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Mind, Body, Soul
A
Faux-Pas?!
By Mona Lease
Greetings, Gals!! I had pain show up in my left arm...down the top of
my left shoulder to my elbow...down my back...and up the left side of
my neck. After I figured out it was not life-threatening...I started
taking 2,400 milligrams of pure ibuprophin..in three doses..daily.
I do not smoke cigarettes...nor the left-handed ones neither. I do not
drink alcohol. I do not take any prescription medicine. I do not drink
soft drinks. I do not drink coffee. I rarely drink caffeinated tea. I
also...apparently...do not think. Looking back...I probably should have
only taken 1,800 milligrams of the ibuprophen. It's stronger than you
think. I'm fine now...a tad achy. Sorry readers, that there were no
columns last week.
Since the price of gas is due to rise...since our Government is talking
of taking money from our military (a move I believe is designed to
"urge" people to contribute) to pay for "the wall" - I'll submit the
following.
30 Money Mistakes You're Probably Making and How To Avoid Them - Jason
Notte, Cheapism
1)Dining Out Too Much: The Bureau of Labor Statistics says the
average American consumer spends $3,400 a year dining out. There are
ways to save money when dining out, but the real answer is to dine in.
2)Not Returning or Exchanging Unwanted Purchases: It's worth the
effort to pay the return shipping or stand in a line.
3)Taking A Vacation You Can't Afford: About 1/4 of Americans
can't afford a summer vacation. And 10% can't travel during the winter
holidays because they are cash strapped. Try a "staycation" or go on a
cheap weekend getaway.
4)Paying Too Much in Banking Fees: The average monthly
maintenance fee for a banking account is $13.51. Overdraft protection
fees are $32.75 average. Checking account fees cost consumers an
average of $1,000 a year. If you're paying too much in fees,
disentangle yourself from the institution and it's fees.
5)Paying For Subscriptions You Don't Use: Netflix, Hulu, etc.
People guess they spend $80 a month, but their actual bill is higher.
Including internet and wireless services to use those subscriptions,
the bill is more than $237 a month.
6)Making Ill-Timed Splurges: Maybe you go into steep holiday debt
just before the tax bill is due. Maybe you buy concert tickets and wine
just as it's time to renew the auto insurance. Nineteen percent of
consumers say they're spending at the wrong time and setting back their
finances as a result.
7)Overspending in General: A Charles Schwab survey in 2018 found
that 64% of people wished they'd spent less.
8)Overspending on Gifts: Plenty of people overspend out of
stress, excitement, or sadness over a friend's wedding or around the
holidays. If you can't stick to a budget, try making your own gifts.
9)Going House Poor: Nearly 12 million households spend more than
half of their income on rent. A rule of thumb is to avoid spending more
than 30% of your pretax income on housing.
10)Carrying a Credit Card Balance: If you want to get on top of your
balance, either ask for a lower rate or switch to a zero percent
balance transfer card and pay down your debt.
11)Neglecting Retirement: Every little bit helps. The suggestion here
is to save 15% of your income each year in an IRA or 401(k).
12)Playing It Too Safe In The Long Term: If you're saving for
retirement and won't touch your money for 40 or 50 years, what happens
in the market this month or this year is much less important than what
will happen in the next few decades.
13)Letting Emotion Undermine Investment Decisions: Investors should
decide on a long-term asset allocation, and resolve to stick to it
through thick and thin.
14)Not Having a Will: A will or trust is the only way to make your
intentions known after you die.
15)Lacking Insurance or Lacking Enough Insurance: Going without car
insurance will cost you for lapsed coverage, but it'll also cost you in
fines in several states. A homeowner without homeowner's insurance is
on the hook for damages, mortgage violations, personal injuries, and
even dog bites on their property.
16)Not Having An Emergency Fund: The advice here is to prioritize
saving and investing.
17)Over-Reliance on Benefit Programs: Programs such as Social Security
are not designed to fully replace wages in retirement. Medicare will
not always pay for ongoing long-term care costs.
18)Not Paying Down Debt: Debt payments should make up no more than 10%
of your income.
19)Not taking Required Minimum Distributions: Certain retirement funds,
including IRAs and 401(k)s, force retirees to take a required minimum
distribution halfway through age 70. According to Joe Gaynor, Director
of retirement and income solutions a Fidelity Investments, the penalty
is huge. If your RMD (required minimum distribution) is $10,000 and you
don't take it, the penalty is $5,000.
20)Spending For Rewards: According to CreditCards.com, 47 million
Americans picked up a tab just to earn credit card rewards. If you have
a credit card with a quarterly 5% cash back bonus and you spend $100
dollars at a restaurant - you will earn back $5.00. Your meal will cost
$95.
21)Not Haggling: Just 10% of shoppers negotiate the price of items they
buy all the time.
22)Having Only One Job: The extra income and added job security come in
handy.
23)Falling Behind on Payments: Among credit card holders, about 60% who
missed a payment did so because they forgot. A late payment typically
costs you a fee; but a late payment on credit cards, utility bills, or
your mortgage payment can knock up to 100 points off of your credit
score, which hikes interest rates.
24)Using Credit Cards For everyday Expenses: People tend to spend more
when they pay with a credit card than with cash. This saddles you with
more debt and more is paid in interest.
25)Borrow Money From Friends and Family: Americans lend $288 billion
each year to friends and family. The average loan is $3,329.
26)Quitting Your Job Without a Plan: If you're going in without a plan,
you aren't shoring up your finances, you aren't making alternative
arrangements; you're setting yourself up for worse arrangements than
the one you're living. Think it through.
27)Staying at a Dead End Job: If you're putting a lid on your earnings
while preventing yourself from getting a more upwardly mobile gig, it
might be time to make financial preparations and look for other work.
28)Not Setting a Budget: Consumers who set a budget improve their
mental health and well-being.
29)Never Setting Financial Goals: You can have goals without a plan,
but not having a goal at all is dangerous.
30)Neglecting to Set Up A Financial Plan: Most people are confident
they are taking the necessary steps to meet a financial plan once they
have set it up.
"Sometimes all you need is for someone to just be there, even if they
can't solve your problems. Just knowing there is someone who cares can
make all the difference." - sun.gazing.com
The best is yet to be!! MONA
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