Married? Cut the time in half!
Instead of 5 years only 2.5.
#costofliving #disposableincome
#paycheck #payucheckology #personalfinance #finance #financenews #financialtips #personalfinancetips
š
Itās 2024 and youāre 30 years old. You saved over $300.00 on Memorial Day sales.
šø You put that in a Roth IRA instead of leaving it in your bank.
šļø You do this for every major holiday sale (18 of them) moving forward.
š By the year 2059, assuming an average growth of 10.25% your Roth IRA would grow to over $1.5 million!
š° Even if you stop investing at 2059 youāll make about $159,000 per year off interest alone!
š± You can plant the seeds to make your money grow. GO! ā¶
#paycheck #paycheckology #finance #financialtips #personalfinance #RetirementPlanning #Savings #Investing
š Here are 2 ways to inflation proof YOUR Money ā¬
š° 1) High-Yield Savings Accounts: These are similar to traditional savings accounts but offer higher interest rates that can sometimes keep up with or exceed inflation.
š These accounts are still FDIC insured, which means your money is safe up to certain limits.
š 2) Stock Market Investments: Investing in stocks, mutual funds, or ETFs (exchange-traded funds) can offer higher returns, although with higher risk.
š Historically, the stock market has outperformed inflation over the long term.
š Follow for more tips to help you with your money.
#paycheck #paycheckology #finance #financialtips #personalfinance #InflationProof #Savings #Investing #WealthBuilding #inflation
SAVE THIS post to save money š¤Ā
š¤ Automatic payments are amazing if you want to get better at paying off your debt and hitting your savings goals!Ā
š° With automatic payments, you can put money away without even thinking about it!Ā
#savingchallenges #savingsgoals #debtpayoffgoals #debtpayments #debtfree #savingmadeeasy #savingmoney
š¢ BOOMERS!
š” Millennials and Gen Zers who are complaining that they can't buy a house are not working for minimum wage.
šø These are people making up to $90,000 a year but STILL can't afford a home.
š£ļø Minimum wage workers are also complaining because they can't afford it either.
š°ļø Back in 1980, a single bedroom apartment's rent was $243.
šµ Minimum wage was $3.10, so monthly income was $496.
š So rent would be 48% of your income in 1980.
š Fast forward to 2024. The average rent is $1722.
š° Minimum wage in 2024 is $7.25, giving you $1160 a month.
š You can't even get an apartment with the current minimum wage.
š A minimum wage worker in 1980 spent 48% of their income.
š A minimum wage worker in 2024 needs 148% of their income.
#paycheck #paycheckology #finance #financialtips #personalfinance #EconomicInequality #HousingCrisis #LivingWage #AffordableHousing
šµ If you have $400 a month to invest, here's how you can grow that $400 to $2.7 million.
š Invest your money in the stock market, which will get 10% as a rate of return on average.
š° You will grow that $400 into $2.7 million in 40 years.
š But wait, here is the best part.
šø With $400 per month your total contributions over the course of that 40 years is only $192,000.
š¤ And your $192,000 just made you over $2.5 million in interest over time!
š§ Learn how to invest, and let the money work for you.
#paycheck #paycheckology #finance #financialtips #personalfinance #Investing #getrich #CompoundInterest #howtoinvest
If you're not happy you're using it wrong š
give it away make someone else's day ā¤ļø
And make that someone me please š«¶
#moneymotivation
Would more money make you happy?
š° You're 30 years old, and you got a tax refund of $3200. Invest that, plus $300 per month until you retire.
šµ Youāll have $1.2 million dollars by the age of 65.
š¤ People always think, I should've started earlier I missed out.
š« Nope! Even if you start at 30, by 65 you'll have invested $129,200.
š If you invest that in the stock market, which earns about 10% in returns which compounds monthly with your contributions leaves you with over $1,243,000.
š Itās never too late!
#paycheck #paycheckology #personalfinance #finance #financialtips #personalfinancetips #Investment #Retirement #CompoundInterest #millionaire
BONUS tips in the caption š
10 Things You Didn't Know You Could Claim On Your Taxes
š§³ Moving Expenses
š¶ Child Care
š School Expenses
š Student Loans
šļø Kids Camps
š Medical Travel
š» Work from Home Expenses
š¤ Union Dues
š”ļø Insurance
šļø Digital News Subscriptions
BONUS 3:Ā
š Vehicle Work Expenses
š Medical expenses (Over 7.5% of income)
šØāš©āš§ Dependant care (NOT just children)
Save this for when you file taxes! ā¬.
#paycheck #paycheckology #personalfinance #finance #financenews #financialtips #personalfinancetips #TaxDeductions #SaveMoney #TaxSeason
š© If you are sick and tired of paying for your friends meals and expensive orders you need to watch this
šµļøāāļø Every now and then I eat out with my friends.
š½ļø and everyone will get a normally priced entree. Except this one guy.
š¤µ He orders something on the higher end like a steak along with a drink and a dessert.
š¤·āāļø Now that could be fine
BUT
šµ when the bill would come, and we would discuss how we want to pay he would say let's just split it evenly, it's easier.
š
NO.
Technology now makes it easier to split the bill fairly.
First!
the easiest option. Just ask for seperate bills.
restaurants software is much better now.
if you're not a big group/the place isn't busy just do this.
Second
š± there are apps to help you split the bill fairly!
The app is called Tab.
It's on Apple & Android.
š you take a photo of your group Bill
š¤ and everyone in the group can join the bill from their phone.
ā
You choose what you ordered and only pay for your share.
š§® a great bonus is it calculates tax and tip for each person in their total too.
šµ Then you guys can just venmo, zelle, cashapp whoever pays.
š« I have no problem paying a few extra bucks with friends
š„© but I'm not about to pay for someone's filet mignon or fancy drinks that I don't want.
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #budgeting #savings #moneymanagement #debtmanagement #spending #savingsgoals #wealthbuilding #eatingouttips #financialfreedom #moneysavingtips #restauranthacks #frugalliving #frugalmeals
š Is a prenup good or bad for you?
š Whether you write one or not, you get one.
šļø You just get it from the government vs getting to write it yourself.
š In 2021, the divorce rate was about 46% according to the Census.
š You've heard the stories of one person getting the money, the house, the cars, etc.
š£ļø And the other person is left on the wayside.
šø You don't need to settle for that if money is your concern.
š¤ A prenup gives you the opportunity to make an agreement when you're in a good place with your partner.
ā¤ļø It doesn't have to be about not trusting them.
š£ļø If you start the conversation about a prenup right from the beginning of a relationship,
š± Then keep it going as it grows, maybe you can take away some of the discomfort.
š AND make sure you're both taken care of.
š¤ BUT does that outweigh the lack of unconditional commitment that marriage is intended to be?
š Prenup - good or bad?
š¬ Comment below!
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #prenup #marriage #divorce #relationships #commitment #legal #financialplanning #loveandmoney #census #assets #agreement #protection #moneytalks #maritalfinance #decisionmaking
šØ KEY š Things to watch for your š¤ money in 2024
š The main one being inflation.
š Interest rates have been high.
ā¬ So high.
ā³ For so long.
š¦ This caused the collapse of 3 HUGE banks back in the spring.
š¤·āāļø While you may have not felt the effect directly.
š®āāļø These crashes caused people to ask for more strict regulations.
š« These will most likely make it harder for middle and lower income people to get loans.
š„ If rates stay high, we could see more things break.
Takeaway:
1ļøā£ā Avoid loans and debt whenever possible for now with high rates.
2ļøā£š Keep an eye out for better savings accounts that let you benefit from high rates.
š The problem is, if the Fed cuts rates too soonš or late š¢, it could cause a recession š± or higher inflation.
š Follow us for part 2 of this video!ā¬
š³ļø I'll cover how Trump's tax policies are expiring soon.
š So the 2024 election WILL affect the economy.
š¼ And why you NEED to ask for a raise NOW!
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #inflation #interestrates #banking #economy #recession #regulations #loans #savings #federalreserve #taxpolicy #2024election #economictrends #moneymanagement #financialplanning #incomegrowth
š Basic grocery purchases by Kevin McAllister in the 1990 film Home Alone went from $19.83 to $44 in 2022.
š Today in 2023, the same experiment ran a bill over $72 at one Chicago grocery store.
šø In one year from 2022 to 2023, it almost doubled again!
š° In 1990, these groceries were $19 and the median household income was $40,000.
š¤ Some of you may say, well sure, groceries doubled in 2022 to $44, but the income doubled as well.
ā
Yes! True.
š But in the past year, the cost went from $44 to $72, which is a 160% increase, but median household income is the same!
š Groceries aren't the only thing.
š Housing, transportation, and healthcare costs are up too!
ā¤ļø Like this post if you want tips on how to save money on your groceries and cost of living.
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #inflation #groceryshopping #costofliving #savings #budgeting #economy #householdincome #frugalliving #spending #financetips #moneymanagement #personalbudget #smartshopping #priceincrease #financialawareness
š If you're in your 30s and 40s and think it's too late to be rich, you're wrong.
1ļøā£ In your 30s and 40s, you're likely past entry-level incomes.
š Most people reach their top earning potential in their late 40s.
š You're not an easily replaceable unskilled worker, you are valuable!
š° You need to ask for a minimum 15% raise every single year.
š Or find a new job that will give it to you.
š Yes, it sounds crazy, but we're playing catch up.
š You need to be more aggressive than you would be had you started earlier.
2ļøā£ You need to budget hardcore.
ā I'm not here to shame you for wanting the occasional Starbucks, but you're going to have to make some sacrifices if you want to retire.
šµ Typically experts recommend a 50 30 20 split for needs, wants, and saving/investing.
š But if you can get saving/investing closer to 40% of your income by cutting down on needs and wants, you'll be in much better shape.
3ļøā£ Open up a Roth IRA or a back door Roth IRA ASAP.
š¦ Contribute the maximum amount each year.
š Remember, whenever it comes to investing do your own research!
š§āš¼ Consult a financial advisor.
š follow us if you want to learn more about how to get rich! š¤ā¬
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #wealthbuilding #retirementplanning #RothIRA #investing #savings #careerprogression #earningsgrowth #budgeting #financialplanning #investmentstrategies #indexfunds #financialadvisor #moneymanagement #incomegrowth #wealthaccumulation
š Think you need a degree for a great job? You're wrong!
š A survey shows over half of US companies already dropped degree requirements for some jobs.
š¦ø Big names like Walmart, IBM, and Google are leading this trend.
š Accenture, One of the largest consulting and professional services firms in the world, hired 1,200 workers through their Apprentice program.
80% of them had no degrees!
š» The tech industry leads the charge with 72% of employers looking to drop the degree, followed by finance (61%) and construction (42%)
š¢ 70% of companies are dropping degree requirements for entry level roles, but 61% are dropping them for mid-level roles and even 45% for senior roles!
š² Share this post with anyone you care about who didn't get a degree. š
š¤ They could make more money and you can be the reason why!
š Secret hack rich š¤ people use to get Medicaid?! š„
š¤ This is the secret hack rich people use to get Medicaid
š° and then make the government, really YOU, the taxpayer, cover their medical costs!
Here's how it works:
š Medicaid looks at 2 things: income and assets.
šµ Both have to be under a low limit that varies per state.
š¦ For income, rich people will open qualified income trusts where their income is deposited and controlled by a trustee.
š« They can still access the money for restricted needs.
š But because the funds are legally owned by the trust instead of the individual, it no longer counts against their Medicaid limit.
š For assets, rich people use asset protection trusts.
š¤ These are literally nicknamed Medicaid trusts because of how often this trick is used.
š¼ These remove assets from your estate to help you qualify for Medicaid.
ā³ An important note here is that you need to set up your asset protection trust at least five years before you think you'll need the Medicaid benefits.
š That's because there is a 5-year look-back window to assess your assets!
š§ whether it's ethical or not - this is legal and rich people have been using tactics like this forever to get ahead.
š So it's important that you learn how the system works too!
š If you want to learn more about how rich people handle their money to get the most out of it, follow us at Paycheckology!
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #wealthmanagement #medicaid #taxplanning #assetprotection #trustfund #legalstrategies #taxpayer #government #ethics #financialplanning #estateplanning #incomeplanning #assetmanagement #wealthstrategy #smartmoney
Here's what to LIE about on job interviews.
š 1) Hate your current boss?
In interviews, say you're seeking new challenges.
šø 2) Want the job for money?
talk about something else you like.
For example the career building or the company's mission.
š 3) Bend the truth on skills, it's all relative.
You might not be an Excel expert but you can be proficient.
š¤ Don't lie about anything big you can get caught for.
Like your school or past jobs.
š What's the biggest interview lie you ever told?
š¬ Comment below! š
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #JobInterview #CareerTips #Employment #CareerGrowth #InterviewTips #JobSearch #Skills #TruthInInterviews #JobHunting #CareerAdvice #CareerJourney
š Here are the 5 best Michigan light shows for the holidays.
š¢ Wild Lights at the Detroit Zoo - $17-25+
š“ The Christmas Lite Show at the LMCU Ballpark - $20+
š” Big Bright Light Show in Downtown Rochester - FREE!
š£ River Lights of Wonder in Three Rivers - FREE!
šµ Spring Lake Sparkle - FREE!
š¬ Comment your favorite light show below! š
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #HolidayLights #Michigan #FamilyFun #WinterWonderland #LightShow #HolidayTradition #ChristmasLights #WinterLights
When you've done well saving all year and then black Friday hits you š¤¦āāļø
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #savingmoney #spendingmoney #holidayshopping #blackfriday #blackfridayweekend #blackfridayshopping #budgeting
š Black Friday is ending. BUT!
Don't make these mistakes and LOSE money instead of saving!
šØ Here are the top 3 mistakes you're making that are costing you money!
š³ Overspending: 64% of you spend more than planned. Stick to budgets!
š Impulse buying: 40% of purchases are unplanned. Check if you actually need what you got.
š Not comparing prices: 2 minutes checking can save you hundreds!
š” Be smart this Black Friday.
Don't let deals drain your wallet!
#paycheck #paycheckology #newsletter #personalfinance #finance #financenews #jobnews #financialeducation #financialtips #personalfinancetips #financialwellness #financialliteracy #financialknowledge #BlackFriday #Savings #Deals #Budget #MoneyMistakes #SmartShopping #Discounts #Overspending #ImpulseBuying #PriceComparison #Budgeting #ConsumerWisdom #SpendWise #blackfridayshopping #blackfridayweekend