• Saving

    Identify your savings buckets

    There are different purposes and time frames for saving.  Each of these should be kept in mentally different buckets and often in different types of accounts.
     
    The main “buckets” of savings”

    • Emergency Fund- meant for the “what if’s” like car trouble, medical bills, a broken phone or computer or security deposit issues
    • Education- may be for current or future schooling for yourself or your children, eventually
    • Retirement- long term future savings
    • Extras- vacation, new car, or down payment for a home.
       
        

    Automate your savings

    For all types of saving, set automatic transfers or deductions from paychecks so that you don’t “miss” those dollars.

    Retirement savings should NOT wait

    Getting a return on your long-term savings, by means of investing, can help to grow your money effortlessly through the power of compound interest (a compound interest calculator can be found in the links and tools section).
     
    401(k)s are often matched by employers up to a certain percentage.  If your employer is contributing, it’s like getting free money

    • Only 48% of private sector employees participate in their available retirement plans.

    The key to the power of compound interest is TIME, an asset that young people have on their side.

    • The rule of compound interest implies that the earlier you start, and the more often you save, the less total money you will need to invest to reach your savings goals.
  • Hamline News

    In order to best keep our community notified in the event of inclimate weather or an emergency situation, Safety and Security has updated the Hamline Alert system. Please make sure your contact information is up-to-date in Piperline so you can receive these messages in a timely manner.

    Hamline University School of Law student Charlotte Tschider's article entitled, "Innovation in the Public Sphere: Reimagining Law and Economics to Solve the National Institutes of Health Publishing Controversy" will be published in the next issue of the Oxford Journal of Law and the Biosciences.

    The Center for Global Environmental Education (CGEE) invites the Hamline community to a reception for CGEE Artist in Residence and College of Liberal Arts Biology Professor Bonnie Ploger to celebrate the opening of her solo art exhibition titled, Embracing the Abyss on Friday, September 12 from 7-9 p.m. at Robbin Gallery.