Posts for September 2007→

We all need to know the three “ing’s” of managing money – spending, saving and investing. The first two – spending and saving – are easy to track. Looking up your credit card statements from time to time will give an idea where most of your paycheck is going. And because what is not spent is saved, these statements will also tell you where some of your paycheck should not be going.
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“I did not know enough to be scared”

69-year old Earl Crawley, while making $20,000 a year as a parking-lot attendant, still amassed over $500,000 in investment asset. His secret? Two, in fact. The first is his good old habit of saving every “nickel and dime”, and the second is his lack of investing knowledge, summed up in his quote that I borrowed above.
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Consumer Reports magazine recently suggested that driving the same car for at least 15 years can save you almost $31,000. That is a nice little sum to boost your retirement savings, or send your kid to a better college. The key points to note are:
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I generally avoid reading predictions of the government’s move every time the market hits a rough patch, as is happening now. Guessing the mind of Fed chief Ben Bernanke – if he will cut the interest rate again to soothe investor sentiment – has become as much a suspense as predicting the stock market.
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