More Money, More Opportunities
The author suggests creating a “money map” instead of a restrictive budget to understand where your money is going. This involves listing all income and expenses, identifying potential resources or adjustments, and then automating savings and debt repayment by allocating funds into different “buckets” upon receiving income—a strategy known as “reverse budgeting” or “paying yourself first.”
A reader’s high-interest savings account rate dropped after switching to a money market account at their credit union. The advice suggests checking if a minimum balance is required to earn a higher rate on the MMA, or exploring the possibility of splitting funds between the MMA (for any required minimum) and a high-yield savings account. The reader should also inquire about the reason for the MMA requirement and whether it’s necessary to maintain it alongside their CD.
Ten class action lawsuit settlements are currently accepting claims through August 2024, addressing various consumer issues. These include refunds for overpaid UnitedHealthcare student insurance premiums, compensation for Californians affected by 1-800-PACK-RAT call recordings, and Costco customers impacted by misleading “flushable” wipes. Other settlements address concerns related to defective Philips CPAP machines, data breaches at Atlantic General and Newcourse Communications, the East Palestine train derailment, Bleacher Report’s data sharing
Many teachers spend hundreds of dollars annually on classroom supplies, but numerous retailers offer discounts to ease this burden. These discounts range from software and tech products (Adobe, Microsoft, Dell, Lenovo) to clothing (Adidas, Aerosoles, J.Crew) and even travel and food delivery services. Verification often occurs through programs like ID.me or by providing a teacher ID or pay stub. Organizations like the National Education Association also provide cash-back discounts. Beyond listed discounts, teachers are encouraged to inquire about
Starting a new job significantly impacts your finances, and it’s crucial to make smart money moves. Key steps include rolling over your old 401(k), carefully evaluating health insurance plans (considering premiums, deductibles, and potential HSAs), and exploring all employee benefits like tuition reimbursement or childcare vouchers. Avoid “lifestyle inflation” by directing a portion of your increased salary into savings, and finally, readjust your budget to reflect any changes in income and expenses related to the new role.
