Archive - July 9, 2019

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Financial planning for college: should you bother saving?
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Spending on Little Luxuries Can Add Up…to More Happiness

Financial planning for college: should you bother saving?

Nobody wants to pay for something, then watch someone less deserving who gets it for free. A dear friend recently raised this situation: are you a sucker for saving, while somebody else spends freely and their kid gets more money from a college?

I’ll give a very qualified yes to this—there are a few situations where it doesn’t pay (very much, at least) to save for college. Let’s say you make under $75,000 a year and have no investments beyond retirement accounts. Your family probably will qualify for some serious financial aid, and would get less if you saved into …

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Spending on Little Luxuries Can Add Up…to More Happiness

In “The Personal Finance Industry is a Scam,” a writer for GQ discusses her thoughts on why “Suze Orman’s rant against coffee is the latest in cable-news advice that puts the blame for an increasingly unequal financial system on individuals.”

The writer recalled meeting Orman years earlier as an unpaid intern saddled with heavy law school debt. Orman told her not to worry about the student loan did since it didn’t affect her credit score. The writer found this advice to be disappointing, as she was hoping to hear something that would help her get on firmer financial footing. …

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