Tagged With: savings

Where do you put short-term savings?

I was asked this question recently: “I have about $10,000 that I don’t need to touch for a while, and I was thinking of investing it so I could make the most of it. Where do you recommend I put it?” This is a great question, because it has a lot of nuance, so it’s … Continue reading »

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How to pay for non-emergencies

We know what an emergency is. It’s an incident that is both unexpected, urgent, and unavoidable (and unfortunate). When you have an emergency, you use money from your emergency fund. (And if you have debt, here’s how you can still have an emergency fund.) When you have situation that’s not an emergency, you don’t touch … Continue reading »

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Does savings count as a bill or an expense?

I talk a lot about making plans for spending money, because you want to spend your money intentionally and not just let it happen. Moreover, the objective is not to spend as little as possible, but just the right amount to achieve your goals. (People forget this part, thinking that spending less is intrinsically a … Continue reading »

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When your life changes, change your emergency fund

  An emergency fund is a vital tool, not just in your financial situation, but also for your sense of emotional grounding. But no kidding. I like to joke that a fully-funded emergency fund is like anti-anxiety medication, but without any side effects. And what do I mean by “fully-funded”? I mean six months equivalent … Continue reading »

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Can everything you need to know about personal finance fit on an index card?

  Two years ago, there was an article about someone who wrote down all of the important personal financial advice onto an index card. The theory being that everything important that you needed to know was simple, and that all the other advice that people tried to give you was just noise or a sales pitch. … Continue reading »

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How to plan for yearly bills

  Recently, I had a number of large bills come due at the same time. My web hosting service (that contains this site) came due, and I always renew for as long a time as possible (to get the best rate). This turned out to be an ouch-inducing $250. I also use a Post Office … Continue reading »

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Separate your savings

  I once went to an ATM in a tourist area (Pearl Harbor to be specific). Finding an old receipt in the receipt slot, I removed it, buy being the nosy person that I am, I looked at it before throwing it away. It was a withdrawal for a few hundred dollars, not unreasonable. But … Continue reading »

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Why using sinking funds is a revolutionary act

  A sinking fund, as I talked about before, is a way of saving up for large expenses in advance. It’s a kind of a quaint, old-timey way of doing things, which might be why it appeals to me. A sinking fund is way simpler than it even sounds, and it sounds pretty obvious to … Continue reading »

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Rise up with a sinking fund

  I found out that my car needed some work recently. My mechanic quoted me a figure that initially made me stagger a bit. I don’t know why I was surprised, as anything having to do with a car that’s not an oil change always costs hundreds of dollars. But after an initial shock, I … Continue reading »

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Fool yourself into savings

  I’ve been preparing for my latest adventure recently. And while this involves things like digging out my passport, buying travel guides, and maybe booking some lodging (I always wait until the last minute on this), one of the more pleasing parts of this planning process is digging out my change jar. My change jar … Continue reading »

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