Commentary California has so many problems, can it be saved? I mean for regular Californians. The tech billionaires and top government workers obviously have it good. But the rest of us? It’s worth trying, anyway. A timely new book offers a blueprint for advancing solutions to 10 problems. Three are below. I’ll cover the other…
How to Get $1,000 Into Your Emergency Fund Painlessly
The most important thing you can do to make your personal economy strong is to have an umbrella—an emergency fund with enough money in it to pay all your bills for six months. And it needs to be safe and secure in a bank account. You read that right—half a year’s income! Wait. You can’t…
Think of an Emergency Fund as Insurance
Dear Dave, I have decided it’s time to get control of my money. Your plan sounds workable, but I talked to some friends about it, and they think I would be better off using a credit card for emergencies. Can you explain why you advise saving a separate emergency fund? Leslee Dear Leslee, When bad,…
The Zero-Based Budget
Dear Dave, I have a good job and make pretty good money, but I’m tired of always worrying about my finances and being strapped for cash at the end of the month. I’ve heard you talk about getting out of debt and living on a zero-based budget, but what exactly is a zero-based budget? Edward…
Work First, Play Later
Dear Dave, I brought about $15,000 in student loan debt into our marriage. I’m 26, my wife is 27, and we’ve been married a little over a year. During that time, our parents have helped us out with financial gifts occasionally. Whenever this happens, my wife and I get into an argument. She likes to…
Do I Need to Drink Filtered Water or Is the Tap OK?
These days, a trip to the grocery store requires nerves of steel. The cost of everything, it seems, is soaring. Why? Can we blame the pandemic? Will prices return to pre-pandemic levels once this thing settles down? Will it ever go away? Who knows? One thing is for sure: It’s time to hunker down and…
The Frugal Lifestyle
I’ll admit I used to think frugality was a distasteful lifestyle forced upon the poor. I believed it was synonymous with never buying new clothes and dumpster diving under the cover of night. Boy, did I have a lot to learn. And learn I did—and I continue to learn—that it is the path to building…
Saving by Choice, Not by Chance
A question that I answered in a previous column brought a small avalanche of mail, mostly from readers who were aghast that I would suggest they save such a significant portion of their paychecks for retirement. It was money they insisted they could not afford to save. I can only imagine that for a person…
Live Like the Money Isn’t There
Dear Dave, I’m 24, single, and I make $60,000 a year. I’m also debt-free and live in an apartment, plus I have about $550,000 in a brokerage account that’s made up of 75 percent mutual funds and 25 percent single stocks. The money in the brokerage account was originally an inheritance of $280,000 that has…
3 Ways to Stop Spending and Start Saving
Did you know nearly 40 percent of Americans can’t cover a $400 expense from their savings? People give many different reasons for not being able to save money, and I’ve heard them all. Some people do have it harder than others, but I’ve also seen enough single moms work three jobs to change their family…
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