People who save 20% or more of their incomes do things differently, new research shows
When Matt Kelly and his wife Cheri faced debts of roughly $65,000 in 2005, they decided something must be done. So they cut food costs from about $500 to $300 a month, and pared down entertainment and extras from their budget. But the big thing that tipped the scales in their financial favor: Slashing their housing costs, the Portland, Ore.-residents tell MarketWatch.
One reason super savers may scrimp on housing? “They may see expensive mortgage payments as a liability. Our data shows that they value freedom to do what they want as well as financial security and peace of mind,” explains Dara Luber, senior manager of retirement at TD Ameritrade. Meanwhile, making choices frequently can lead to something called decision fatigue, which research shows can impact our ability to make the “right” choices as the day goes on.
Of course, it’s often easier said than done. Households often pay more for housing so they also get into a good school district or because an area is safer. And, it’s also possible that many of the savers interviewed in the TD Ameritrade study had lower housing costs because they put more down on their home when they bought.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
New Twitter birthday prank will actually lock your account, social network urges 'please don’t do this'“You’ll get locked out for being under 13 years old,' Twitter Support warned after users fell victim to the prank.
Weiterlesen »
We asked financial planners for their favorite high-yield savings account, and almost everyone said the same thingBusiness Insider asked financial planners for their favorite high-yield savings account. Most of them said online-only bank Ally.
Weiterlesen »
Barbara Bush on Trump: 'I don’t understand why people are for him'New biography of former First Lady Barbara Bush details deep, prolonged distrust of Donald Trump, and her bewilderment at his unlikely rise to the White House.
Weiterlesen »
Lindsey Graham says people angry over Trump’s McCain attacks 'don’t really care:' 'You just hate Trump''You’re not offended about me and McCain, you’re trying to use me to get to Trump. I’m not playing that game,” Graham said.
Weiterlesen »
24 Things From Athleta That People Actually Swear ByWorkout gear and stylish pieces that get an A+.
Weiterlesen »
21 Things That Will 100% Happen When You Live With Other PeopleYou will watch three hours of Come Dine With Me together at some point.
Weiterlesen »
7 things people think are terrible for their finances that actually aren'tThere are a lot of personal finance myths out there, and believing them could hinder your ability to build wealth.
Weiterlesen »
20 Times People On The Internet Once Again Knew The PERFECT Thing To Say20 Times People On The Internet Totally, Completely, 100% Nailed The Response
Weiterlesen »