So Mike/Readers, if I may ask: What tricks do you use to make sure you’re properly stocked/organized/under control and avoid overspending dumb money because you’re not prepared. — S.M.M.
I just noticed that the credit available on my three credit cards has been drastically reduced. For example, I used to have a $5,000 limit on one, and now it’s down to $1,800. It’s not a problem, since I am determined not to use these cards Ever Again, but it seems counterintuitive.
Hi, Money-Challenged Person. I am starving soon-to-be college student who really wants day-to-day financial independence. My parents are footing the bill as far as college goes, but I’d love to be able to do us all a favor and try to be smart with my money startiiiiiing NOW. HELP.
1. The short answer to this question is, do everything I did, except the exact opposite of that.
I work at a job that I really really like. One of the few downsides is that there is no such thing as a 401(k) and I know there won’t be ever. So as a 30-year-old, I have a Roth IRA set up for retirement. And all the articles say “Contribute to your 401(k)!” but what if that is not an option? Should I have a traditional IRA as well? Should I invest in a jar to stuff my money into? — K.K.
When I was a young, bright-eyed graduate student intent on reporting from a news bureau in Europe or Asia or The Middle East, I signed up for the program as a mentee, and was paired with a foreign correspondent who worked and lived in Italy.
So, my question is: How much do people usually keep in savings? My husband and I are both in our late 20′s, and have lived in NYC for years. We’ve always assumed most people here—especially renters—don’t usually have substantial savings accounts (or worse, are paycheck-to-paycheck). Are we wrong? Or is our once-considered landlord being unfair? — J.M.
Here’s the thing about salary requirements: Some people require more money than other people, and that’s why this is a common question that’s asked by employers.