Want to be pampered? Don't read this blogger
Posted
Jan 29 2008, 05:34 PM
by
Karen Datko
Rating:
Kevin Geary at Change Your Tree doesn't try to cajole or sweet-talk readers into adopting good personal-finance habits. Rather, he bashes them over the head. In a recent post called "2 simple savings concepts you should be utilizing but probably aren't," Kevin addresses a common PF-blog theme in a way that makes for a very entertaining and enlightening read.
On saving for an emergency fund, he writes: "If you don't want Citibank holding your umbrella when the rain starts pouring down, you'd better set up a safety net now." He recommends an ING Direct account, adding, "They also have a foolproof automatic-saving feature for those of you who still haven't stopped making excuses."
His other topic in the savings post is the "sinking fund," a special account you set up to save for a specific purpose, like furniture, car repairs or birthdays. We'll let him do the talking in his inimitable style. "Basically, sinking funds allow you to budget for an item over time instead of going into debt for them now. Smart people call this a sinking fund; suckers call it a tax return," Kevin writes. "Of course, it does assume that you have a little-known quality called patience."
