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In This Section
Matsos bottling a dressing that’s selling in 25 states
Economic survey: Job losses to bottom out in first quarter
Ohio gas prices up 12 cents from last week
SCORE offers wide variety of workshops
After 30 years at the helm of Akron Children's, Considine still looks to future
New version of Mozilla Thunderbird landing soon
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Akron man killed in crash on his street
Can DNA tests free ex-Akron captain?
Browns find another way to lose
Dad accused of forcing son into field, killing him
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Sunday Notebook
Patrick McManamon:
Browns sick after sick loss in Detroit
Akron Zips:
Zips advance to Sweet Sixteen
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Post-game defensive quotes
Kent State Sports:
Kent State defeats Rochester College, 63-44
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
The Sunday Sanity Challenge
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (70) Savings in Medicare Advantage
See Jane Style:
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Faye Dunaway to be Evicted?
Ohio Travels with Betty:
Monique asks how to get tickets for the Polar Express.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Personal Rant – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Sunday, Jul 06, 2008
• Make it automatic.
What you don't see, you won't miss. Have some money automatically taken out of your paycheck and sent to a savings account.
Or ask your bank or credit union to automatically transfer funds from your checking to savings account monthly.
• Make it hard to raid your emergency fund.
Stuart Vyse, author of Going Broke: Why Americans Can't Hold onto Their Money, suggests setting up a separate account at a bank or credit union that is not convenient. Also, don't get an ATM card attached to the account. That way, you'll be less likely to grab money out of the account and it will be there for true emergencies.
• If you received the federal government's economic stimulus rebate check and haven't spent it yet, take some of it and store it away for an emergency fund.
Also, if you receive the Earned Income Tax Credit, use a portion of the money to begin to increase savings.
• Collect your loose change.
The average household has $90 in loose change. Start saving the loose change in a jar.
• Use the benefits of compound interest.
Let the ''miracle'' of interest compounding benefit you. By saving $100 a month with a 3 percent yield on a certificate of deposit, your money can grow to $1,216.63 in one year, $6,464.67 in five years, $13,974.14 in 10 years and $44,608.78 in 25 years.
• Cut spending painlessly.
After you complete a budget or spending plan and figure out where your ''leaks'' are, put that money in a savings account.
• When you get a raise, save it and continue to live on what you made before.
Save any overtime pay or bonuses.
• If you eliminate an expense, save it.
For example, if you quit smoking, save what you would have spent on cigarettes.
• Sell some of your unwanted items at a garage sale or local consignment shop.
Turn things you or your kids have outgrown into cash. Then save that cash.
Sources: America Saves
Consumer Credit Counseling Service
Beacon Journal research
• Make it automatic.
Get the full article here.
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