Thu 03 May 2007 – 9.40
*sigh*
Alas, what I have been suspecting since I began Univeristy way back in 1999, Scientific American has concluded that a higher IQ, and more intelligence, doesn’t automatically bring you a higher degree of wealth. While there is a trend between income and intelligence (I would hope so), the trend dies when concerning Net Worth, savings and other measures of overall wealth.
For example, a person with an IQ of 130 earns between $6,000 and $18,500 more per year than a peer of lesser intelligence. But this higher yearly income did not translate into higher wealth. In fact, people with slightly above average intelligence (105 IQ score) had an average net worth higher than those just a bit smarter (110 IQ). “There are some very smart people who get into financial difficulties,” Zagorsky notes. “Even smart people don’t save.”
posted by Scott in careers, education, personal finance.
Wed 02 May 2007 – 11.23
No Commentary from me.
posted by Scott in life, personal finance.
Mon 30 Apr 2007 – 10.49
I am constantly in awe of how much food costs, even at the grocery stores. Every week, when I drop close to $40 on food, I wonder “is there a cheaper way”. Yes, it seems there is.
The couple behind the blog Protoshell have put themselves in the middle of an experiment to see if they could cut there food spend to $20/month. Unfortunately, their cure is nearly as painful as the sickness — who wants to go back to eating Ramen and plain rice? Desperate times and all, but cmon, that’s not really surviving if one’s liver is fighting a constant battle against your salty-and-starch diet.
posted by Scott in health & fitness, personal finance.
How Much Does it Cost to Lose 30lbs?
Wed 18 Apr 2007 – 22.43
On twentyhood, the subject of health and fitness hasn’t really been talked about in great detail. But for all of you trying to slim down a bit for the pending summer (ie, all of us), here’s a bit of numerical fancy from our friends at The Consumerist.
Weight Watchers turned out to be the cheapest, but still with a hefty price tag. I won’t ruin the rest for you.
posted by Scott in health & fitness, personal finance.
Saving for Retirement? Me Neither.
Fri 13 Apr 2007 – 22.30
Yes, I know it’s a good idea, but it’s just so hard to put away that cash when things like groceries stare you in the face every week.
From CNN Money comes the tale of how most people have less than $25,000 in savings — the key figure for retiring. This article has a lot of numbers in it, including some online calculation devices. Never too early to start thinking about eightyhood, or something.
Predictably, the youngest workers (ages 25-34) dominate this group - 68 percent of them have less than $25,000 earmarked for their later years. But so do half of workers age 35 to 44 and a third of workers age 45 to 55 and over.
Yea, we at twentyhood are defilly in the category. Here’s an even scarier reality:
All but the lowest earning men should have accumulated in a nest egg 12 times their income by the time they retire, EBRI estimates. That’s $900,000 for a man earning $75,000. A woman, because of a higher life expectancy, should have 14 times her income.
If you have the stomach, check out the article here
posted by Scott in life, personal finance.
Thu 12 Apr 2007 – 13.31
From The New York Times comes a cool little web-based calculator to determine whether it’s better economically to rent or to buy. Most people would say it’s a no brainer - buy, but depending on the rates and the growth and all that, it may not be the case. There was an article a while back in the Times saying how real estate in New York and San Fran was in fact overpriced and it was mathematically better to rent.
Unfortunately, the sad truth is that most New Yorkers can’t afford to buy so they don’t have a choice.
posted by Scott in personal finance, real estate.
Fri 30 Mar 2007 – 10.46
That is, an inexpensive outing with a romance partner.
Found a list of cheap date ideas, ways to spend an afternoon or an evening without breaking the bank of fancy wine and overpriced coffee (and the automatically included 19% tip). My favourite from the list, definitely the Shakespeare. Then again, I haven’t had a date since last century, so don’t take my advice.
Shakespeare. I like watching plays, especially by the Bard. If the girl likes that too … well, she’s worth her weight in gold, as far as I’m concerned. And Shakespeare is very romantic. Quote her some lines afterward.
posted by Scott in personal finance, relationships.
Tue 27 Mar 2007 – 10.22
We mentioned a while back on the podcast about how young people today feel a sense of entitlement. I think it was Bonetti who was really peeved about this. The point is, an editorial turned up concerning this subject. Good for a read.
posted by Scott in life, personal finance.
Consumerist’s 9-Step Beginner’s Budget
Wed 21 Mar 2007 – 21.25
The Consumerist is a great blog about consumer’s fighting back against big companies, rip-offs, con artists, and all other riff-raff of a capitalist society. Many of the stories are downright scary and reading the daily grind can raise your blood pressure a bit, just out of empathy.
But the other day a great article turned up regarding my favourite subject of personal finance. Now, me, being a stickler and a computer geek, already have a pretty tight system in place. For everyone else, this is an awesome place to start. Check out the post and read it through. Seriously.
posted by Scott in personal finance.
Wed 14 Mar 2007 – 20.51
We’ve talked on the podcast about housing and the struggle to find a decent apartment when you’re on a budget. It’s a recurring theme in life, shelter and that.
Well, here is the story of on California twenty-something who is homeless by choice! Rather than pay the hefty rent each month, he pockets the cash and lives in his truck.
This one you’ve gotta read.
posted by Scott in education, life, personal finance.