money matters, budget, home, lifestyle
SOURCE: FOOL.com
How to Stretch a Buck
By Dayana Yochim (TMF School)
September 13, 2004
With interest rates on the rise and inflation threatening the price of a Big Gulp, a dollar just doesn't seem like, well, a dollar anymore. No need to look for part-time work or switch to generic soda pop. Here are some painless ways to make the money you already have go further.
Find your loose change: Review your current investments, including your work retirement plan, IRAs, and that change jar sitting on top of the dresser.
Start a scorecard: Note interest rates you're earning on your savings. If you own stocks or mutual funds, how do they stack up against the plain old vanilla S&P 500 index mutual fund? Lastly, what are you paying to park your cash? Scrutinize any fees you pay (to your bank, brokerage, fund family). Your goal is to keep all fees below 2% of the value of your holdings.
Don't let your cash crash: Is your savings languishing in an account earning a pittance in interest? If you know you're not going to touch the money for the next...
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