Submitted by Martha Post on Thu, 03/06/2014 - 3:00pm
The general concept of dollar cost averaging (DCA), a systematic and gradual method investing, seems like a sound approach. The standard advice is that this is the way to commit your money. Well, not always.
Specifics vary, but DCA involves investing a fixed dollar amount at regular intervals over a specified period, as opposed to lump-sum investing (LSI) – that is, investing all at once.
Submitted by Adam D. Koos on Fri, 02/28/2014 - 12:00pm
Holding cash these days means watching taxes and inflation chew its value away. But you need some cash on hand for emergencies. How much, and how do you allocate it to get the best return in a time of extremely low rates?
Low interest rates were not a problem back in the 1980s, when they were sky-high. Back then, you could get certificates of deposit paying a double-digit interest rate. Today? Good luck finding a single-digit on the left side of the decimal point reading anywhere north of the number “1.”
Submitted by Mary Beth Storjohann on Tue, 02/25/2014 - 3:00pm
Your big jump into matrimony means you now must answer big questions about your money and financial life together.
Whether you’re engaged, newly married or a few years into a blissful marital life together, below are seven money decisions you and your partner need to make to set yourselves up for financial success.
Submitted by Manisha Thakor on Tue, 02/18/2014 - 3:00pm
If mention of your 2014 financial resolutions now makes you cringe, you’re not alone. Here’s how to get back on track, akin to improving your physical health.
It’s still plenty early for you to turn your good financial intentions into actionable steps and repeatable systems. All behavior change – weight loss, positive attitudes, money management, among others – involves creating new, healthier thinking step-by-step.
Submitted by Jim Blankenship on Thu, 02/13/2014 - 12:00pm
There’s more to setting a goal than making a statement about it. You must make a plan and apply specifics. If you resolved to lose weight, for example, first put specifics around that goal such as, “I want to lose 15 pounds in 2014.”
Will it happen all at once? One fine day you wake up 15 pounds lighter? Of course not.
That presto mentality often derails us. We dive into our goal with gusto, hitting the gym four straight days for the first week. When we see no automatic and quick result, we fall back into our old routines and soon give up on the goal.
Submitted by Mary Beth Storjohann on Thu, 01/23/2014 - 12:00pm
Many of us want to reduce spending in the new year. Aside from typical advice such as brown bag your lunch and skip pricey lattes (great advice, by the way), here are some other steps to take to keep more money in 2014.
Cap the price of impulse purchases. Set a limit of $100 or whatever works for your budget; wait 24 hours before deciding to buy anything costing more than that (limited time sale or not).
Submitted by Sterling Raskie on Wed, 01/22/2014 - 12:00pm
If you or your loved one serve in the military and are about to deploy in a dangerous area overseas, know your savings options. They are generous.
The Department of Defense’s savings deposit program (SDP) allows combat-zone service members to allocate fractions of – and in some cases, all – their combat pay to a savings account up to $10,000 per deployment.