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The Power of $6.58 PDF Print E-mail
One of the reasons people hesitate to begin putting money into a retirement account is because they feel like they can't contribute enough to make a difference.  And yet you read stories of school teachers, librarians and bus drivers who managed to accumulate millions of dollars on small salaries.  How do they do it? 
 
In the article, How to Turn $200 a Month Into $5 Million, Patrick Morris demonstrates how just $6.58 a day can transform into $5 million.
 
The key to is to stop making excuses and just do it!  Call your financial advisor right now and ask them to increase your monthly contributions or call your HR department and ask for the forms you need to start contributing to your 401k. 
 
 
 
Easily Manage Those Annual Expenses PDF Print E-mail
By Melissa Tosetti
 
Over the last few weeks, a common theme that has popped up with clients is how to manage those annual expenses so they don’t negatively impact a single pay period.   
 
Even if you’re a rock star at managing your daily and monthly expenses, taking your pet in for an annual checkup can throw you completely off. 
 
The easiest, and least painful, way I’ve found to manage these expenses is to set aside money for them with each pay period. 
  • Start by listing the expenses that come up on an annual or semi-annual basis such as:
    • Car Registration
    • Pet Check Ups
    • Car Maintenance
    • Property Tax
    • Insurance Premiums
  • Add the expenses and then divide that number by the amount of paychecks you receive each year. 
  • Finally, set up an automatic transfer of that amount to a savings account that is specifically set aside for those expenses. Do not put it in with your Emergency Savings or a Travel Savings account. It’s too easy for that money to get used for other expenses, or visa versa.   
If annual expenses are typically a stumbling block for you, take 30 minutes today to set up the process. It will immediately pay off for you both financially and emotionally!  
 
 
 
 
Wardrobe Tips from Sophia Loren PDF Print E-mail

By Melissa Tosetti

Years ago I picked up a copy of Women & Beauty by Sophia Loren.  I remember being incredibly surprised at the practicality of her advice.  I felt like I was reading something my mom or one of my aunts would write, not something written by one of the most glamorous women on the planet.

Earlier this week I was flipping through it and was again surprised at her down to earth advice.  For example, she writes:

I used to buy clothes on impulse.  Something in a store would catch my fancy.  I would try it on and if I iked it, home it went.  But so very many times these purchases would turn out to be mistakes.  They would hang in my closet, never worn, and reproach me every time I looked at them. 

My new approach begins with planning... the main thing is to avoid going into a store wtih no idea of what you want.  This can spell diaster and this is how you fill your closet with clothes you never wear. 

Before you go into a store you must also examine what you already have.  It is simply wasteful to buy all new clothes every season; even if you have the money, and certainly not many people have, it means you haven't discovered what really is the best look for you.  When you buy the right clothes, you should find that you can wear them for many seasons.

The book is now out of print, but if you can find a used copy, it's a worthy investment!  In addition to advice on building a wardrobe, she also discusses skin and hair care as well as the value of a healthy diet and exercise. 

 
Do Ahead Meals PDF Print E-mail
By Melissa Tosetti
 
Growing up across the street from my grandparents had a lot of perks - my grandmother's cooking being at the top of the list. On any given day, there would be something delicious in her refrigerator, ready to be warmed up and enjoyed.
 
Making a large batch of stew, pasta or Portuguese beans and eating it throughout the week is one of the many savvy lessons I learned from my grandmother.  It's a habit I continue to this day.  In fact, there's a pot of lentils in my refrigerator right now that I've been eating in various forms all week.
 
I can easily eat the same thing for several days in a row.  My husband Paul, not-so-much.  He prefers more variety.  Because of that, we got in the habit of doubling what we cook on a regular basis so he has plenty of choices when time is tight.
 
One of my favorite blogs is Stone Soup by Jules Clancy where she focuses on how to prepare quick and easy healthy meals.  The other day she posted a great piece on The 3 Golden Rules of Do Ahead Meals.  It was her post that got me thinking about the habit of do ahead meals that my grandmother instilled in me. 
 
This weekend, take a few tips from Jules' article and make one or two extra meals.  Then, see just how much time and money you save throughout the week. 

 
Savvy Celebrities PDF Print E-mail

By Melissa Tosetti

Open up a newspaper on any given day and there will be an article about an actor, athlete or musician who earned millions of dollars, and lost everything by overspending. Their stories demonstrate that no matter how much money you make, it's impossible to be financially successful if more money is going out the door than is coming in.

So, it was refreshing to stumble across this article featuring six financially responsible celebrities: Zooey Deschanal Never Pays Late Fees and 5 Other Smart Money Lessons From Celebrities.

From Kristen Bell to Mindy Kaling, read about their savvy money habits and pick up a few tips.

 

 
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