Digm Piece (Op-Ed)
Ready, Set, Save!

When you’re a student trying to finance your education and barely making ends meet, saving money may feel totally out of reach. But having even a little money set aside is really important, especially for emergencies. With a little creativity and determination, you can do it—you may even be surprised at how easy it can be. Here are some tips to help you get into that smart savings mindset:
Start Small
Remember that no amount is too little. Even putting away just $10 per week will yield $520 in a year. Start by putting your loose change in a jar and don’t spend it. Down the road, as your income increases and/or you find other ways to economize, you can increase your savings goals and take advantage of the power of compound interest. Try out this savings calculator to help you visualize the possibilities.
Μake it Automatic
One of the easiest and most effective ways to save is to make it automatic. Pay yourself first by setting up direct deposit of your paycheck, then having your bank automatically transfer a set amount to a savings, investment or other account.
Avoid Impulse Spending
Sometimes our spending habits are a sign of other stresses in our lives, so before making a purchase, take a few minutes to clear your head and think about whether you really need the item, or if you’re just trying to make yourself feel better. For large purchases, it’s a good idea to wait at least 24 hours before buying; it’s amazing how your perspective changes when you give yourself at little time to re-evaluate.
Stop Accumulating Debt
While you may be carrying student loans to help pay for your college expenses, make a pledge to minimize other debt, such as credit cards or car loans. And stay away from risky debt such as payday loans.
Review Your Spending Habits
As Benjamin Franklin once said, “Beware of little expenses; a small leak will sink a great ship.” Find savings in your day-to-day expenses by reviewing your past spending habits and setting up a new budget. Be sure to include an amount for savings and treat it as an “expense” to encourage you to cut back on other things to balance your budget. Check out this article for more information on how to make a budget.
Don’t Leave Money on the Table
If you have a job, be sure to take full advantage of your employer’s retirement savings benefits, such as a 401k. Many employers match your contributions up to a certain percentage, so failing to participate is like passing up free money. Even if your employer doesn’t provide a match, it is really important to start saving now for your retirement—so important that the government offers tax advantages to these programs. And when you get a raise, think about upgrading your 401k contribution.
Turn Payments into Savings
Here’s an extra tip for students paying for day care. Once your child is out of day care and attending public elementary school, take the money you were paying for day care and redirect it automatically into a college savings account. It’s money you weren’t used to seeing anyway, so before you get tempted to spend it elsewhere, put it toward your child’s future.
For more for more support, ideas and tips, visit AmericaSave$.org
Digm Piece (Op-Ed)
5 Hidden Risks in Retirement That Could Affect Your Financial Security

Being well-prepared for retirement is wonderful, but there is no fail-safe plan. Things can unravel due to many inherent post-retirement risks. Understanding those risks that lie ahead and how they can harm financial security is key to making critical adjustments in a retirement plan. Sometimes without those changes, the impact of unfavorable and unpredictable events can be far more severe.
“Once you have a retirement plan in place, it’s not set in stone,” says Clayton Alexander (www.retireteton.com), an investment adviser and founder of Teton Wealth Group. “
Alexander says retirees and those making retirement plans should be aware of these five risks:
- Longevity.
Running out of money before they die is one of the primary concerns ofmost retirees . This worry is heightened by the fact that the average life expectancy has increased. “A pension or an annuity can lessen the risk, but carefullyinvestigate any company where you’d place an annuity and be cautious of feesand interest rates,” Alexander says. “It’s best to tailor your plan to run to life expectancy plus five years.”
- Loss of income. “Make sure both you and your spouse are protected from the unexpected,” Alexander says. “Consider the financial impact of the loss of one spouse. Remember that your surviving spouse will only get the highest of your two Social Security checks. A spouse’s death can bring additional financial burdens, including lingering medical bills and debts. Life insurance and estate planning are important vehicles to protect survivors.”
- Health care costs. Longer life expectancy could lead to high costs in a long-term care facility. “It’s estimated that approximately 50% of people over 65 will need long-term care,” Alexander says. “Do not overspend on policies that may be subject to drastic premium increases. And surprising to some, Medicare is not free — your premiums for coverage are usually deducted from your Social Security check. Medicare doesn’t cover dental, hearing or vision, is subject to deductibles, and doesn’t cover long-term care. Long-term care insurance is advisable.”
- Negative return risk. “A 50% gain does not allow a portfolio to recover from a 50% loss,” Alexander says. “In fact, a 100% gain is required to restore a 50% loss. The ‘buy and hold’ strategy that works when you are young — where
you wait for the markets to come back up after a downturn — does notapply in retirement as we saw in2008, when many people’s retirementswere wiped out. Common stocks have substantially out-performed other investments over time and thus are usually recommended for retirees as part of a balanced asset allocation strategy, but the rate of return you earn can be significantly lower than the long-term trends.”
- Inflation risk. “
You should plan on prices for food, goodsand services gettinghigher during retirement, reducing your buying power incrementally as youare living on a fixed income,” Alexander says. “Your retirement plan hasto factor that in. Ways retirees can curb the effects of inflation include annuity products with a cost-of-living adjustment feature and investing in equities, a home, and other assets.”
“Understanding what the potential post-retirement risks are and considering them in the retirement planning stage,” Alexander says, “can help to ensure that they are mitigated and properly managed.”
About Clayton
Digm Piece (Op-Ed)
Are Americans Undervaluing Paid Time off + Quick Trip Tips

It’s August, which for many Europeans means taking almost the entire month off. So why is it difficult for Americans to take even the little vacation time they receive? A recent piece in The Economist states workers in the U.S. are doing it all wrong by going on short holidays, which can add even more stress or taking none. Instead, it’s essential for employees to recharge their batteries. It’s also beneficial for companies to have a consistent holiday month during which junior employees can head to the beach, and managers can take stock of things, says the report.
While many Americans may not receive paid time off, especially those that only work part-time, even those who receive it generally don’t take all of it. What we don’t realize is that not taking a vacation is like giving money back to your employer, especially with companies that have a use it or lose it policy. Which should encourage employees to use their time but unfortunately it does not. According to recent polls conducted by Bankrate, nearly 2600 US adults say they plan to take a quarter of their vacation days while 4% are not planning to take any vacation time at all.
Time off is a valuable perk, to the tune of millions of dollars! Just to bring the point home in 2017 Americans gave up 212 million days off that amounts to $62.2 billion in lost benefits! So, take your vacations and follow the tips below to not break the bank while taking time off:
- Take a Staycation – Stay local and vacation somewhere that is less than a day drive away, this helps save gas, mileage, and spending on lodging. Look for local attractions, vineyards, interesting museums and landmarks or even travel to your closest big city and be a tourist for a day. You would be amazed at how much you can discover and learn by staying local and all on the cheap! It’s a bonus if you have friends in the town your visiting they can serve as a tour guide and let you stay over for free if they have the room.
- Book Flights Off-Season – July 4th, Memorial Day and Labor Day seem like a great time to go on vacation; unfortunately, everyone is planning to take time off during those busy weekends, and ticket prices are through the roof because of it. Book flights after major holidays and during the week you will generally find that they are cheaper than weekend flights.
- Take a Road Trip – Road trips are fun and cheaper than taking a plane, especially if you must rent a car when you get to your destination anyway. Plan cool stops along the way and finds interesting places to eat that way you can make the journey part of the vacation.
- Plan to Eat In – Food adds up on vacation so pack food and making one or two meals in your hotel can keep you under budget.
Digm Piece (Op-Ed)
Top Ten Freshman Money Myths

Starting college is one of the most important and exciting times of your life. Now that you’re all “checked-in,” enjoy your college experience without worrying about where your next meal will come from by chasing away these common freshman money myths. (more…)