From the category archives:

Personal Savings

Stocks 101 – Exactly What is a Stock?

January 20, 2010

Before I get into the intricacies of stocks, bonds, and mutual funds, I wanted to explain exactly what a stock is. When companies need to raise money, they have several options.  One option is to “go public” which means they offer shares in the company in exchange for partial ownership.  The shares are sold in [...]

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UTMAs? Should I Open One For My Child?

January 13, 2010

Yesterday, I talked about 529s.  But what’s a UTMA, and what’s the difference? Well, today, let’s start with a UTMA.  A UTMA account is a Uniform Transfers to Minors Act account.  Uniform Laws can vary by state, so keep this in mind – the info I’m providing here is just a generalization (and if you [...]

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College Savings… 529 101

January 12, 2010

You may have noticed that many financial accounts are named seemingly arbitrary names, like 529, 401k, 403b.  Those names generally come from the part of the tax code that created them, but it’s awfully confusing for most people. If you have children, or are even thinking of having kids, it’s important that you understand 529s [...]

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Compounding Interest: Your Ally in Savings

January 6, 2010

You’ve probably heard that it is best to start saving for retirement and college early, because it’s difficult to catch up later, even if you invest the same amount of money.  And why is that?  It’s because of compounding interest, which is definitely your ally in savings (tomorrow, I’ll write about how compounding interest is [...]

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Your Motivation for Savings

April 7, 2009

When I was in college, I often got quite a few confused looks about my double major – economics and psychology.  While that combination isn’t too common, I always felt they were related.  I think it’s important to understand your underlying motivation for whatever financial goals and habits you have, before you make any changes. [...]

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The Hierarchy of Savings

March 24, 2009

It’s difficult, in this economy, to talk about savings.  However, saving money is still essential, for all families.  Here are some of the common areas of savings, in my order of importance. Emergency Fund: if you don’t have an emergency fund, stop right away, and put a plan together (this post can help).  An emergency [...]

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