a farm. This worried Zeena very much so she brought along
Oh Really Essay Research Paper Oh Reallyyou
Oh Really? Essay, Research Paper Oh Really, you think i am a lark, the dogs they run and bark, but when i say to them, shut up shut up shut up, you say to be nice to them,
Is Singapore A Model For The West
? Essay, Research Paper Is Singapore a Model for the West? Singapore has definitely made the most out of their location and their small size. But would their lifestyle and economic management work for other countries? This is the question that can only be answered by looking to the dedication and discipline of the citizens and leaders.
Finance Essay Research Paper
Finance is a) the management of money, and b) money resources. All businesses need short-term finance from the very beginning to start up the business and to cover day-to-day running costs.
Employee Benefits Essay Research Paper If you
Employee Benefits Essay, Research Paper If you have employees, than salaries, wages & benefits are a large part of your monthly expenses. You want to make sure you are getting the most productivity for your money.
Matt Bagwell Essay Research Paper Have your
Matt Bagwell Essay, Research Paper Have your ever known someone who was obsessed with his car. So obsessed in fact that it becomes part of his identity and changes his personality. All the money this person makes goes into the car. There is one such person who is a model example. Matt Bagwell. He owns a 93 Ford Mustang GT.
Around The World In 80 Days
–Br Essay, Research Paper Around the World in Eighty Days is a classic novel by Jules Verne about an English gentleman by the name of Phileas Fogg. Fogg was quite an unusual and mysterious man. Nobody really knew very much about him. Everyone knew that he was wealthy, but, from where his wealth derived was not known.
1010 Exchange Essay Research Paper The competition
10-10 Exchange Essay, Research Paper The competition for your long distance phone-calling dollar is fierce and getting fiercer. A relatively recent innovation is 10-10 numbers. Long distance telephone providers are heavy into TV and direct mail advertising. If you pick and choose which 10-10 service you use, keeping in mind when and where you call, you can reap some savings, particularly with in-state daytime calls.
Shane Essay Research Paper Sometimes I need
Shane Essay, Research Paper Sometimes, I need you more than I need air And sometimes I miss you more than I will forever, never forget the times that we have shaared. The are priceless
Poem Belong Essay Research Paper Where I
Poem: Belong Essay, Research Paper Where I belong I am weak, I am strong I will fit where I belong don’t know where it is for now but it will come, if I allow tomorrow, I start a brand new day
The Importance Of Budgeting And Long Range
Financial Goals Essay, Research Paper The Importance of Budgeting and Long Range Financial Goals Me, being a financial independent have experienced first hand how important it is to keep a financial plan. Using a financial plan I have elevated my savings abilities a long way. Knowing where each dollar is being spent helps the spender to manage each dollar in an uplifting way.
Ethics Risk Taking Essay Research Paper The
Ethics Risk Taking Essay, Research Paper The paper is about risk taking and self-command. It was written for a philosophy class in ethics. The title of the paper is “Risk Taking”. It recieved 95 points out of a
Him Essay Research Paper I think about
Him Essay, Research Paper I think about him day and night The though won’t go away And, oh, how I would hold him tight every second of the day He is perfect, that is true, not an average me or you
Rrsps Essay Research Paper First Main Topic
Rrsps Essay, Research Paper First Main Topic: What are RRSP’s In simple terms, an RRSP is a tax-deferral plan registered with Revenue Canada. With an RRSP, you can deposit a portion of earned income and claim the contribution as a tax deduction. Not only are the contributions made to an RRSP tax deductible (subject to limitations), but the income generated by the investments inside an RRSP is not taxed untill withdrawn from the plan.
Poem She Sat Essay Research Paper She
Poem: She Sat Essay, Research Paper She sat… helpless in her room praying to whatever god there may be to let her call to him. could god ignore such a painful cry?
401K Essay Research Paper 401K the retirement
401K Essay, Research Paper 401K, the retirement savings plan turned 20 this month. It has become the centerpiece retirement vehicle for millions of employees since it was kicked off on January 1, 1981.
Ode To Boys Essay Research Paper We
Ode To Boys Essay, Research Paper We like them But do they like us The ones we do never fuss They don’t stop in And we wonder why We stress, we bitch We sometimes cry
Joke Essay Research Paper Pretty funny You
Joke Essay, Research Paper Pretty funny!!!! You could die laughing…… A little old lady went into the Bank of Canada one day, carrying a bag of money. She insisted that she must speak with the president of the bank to open a savings account because, “It’s a lot of money!”
Maturity Essay Research Paper Are You MatureThere
Maturity Essay, Research Paper Are You Mature? There are many ways a person becomes mature throughout his lifetime. There are also many different levels of maturity people go through. Mature people know how to make correct and careful decisions and judgments. They also act correctly in special situations.
Great Depression Essay Research Paper Great Depression
Great Depression Essay, Research Paper Great Depression began in the early 1930’s, and lasted about a decade. The main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920’s and extensive stock market speculation that took place during the later part that same decade.
Dare Essay Essay Research Paper What DARE
Dare Essay Essay, Research Paper What D.A.R.E Means To Me Dare has prepared me to say no to drugs in eight different ways. If anyone asks me to do drugs I will know what to do, such as- just ignoring the person or just
Sling Blade Essay Research Paper How did
Sling Blade Essay, Research Paper How did Carl relate to: 1. Linda: Carl acted respectfully toward Linda. He was generous. When he left he dropped off his savings, and fixed the washing machine. He told Linda how she was a good mother and how Frank’s eyes light up when he is around her. He told Linda how much he appreciates her attitude towards him, making him biscuits at night and providing him with a place to stay.
Web Site Development Essay Research Paper I
Web Site Development Essay, Research Paper I propose to develop a web site for anyone in the sunglass, contact lens, colored contact lens or laser vision correction market. The most important
Accounting In General Essay Research Paper Accounting
Accounting In General Essay, Research Paper Accounting In General Gone is the old stereotype of an accountant with eyeshade and bifocals, sitting hunched back with a pencil in hand over pages of tiny figures. Accountants today come equipped with calculators, computers, sophisticated management techniques, and more often than not, advanced degrees.