Summary of “5 Money-Saving Tricks That Actually Work”

Most of us would like to save more money – in order to build a bigger nest egg for retirement or be able to pay for upcoming college expenses or just for a fancy vacation.
If you’d like to save more money but need some ideas on how to do so effectively, read on.
You can probably save a good deal of money by applying a little more psychology in your financial life.
A tried-and-true way to save more money, as long as you stick with it, is saving small sums here and there for a long time.
Another super powerful way to save money is to quit smoking.
There are lots of ways you can save money incrementally.
This trick for saving more money surprises many people because it’s so easy: Make some phone calls.
Here’s one last trick: If there are some costly habits you just don’t want to break, such as that morning latte or packs of cigarettes or ordering more than one drink when you’re out, turn them into habits that both cost and save money – by matching the spending with saving.

The orginal article.

Summary of “The steps you need to take to move to Spain for a work-free year”

If you have the dream to take a year off – a gap year! – you may find yourself asking an important question.
Why Barcelona? Well, the weather: Barcelona has an average of 310 sunny days a year.
You’ll need to build up a comfy nest egg to finance your year.
A lot of us don’t need to maintain our current income level – because we’d be happy to live a different lifestyle or move to a cheaper place or because we don’t want to wait forever to save that kind of money.
” Basically, you find someone in Barcelona who wants to move to New York for a year, and swap apartments with them.
“Do people go out all the time? Yeah. Do people like to take little weekend trips and create long weekends by linking a national holiday to a Friday? Yes. People here, especially expats, like to live well.” And this is all possible because when it comes to food and drink, Barcelona is still mercifully cheap.
Another good thing about living in Barcelona? Public transport will get you anywhere you need to go.
Another viable option is to enter Spain with a student visa, which is what Yamet did when he completed courses at the Universitat de Barcelona.

The orginal article.

Summary of “Boost Your Retirement Fund With These Minor Lifestyle Changes”

Taking care of your health is an important part of your financial well-being-but you don’t need to make drastic changes to reap the benefits.
Turns out, simply following your doctor’s orders more closely could lead to a healthier retirement fund.
According to data recently analyzed by HealthyCapital, a 45-year-old man with a chronic condition like high blood pressure “Can save an average of $3,285 annually over his lifetime” by making adjustments like taking his medications as prescribed and cutting back on his sodium intake.
“To put this into perspective, if this person invested the annual savings into a typical retirement portfolio, he could generate an additional $100,348 for retirement by age 65,” the report finds.
A 45 year-old-man with diabetes who makes minor changes will save an estimated $2,788 a year in health care costs before retirement, totaling $86,117 if invested.
While the report uses a 45-year-old as the case study, it’s never too late to start taking better care of your health.
The report notes that “50 percent of Americans diagnosed with a chronic condition do not take their prescribed medication after six months,” which is especially true for people with high blood pressure because they may not physically notice results from taking their medication.
It may seem like common sense, but it drives home an important point: You have some control over your habits and your health, and simple changes can dramatically increase your standard of living.

The orginal article.

Summary of “18 useful financial rules of thumb ~ Get Rich Slowly”

After twelve years of reading and writing about money, I’ve come to love financial rules of thumb.
Financial rules of thumb provide helpful shortcuts for making quick calculations and decisions.
Financial rules of thumb don’t always hold true.
In the past, you’ve probably seen my rant about some of my most-hated financial rules of thumb.
How much should you spend on a house?As I mentioned last week, another rule of thumb that makes me cranky is this common guideline espoused by all sectors of the homebuying industry: “Buy as much home as you can afford.” No no no no no! Of all financial rules of thumb, this is probably the worst.
Financial rules of thumb usually aren’t this bad. In fact, most are useful.
Building on the above, Mr. Money Mustache’s shockingly simple math behind early retirement gives us a useful rule of thumb for determining how long you’ll need to save before you’re financially independent.
What rules of thumb did I miss? Do you disagree with any of those I suggested? What are some of your favorite rules of thumb?

The orginal article.

Summary of “Seven thought experiments to make you question everything”

Thought experiments are among the most important tools in the intellectual toolbox.
Widely used in many disciplines, thought experiments allow for complex situations to be explored, questions to be raised, and complex ideas to be placed in an understandable context.
Here we have seven thought experiments in philosophy you might not have heard of.
Question: How can it choose? Does it choose at all, or does it stand still until it starves?
Question: If you are obligated to save the life of a child in need, is there a fundamental difference between saving a child in front of you and one on the other side of the world?
Question: Is the Swampman the same person as the disintegrated fellow?Davidson said no.
Question: Are you obligated to keep the musician alive, or do you cut him loose and let him die because you want to?
Thompson, who has several excellent thought experiments to her name, says no.

The orginal article.

Summary of “The Most Motivating Financial Chart I’ve Ever Seen”

The grid shows that each of them would only need to work 16.6 years to fund their retirement at their current spending levels.
Someone taking home $100,000 a year after taxes would have to keep working almost 66 years if they spent most of that money each year.
If he’s able to increase his take-home pay by $10,000, whether through a promotion at work or a side hustle, and he keeps his spending at the same $40,000 a year, he can shave more than 11 years off his work career.
Another interesting aspect of the grid is that it doesn’t crunch numbers for those who spend below $20,000 per year.
Think about how many years you could knock off your working life if you only spent $15,000 per year? Or $10,000?
Jacob Lund Fisker, author of the popular blog and book “Early Retirement Extreme,” famously lives on $7,000 per year.
Considering the average person works for over 40 years, getting that number down to 28 is no small feat! That represents 12 extra years of your life where you get to do what you want, when you want, on your own terms.
You can cut chunks of years off your working career with relatively small spending reductions, which is amazing to behold.

The orginal article.

Summary of “A Retirement-Savings Crisis Is Making Never-Ending Work”

“I’m a working woman again,” she told me, in the common room of the senior apartment complex where she now lives, here in California’s Inland Empire.
Gordon has worked dozens of odd jobs throughout her life-as a house cleaner, a home health aide, a telemarketer, a librarian, a fundraiser-but at many times in her life, she didn’t have a steady job that paid into Social Security.
Many people reaching retirement age don’t have the pensions that lots of workers in previous generations did, and often have not put enough money into their 401(k)s to live off of; the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000, according to the National Institute on Retirement Security, a nonprofit.
“In the early decades of our work, we were serving communities that had been poor when they were younger,” Prindiville told me.
If today’s seniors are struggling with retirement savings, what will become of the people of working age today, many of whom hold unsteady jobs and have patchwork incomes that leave little room for retirement savings? The current wave of senior poverty could just be the beginning.
In 1979, 28 percent of private-sector workers had participated in defined-benefit retirement plans-by 2014, just 2 percent did, according to the Employee Benefit Research Institute, a nonprofit.
At least Belleau and others are physically able to work.
She’s still working at 76, but she feels a little more secure now that she has more help.

The orginal article.

Summary of “Can you really save for a deposit by ditching coffee and avocado toast? I tried to find out​”

I find the argument that I could afford a house simply by going without luxuries for a few years hard to swallow when the average deposit for first-time buyers is £32,899.
On one point he is firm, however: while it is possible to be approved for a mortgage with a deposit of only 5%, to be able to truly afford a property I need at least 10%, ideally 20%. “But that’s a very difficult amount to save when you’re already paying rent,” he says.
He wants me to understand “Opportunity cost”: the long-term loss that results from spending your money on option A rather than option B – in my case, spending £4.50 on lunch, rather than my future first-home deposit.
“But if you spend 625 quid a year on coffee and then say: ‘I can’t save up for a deposit on a house,’ you’re starting to lose a bit of the moral argument.”
“The second thing,” he says, “Is that this is not the spending diary of someone who is looking to save money.” To be fair, he adds, I had said as much when we first spoke.
Scanning my spending diary, he says it would be “Very possible” for me to save from £400 to as much as £700 of my disposable income each month by cutting back on coffees, lunches out, rounds at the pub and holidays.
Saving between £4,800 and £8,400 each year – hopefully more, if my salary increases in the future or I find someone to go halves on a house with – I could reach a 10% deposit of £35,000 in between four and eight years, says Lewis.
“I think the classic problem with you,” says Lewis, not unkindly, “Is that you talk about efforts to save money, but I don’t think you’re persuaded in your head of the reason for doing it. If you want to do this, you need to make that decision in your head and start to live your life – as the focused, ambitious person that you are – with one of your ambitions being to save a deposit for a house, so that you actually get a kick out of the fact: ‘I’ve brought in sandwiches to work for two months. I’ve got this much extra money. Boom!’ You need that mentality and you don’t have it.”

The orginal article.

Summary of “Saving receipts can mean big money in 2018”

My New Year’s resolution? Save every receipt in 2018.That means receipts from every gas-station fill-up, grocery run and restaurant meal.
For years, I’ve been earning cash back on my everyday purchases by submitting receipts through smartphone cashback apps such as Ibotta, SavingStar and Checkout 51.It’s easy to make money back on your groceries if you’re willing to put in a little time.
Class action lawsuitsSaving the receipts should come in handy to earn money with future class action lawsuit settlements, which can add hundreds to thousands of dollars to your savings.
If you submit eligible receipts for a class action lawsuit related to a Burger King coupon snafu on Croissan’wich breakfast sandwiches, you’ll get a much bigger settlement than submitting a claim without proof of purchase.
That’s a huge difference but I doubt many people saved those receipts, which need to be submitted by the Jan. 19 deadline at www.
Scott Hardy, founder and CEO of Top Class Actions website, said the majority of people don’t attach receipts.
South Carolina residents have a new reason to save receipts for gas fill-ups and car maintenance.
Some store rewards programs also save copies of your receipts.

The orginal article.