Here Come The Bills I had minor surgery done back in June, and the bills for the procedure came in the mail a couple weeks ago. I got one bill from the surgeon, another from the anesthesiology team, and yet another from the hospital that owns the surgery center. After reviewing the Explanation of Benefits (check out my post on how to read and EOB here) to make sure the charges were accurate, I was ready to pay the bills. But…
I’m getting a raise! This year, my city council voted to give every city employee a 2.5% raise, effective July 1. They also adopted an education incentive program for our public safety employees. Every police officer and firefighter with a college degree (associate to doctorate) will get a bump in pay, based on the level of degree they have and their salary. My bachelor’s degree will get me an extra 3% of my salary on every paycheck. (Yes, I know…
If you knew of a way to have $125,000 more saved in your retirement accounts when you retire, would you be interested? It’s legal and doesn’t require any hard work. You can do it, simply by paying attention to fees. By owning funds with low fees, you keep more of your money in your account and out of the pockets of a fund company. The best way to know what you are paying to own a fund is by looking at the expense ratio. The Expense Ratio…
Spending Too Much On Food At Work? Between training, calls, meetings, and all the other things you have to do during the day, meal planning and food prep can be hard. Even with the best of intentions, plans tend to go out the window when the tones go off. It then becomes all too easy to grab a quick bite from a restaurant. The Restaurant Trap The problem with restaurants is that you usually can’t get a good meal for less…
Spending less than you earn is a sign that you might be in control of your finances. But unless you make a ton of money, you can’t afford to buy everything you want and still have enough left to save for retirement/medical bills/kid’s college, etc. How do you balance the two? Frugality. By carefully spending your money, and avoiding spending it when you don’t need to, you can you can cut your expenses and increase your savings. My goal is to…
Who, me? No one likes to admit they’re making (or have made) a mistake. Sometimes, you don’t even know you’re making one. Ever heard the phrase “You don’t know what you don’t know?” This applies to all aspects of life, including retirement savings. It might take someone pointing out your mistake for you to realize you’re making it. I wish someone had pointed out mistakes I had made with my retirement savings long before I realized them for myself. Below are…
The other day, a fellow firefighter told me he’d like to sit down with me and talk about money, and specifically, retirement. I agreed and told him to start thinking about where he’d like to begin. He said, “I’d rather focus on where I want to end up – I don’t want to have to work in retirement.” He had clearly outlined a major retirement goal for himself, and in doing so, identified a specific need. He’ll have to have enough…
Why Do You Need An Emergency Fund? An unexpected expense can pop up at any moment. Are you prepared to pay for a blown head gasket, surgery for your dog, or replacing your refrigerator? What about a more serious issue like being evicted from your home, losing your job, or having a medical emergency? Having an emergency fund will help prepare you for such an event. According to research done by the Pew Charitable Trusts, almost 60% of people are…