Think a savings account is a waste of time and effort? Maybe $10 would change your mind. Last month the Consumer Financial Protection Bureau (CFPB) reported the results of a study that suggests consumers who don’t use traditional savings methods…
Support is building for a novel approach to increasing the household savings rate. Rather than lecture people about saving more of their cash, some experts recommend linking traditional household savings accounts to lottery-style jackpots instead.
When I turned 27 last fall, one of the first things my baby boomer father said to me over the phone was something like, “27 … huh … that’s old.” He sounded surprised, as if he couldn’t believe that his youngest daughter was just a few years away from turning 30.
However, there was something else unspoken, too. I may be closer to 30 than to 20, but I’m nowhere near achieving the financial milestones my parents had attained when they were my age.