The new Fraud Newsletter
Some really interesting info here at the ACFE’s Fraud Newsletter.
Any thoughts?
WAL
(cut and paste this link if you can’t just click on it, it is worth the effort)
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Some really interesting info here at the ACFE’s Fraud Newsletter.
Any thoughts?
WAL
(cut and paste this link if you can’t just click on it, it is worth the effort)
September 27th, 2009 at 10:16 pm
I had a boss in Seattle, she is a CPA and was the Vice President of Finance, and she had some fabulous advice that I will never forget. She said that if she didn’t have a minimum of 6 months living expenses in her savings she considered herself broke and wouldn’t spend unnecessary money until she corrected that. She would only pay cash for cars and once she bought a new one she would set up a separate account to begin putting money away for her next car. She was, at times, a single mother of 3 kids who had her own house and was very fiscally responsible. She said she learned that from her father who taught her that you should never put yourself in a position where you HAD to have your job. You should always be able to walk away if necessary so they can’t force you to do things you wouldn’t otherwise do. Well I took her advice to heart and my husband and I pretty much live that way now and I certainly plan on keeping it that way because the consequences of compromising your morals can be devastating. It just isn’t worth it in the long run!
September 29th, 2009 at 11:17 am
Wow, what great advise to everyone, especially in this day and age when one never knows about their job status from day to day.
I had learned early on also, that everyone is in good financial health if they save 10% of their salary. It is an easy thing to do when u get into the habit and u dont ever miss it. But at the end of work days, in retirement, u r set.
With these two pieces of advice, we are all set!
WAL
October 4th, 2009 at 3:40 pm
Actually, Suze Orman strongly suggests 8 months of living expenses in this recession should be in the bank at all times. Savings should be 20% of your salary now. 10% in 401K and/or Roth, 5% in CDs, and 5% in Interest Bearing Money Market accounts.