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A Time to Splurge, and a Time to Pinch Pennies

A Time to Splurge, and a Time to Pinch Pennies | What's Going on in the World | Scoop.it
People make their own choices on what they are willing to spend extra for. The important thing is having good reasons for these choices.
Rakiya Smith's insight:

In today’s society, it seems as if everyone is trying to “Keeping up with the Jones.” It is nice to have all the latest fashion and technology. There is nothing wrong with having those little luxuries. The problem begins to occur when you spend your whole paycheck on an object with nothing to in the bank. This a serious cause on why most young Americans are going into debit. They will watch “Basketball Wives” see the shoes they wear. Then google “Christian Louboutins” research the starting point which is $650. Take their $720 paycheck, and purchase the shoes. It’s quite obvious they cannot afford those shoes. Why spend on something that is not a priority? This article posted by New York Times is geared to help you spend money more frugally.

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Sign In > myCI > CSU Channel Islands

California State University Channel Islands is Ventura County's first public, four-year university.
Rakiya Smith's insight:

The 401k system is not just appealing to the United States. Even Australia has created a similiar system. They look at our system to enhance their systems flaws. We demonstrate the use of innovation with investment risks. Australia has substantial investment strategies with contribution. It is extremely intersting that two countries examine each others systems to improve their own.

 

Resources: Benefits Quarterly and Proquest Database Research

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Sign In > myCI > CSU Channel Islands

California State University Channel Islands is Ventura County's first public, four-year university.
Rakiya Smith's insight:

Heres a newspaper article from Austin American Statesman with incredible reasons to save now. I was also told by a successful doctor, "If you start saving 100 dollars a month at the age of 25 with 12% growth you will be a millionaire at the age of 65!" Retirement may seem a bit far fetch, but time flys by.

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Sign In > myCI > CSU Channel Islands

California State University Channel Islands is Ventura County's first public, four-year university.
Rakiya Smith's insight:

Do you want to a beneficial tax break? Why not, start your 401k account! 401k account is a plan that saves for your retirement! Your company also gives addition funds on what you put in to save. The money in your 401k account is taken out before your paycheck. Therefore, your check is less than what you made. The outcome has a reduced tax bill with more money.

Resorce: Proquest

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