Saving

MONEY 911

A Safety Net

A good chunk of this morning’s Money 911 on Today was devoted to emergency funds, and how important it is to have one that covers at least six month’s worth of living expenses.  That may sound high to you – in the past I’ve advised three to six months – but in an economy like this, you can never be too sure.  Watch the video below for more:

THE DIFFERENCE

Pay Yourself First

I joined Carmen Wong Ulrich on her CNBC show On The Money last night to talk about The Difference. She focused on the power of saving, as do most of the wealthy and financially comfortable people I surveyed for the book: 55% of the wealthy said that saving was one of the big factors in getting them there.

MONEY 911

Planning for a Rainy Day

Where should I be putting my money now? That seemed to be the theme of this week’s Money 911. Personally, I see it as a great sign: Clearly, people are beginning to think about saving when they come into a little extra money, rather than spending. That’s the kind of attitude we need right now.

Here’s the clip, in case you missed it:

THE DIFFERENCE

Learning To Savor

Recently, my 11-year-old daughter came home from Health class with a pocketful of Hershey’s Kisses and a new strategy for eating them.  If you just put one in your mouth and let it melt, it will last longer, you’ll enjoy it more and you won’t need to eat as many, she told me.

Of course, she’s right. But not, as it turns out, just about chocolate.  The Mind column by Benedict Carey in yesterday’s Science Times takes the position that stretching out almost any enjoyable experience seems to make it, well, more enjoyable.  He didn’t go for what would seem to be the easy example (sex, see Tantra), he went with one that wouldn’t seem to be enjoyable at all: television commercials.  More…