Can technology help us create better saving habits? I recently read this article reviewing apps that aim “to make saving as effortless as spending.” While these tech tools can be really useful, it’s important that effortless doesn’t become mindless. How and when should you consider integrating a savings or investing app into your financial world? Here are a few reasons why an app might help your savings efforts.
Questions you should ask any financial advisor
There’s a wide spectrum of professionals who call themselves financial advisors. You need to know how to tell the difference between pure salespeople selling products and advisors committed to providing quality advice and acting in your best interest. Also, if you or a loved one works in public service, don’t miss the New York Times article below highlighting the pitfalls of some 403(b) retirement plans.
The Line Between Effortless and Mindless
I've been thinking about the line between effortless and mindless spending. Technology has allowed a great deal of our spending to become effortless which is a great convenience. However, these conveniences also enable us to spend mindlessly, reducing awareness of and control over where our money is going. The faster our shopping experiences become, the easier it is to blur the line between needs and wants.
Recommended Reading
Friends & Money
In New York it’s impossible to ignore the huge spectrum of wealth and lifestyle choices. You can see this just about anywhere, but it’s amplified in a city: more people, more extremes. The urge to compare, covet, and judge can be quite strong. I think we should all strive to be content with what we have and where we’re at in life, and a good starting point is realizing that when it comes to money, what’s right for you will differ from what’s right for those around you.
5 Tips for Maintaining Your 529 Account
This is the final article of our college savings series. Congrats for making it this far! One day not too far away, your kids are really going to thank you. Let’s recap what we’ve covered in the last month. We’ve talked about 1) whether to save for college, 2) what type of savings account to use and 3) how much to save. This final article will provide quick tips on how to maintain and (one day) withdraw money from your college savings accounts.