Saving

How Much Did I Save In 2016?

Last Updated on January 22, 2018April 25, 2017 23 Comments
This post may contain affiliate links.Financial Panther has partnered with CardRatings for our coverage of credit card products. Financial Panther and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

For me, 2016 will go down as the first year I began aggressively saving for retirement. It sort of bums me out that I’m getting into the savings game so late. At 30 years old, I’m way behind my more financially literate peers, some of whom have already retired or established huge treasure troves of savings. See folks like Millennial Revolution, Money Wizard, and Fiery Millennials.

A part of it is a byproduct of me entering a profession that requires years of extra schooling and a ton of student loans. While most people start their first job at 22 years old, most lawyers won’t start their first job until they’re 26 or 27 years old.

Save $100,000 By Solving The Last Mile Problem

Last Updated on January 22, 2018April 8, 2017 18 Comments
This post may contain affiliate links.Financial Panther has partnered with CardRatings for our coverage of credit card products. Financial Panther and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

One of the fun things about living in a college neighborhood is getting to see all of the different modes of transportation college kids use to get themselves around town. If you’ve never spent time in a college neighborhood as an adult, take a weekend afternoon and just hang out in one for a bit. I promise that you’ll never see so many creative ways to get yourself from Point A to Point B. Folks travel around on skateboards. Scooters. Rollerblades. Basically anything with wheels. These college kids are masters at figuring out how to get around a city quickly, cheaply, and efficiently.

Non-car based modes of transport that go beyond walking are totally normal in college areas but seem oddly out of place in many “adult” neighborhoods. I know that when I lived in neighborhoods populated primarily by young professionals, I saw far fewer people using bikes as a primary mode of transportation. In even fancier neighborhoods, you’ll probably rarely catch a full-fledged adult biking as a means of commuting.

Where Should You Put Your Emergency Fund?

Last Updated on April 4, 2018March 28, 2017 55 Comments
This post may contain affiliate links.Financial Panther has partnered with CardRatings for our coverage of credit card products. Financial Panther and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Every personal finance expert probably agrees that you should set aside some money as an emergency fund. The amount you should have in your emergency fund is a subject of debate, but the typical rule of thumb is to keep somewhere around 3-6 months worth of expenses. You never know what the future might hold, so it makes sense to at least have some buffer to keep yourself afloat in case something happens.

Since we can all agree that we should at least have some money in an emergency fund, the next important question is where should we put that money?

Insight Card: A Step-By-Step Guide to 5% Interest

Last Updated on October 10, 2018February 18, 2017 647 Comments
This post may contain affiliate links.Financial Panther has partnered with CardRatings for our coverage of credit card products. Financial Panther and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

One of the things I like doing is figuring out ways to get the maximum yield on my cash. Most people just accept whatever their bank offers them. The problem is that even your highest yielding savings account pays you just 1% interest these days.

What a lot of people don’t know is that there’s an entire world of super high yield savings accounts out there. These are savings accounts that pay way more than even your highest paying online savings accounts. The thing about these accounts is that you won’t find them at any normal bank. They’re sort of secret, and you can only find them “hidden” in prepaid debit card products.

Netspend Account: 5% Interest Savings and $20 Signup Bonus

Last Updated on January 24, 2020January 28, 2017 451 Comments
This post may contain affiliate links.Financial Panther has partnered with CardRatings for our coverage of credit card products. Financial Panther and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Most people don’t believe it, but even in today’s market, you can still earn 5% interest on money sitting in an FDIC insured savings account. It does require a little bit of legwork to set up, but once you’ve done it, the entire account is completely automated.

For most people, a 5% interest savings account is a perfect place to store your emergency fund. It’s where I store my emergency fund. And depending on how much you like to keep in your emergency fund, you could potentially have your entire emergency fund earning 5% interest per year.