MakingCentz

Snarky Thoughts on Personal Finance From a Dad of Two

Young People: Ease Up On the Valentine’s Spending

I pity the fool who had to cut out and hang all those hearts.

I pity the fool who had to cut out and hang all those hearts.

A new report on Valentine’s Day spending shows that young people tend to spend the most on the holiday than older Americans.

The National Retail Federation reports that people between 18 and 34 will spend between $20 and $30 more than the average for all Americans on their significant other or spouse.

The problem, though, is that young people are often the group with the least amount of disposable income to spend on such things.  Continue reading

Layoffs, Emergency Funds and Cars

I will not be purchasing this car in the near future.

I will not be purchasing this car in the near future.

We hear a lot of financial advisors talk about the importance of having an emergency fund. There is some disagreement about how large it needs to be, but most suggest stashing away three months of expenses, at minimum, for a rainy day.

My rainy day came Wednesday, when my full-time employer announced widespread layoffs. Suddenly, I went from having a steady paycheck to facing an uncertain professional future. Continue reading