Author: Steven Lome

The Gig Economy

https://500dollarcupofcoffee.com/wp-content/uploads/2017/08/The-Gig-Economy.mp4   The combined forces of globalization and digitalization are redefining the workplace and affecting our ability to work, make money and save.  Read “The $500 Dollar Cup of Coffee” to learn how to survive and thrive in today’s gig economy....

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Are You Ready to Invest?

  The answer depends of the size of your savings account. If you have a few hundred dollars in the bank, you’re definitely not ready. If you have several months of living expenses, you’re still not ready. What happens if you lose your job and you’re out of work for 4 or 5 months? How will you cover your living expenses? Do Not Invest the Money You Need to Live You do not want to tie up or put at risk the money you need to live. Stocks are risky; they go up AND down. And even safe investments...

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Why Invest?

  Why Invest?  The simple answer is people invest their money to make it grow. But many young people, who came of age during the finacial crisis of 2008, are not eager to invest after witnessing or personally experienceing the loss of jobs, houses and savings.  They prefer cash. Everyone loves cash, but if you stash it under your mattress, pray that your apartment doesn’t burn down.  If you don’t mind losing money, the bank is a safe alternative.  Today, your bank deposits are earning less than 1%, which is lower than the rate of inflation.  So if you leave your money...

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Commonsense Ways to Save

  When money is tight, it’s not always easy to know where to trim expenses, especially if you’ve already started to home brew your coffee and cut your hair.  If you’re struggling to make ends meet, consider which of the following commonsense savings  suggestions could help reduce your monthly overhead: Move to cheaper apartment and/or find a roommate Get rid of your car or exchange it for a less expensive one Replace cable with streaming Join a family plan for mobile services with your extended family of friends Switch to a lower premium higher deductible health plan (provided you...

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