WHY DO I NEED A LIQUID RAINY DAY FUND WHEN I HAVE A


401(k) AND AN IRA? You still need to have access


to money to cover unexpected expenses.


STOCK ALERT! Forget it. Nobody gets rich quick. Consider investing in a low-growth, low-cost index


fund, and let the money grow over time.


GET-RICH-QUICK


DEBT. Unless it’s a mortgage, debt is not a good thing to have. Get rid of it.


I’LL EVENTUALLY PAY OFF THAT


DON’T NEED YOUR ADVICE. Stop living in a fi nancial fantasy, and get real advice from a professional.


I KNOW WHAT’S BEST, SO I


KIDS? COLLEGE?


I’LL PUT MONEY AWAY EVERY MONTH, I


PROMISE! Nope. Make it


automatic so you can get more out of your paycheck before it gets into your hands!


MORE AGGRESSIVE AND ARE LOOKING TO GET


“MEN ARE MUCH


IT’S SO SHINY! Take three deep breaths, and think through the decision to buy something big.


THE MOST RETURN ON THEIR INVESTMENTS,” SAYS STEVE LEWIT.


“THEIR SPOUSES ARE LOOKING AT SAFETY


OVER THE LONG HAUL.”


birthday by running her 40th marathon. “T at’s pretty standard,” said David Bakke, a fi nance expert at


Money Crashers, a personal fi nance blog. “Men tend to spend more on things like alcohol, food and entertainment, while with women the main culprits are clothing, personal care and health.”


WHAT WE LEARN & SPEND


It sounds stereotypical, but when Scott Hatzung laid eyes on a new fl at-screen TV at a Black Friday sale, he purchased it and a $250


GPS gadget, which, he admits, “I didn’t need at all.” Saying no to frivolous spending is tough for anyone. Men carry


4.3 percent more debt, but a higher proportion of women carry some credit card debt compared with men. Katie, 39, says she keeps an eye on her purchases and doesn’t spend recklessly in part be- cause in the past she carried some heſt y credit card debt. Similarly, Anna White, a Los Angeles–based public relations pro-


fessional, frivolously ran up a large balance on a credit card dur- ing her post-college years but paid it off . To that end she’s tried


statefarm.com® 15


THAT’S A LONG WAY OFF. It’s not. The cost of education


skyrockets yearly. Start saving now.


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