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Saving

Your Emergency Fund: What Qualifies as an Emergency?

by Luke Landes

Having an emergency fund, money set in an easily accessible location like a savings account earmarked for certain situations, is one of the first steps to being financially secure. This is common advice, particularly among financial advisers. Ideally, one wouldn’t tap the emergency fund at all. That sacrifices some earning power because even high-yield savings […]

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Twitter Poll: How Much Do You Have in Your Emergency Fund?

by Luke Landes

Earlier today, I asked via Twitter how much everyone has in their emergency fund in relation to their monthly expenses. Here are some of the responses. (I assumed if the message wasn’t sent privately and if the twitter account wasn’t protected that I could re-post the source of the responses.) nodebtplan: 3 months of expenses […]

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The Right Size for Your Emergency Fund

by Luke Landes

One of the most popular pieces of financial advice is the importance of establishing an emergency fund, money that can be accessed to assist with life unexpected problems, like medical emergencies or the loss of a job. Financial advisers like Suze Orman suggest that most people have ready three to six months’ worth of expenses […]

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50 Tips to Help Establish Your Emergency Fund

by Luke Landes

One of the first steps to cleaning up one’s financial situation before embarking on the journey to become financially independent is the establishment of an emergency fund. An emergency fund, in its most basic form, is an accessible savings account where you keep cash for true emergencies, like the loss of a job or a […]

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SmartyPig Smartly Drops $25 Redemption Fee

by Luke Landes

A few weeks ago, I previewed the SmartyPig savings account, an interesting way to collaboratively save money for goals while earning interest on that money. I like the ease of sharing goals with friends and family and allowing them to contribute, but the redemption options were limited. By design, SmartyPig prefers that once you reach […]

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Jonathan Clements Exits: The Essence of Money

by Luke Landes

Jonathan Clements, a columnist for the Wall Street Journal, is leaving journalism. He published his last article on Wednesday, a reflection on fourteen years at the Journal and 26 years writing professionally about money. In the article, he looks at the essence of saving and investing. Why bother? A number of visitors touched on these […]

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Celebrate “America Saves Week” by Increasing Savings and Decreasing Expenses

by Luke Landes

Haven’t you heard? This week is America Saves Week. From February 24 through March 2, a coalition of non-profit, corporate, and government groups are pushing a media campaign to encourage savings in various forms, from increasing money deposited into bank accounts to finding bargains and saving money on purchases. It’s a noble goal. Building wealth […]

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Your Food Pantry: An Essential Part of Your Emergency Fund

by Luke Landes

The most effective emergency fund, for use in the event of a job loss or unexpected major expense, is actually a combination of several types of investments. You should be prepared with a small amount of physical cash to hold you over until you can get money from a bank, highly liquid investments like a […]

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How to Save a Million Dollars at Any Age: 55 Years Old

by Luke Landes

Right now, I’m listening to the album, Raising Sand, by Robert Plant and Alison Krauss, released last year. Robert Plant will be 60 years old in August. I imagine he’s not thinking about retirement and we’ll continue to hear new music from him until he finally keels over. Unless you are one of the few […]

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How to Save a Million Dollars at Any Age: 45 Years Old

by Luke Landes

If you’re 45 years old right now and working, perhaps you’re starting to consider when and how you’d like to retire. Kiplinger’s Personal Finance magazine has some suggestions if retiring with $1 million is art of that game plan. Keep in mind the role inflation plays; $1 million is a good goal, but twenty years […]

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