Saving Tips News

personal-finance2 years ago•3 min saved

"Daily $20 Savings Strategy: The Path to a $1 Million Retirement Fund"

Retirement expert Anne Lester emphasizes the importance of starting to save for retirement early, even if it's a small amount like $20 a day. By saving $100 a week from age 25 with a 7% annual return, one could accumulate over $1 million by age 65. Starting later, at age 30 or 35, significantly reduces the potential savings due to the power of compound interest. Lester advises against waiting for a perfect saving plan and suggests taking small, manageable steps towards the retirement goal, highlighting that even small contributions can grow substantially over time.

via CNBC|

#compound-interest #financial-planning #investment-strategy

personal-finance2 years ago•4 min saved

"UAW Strike Threatens to Increase Average Monthly Car Payments"

With interest rates for new vehicle financing on the rise, experts recommend setting a budget and using auto loan calculators to estimate monthly payments. It is advised to get pre-approved for an auto loan from a bank or credit union before visiting a dealership, as they often offer higher interest rates. Additionally, expanding the search to dealerships a few hours away can lead to better inventory and deals, and obtaining quotes from multiple dealerships can aid in negotiation.

via WTAE Pittsburgh|

#auto-loans #car-shopping #dealerships

personal-finance2 years ago•4 min saved

"UAW Strike Threatens to Increase Average Monthly Car Payments"

With interest rates for new vehicle financing on the rise, experts recommend setting a budget and using auto loan calculators to estimate monthly payments. It is advised to get pre-approved for an auto loan from a bank or credit union before visiting a dealership, as they often offer higher interest rates. Additionally, expanding the search to dealerships a few hours away can lead to better inventory and deals, and obtaining quotes from multiple dealerships can aid in negotiation.

via KCRA Sacramento|

#auto-loans #car-shopping #dealerships

personal-finance2 years ago•4 min saved

"UAW Strike Threatens to Increase Car Prices and Monthly Payments for Consumers"

With interest rates for new vehicle financing on the rise, experts recommend setting a budget and using auto loan calculators to estimate monthly payments. It is advised to get pre-approved for an auto loan from a bank or credit union before visiting a dealership, as they often offer higher interest rates. Additionally, expanding the search to dealerships a few hours away can lead to better inventory and deals, and obtaining quotes from multiple dealerships can aid in negotiation.

via WMUR Manchester|

#auto-loans #car-shopping #dealerships

personal-finance2 years ago•4 min saved

"From Cash Stuffing to Debt Freedom: One Woman's Entrepreneurial Journey"

Jasmine Taylor, a Texas woman, used a budgeting system called cash stuffing to pay off nearly $80,000 in debt. She put cash for different spending categories into envelopes, which helped her stick to her budget. Taylor shared her experiences on social media and started her own business, Baddies & Budgets, selling glittery binders with cash envelopes and wallets for everyday expenses. She used her stimulus check to kickstart her business and now runs it full-time. Taylor advises tracking expenses and creating sinking funds for heavy or burdensome expenses to save money in the long run.

via USA TODAY|

#budgeting #cash-stuffing #debt-reduction