Apologies for the really long absence, but with the Easter holiday, going home to Wallkill several times in the past month, and a crazy period at work, I haven’t had much time to update anything worth substance.
In the past week, there have been several fantastic personal finance-related stories in both the New York Times and Wall Street Journal.
No, none of these have anything to do with income taxes. Do make sure you file by April 15th, though, or else the big bad taxman just may come after you.
If you have the time this weekend, definitely peruse these not-so-long stories. I’ll give a quick summary and my thoughts on each one after the jump.
I’m starting the New Year strong — after posting approximately a 5 percent increase in my net worth last month, I continued to make gains in January.
On to the numbers …
There was a very interesting article in the New York Times this morning about how Americans are saving again, much more so than the years leading up to the recession.
According to the piece, in October, Americans were saving at a rate of 4.4 percent. The percentage has fluctuated this year, reaching its peak in May (6.4 percent — the highest since 1993).
It got me to thinking about how much I’ve actually been saving — especially in the past year when my pay kept getting cut and times were tight.
I kind of referenced it in a past post, but I received word that I got offered a new job — which I accepted — earlier this week. It’s a marketing writer position for an enterprise software company close to where I live. I feel it’s the next step for me, a growing company, and counting furloughs and pay cuts I’ve taken at my current job … a 50 percent pay raise.
While I’m extremely happy about these prospects, it leads me to believe it’s time to revisit what I have been doing with my finances. Sure, I’m still going to do the same things — budget, save, etc. — but with more money coming in every couple of weeks there are bound to be some changes.
When it comes to our generation, Generation Y, most people have their own opinions already formed about us: the vanguard in tech savvy, lazy, spoiled, shining lights in a dim world, etc.
No matter what anyone wants to say about us, we’re nothing if not complex. This week, there were several articles that examined our attitudes and patterns regarding money management and completing college. Just like our parents, we are affected by the same macroeconomic issues facing everyone today — we’re just handling it in different ways.
There’s only one article to look at in this installment of Daily Dimes — but I feel it is an extremely important one (especially for Gen Y).
A post from the Boston Globe brings to light statistics from Fidelity Investments supporting the theme that this recession is making Generation Y (that’s us, twentysomethings) a bit more conservative when it comes to money management and job-hopping.