Completely unrelated to finance, I’d like to share a poem appropriate for Mother’s Day. The Lanyard was published in 2005 by Billy Collins who was U.S. Poet Laureate from 2001-2003. I have to admit, if I just read it myself it might not have had the same impression as hearing the author read it himself. Billy Collins was a guest on the 2005 New Year’s Eve A Prairie Home Companion and I guess that if I recall his reading this over 6 years later, it must have caught my attention. Take a read or listen and let me know if you ever had your own lanyard experience with mom.
Frugal Zeitgeist posted that the Top 1% Keep Getting Richer. I don’t doubt that. Under median income (about $50K for a family) saving is very difficult, and income is all from wages. Someone already worth tens of millions of dollars isn’t likely to be a W2 employee. They are making money from their wealth. “The rich get richer” is hardly a new phrase, it’s been true for a long time now.
Jeremy Vohwinkle at Generation X Finance answers the question My Employer Stopped Matching My 401k – Should I Still Contribute? An excellent analysis of this issue, and with so many companies reducing or eliminating the 401(k) match, it’s something many need to think about.
Getting back to basics, Green Panda asked Do You Balance Your Checkbook? It seems that many of his friends who don’t are paying overdraft fees that are adding up. Jane and I are paid every two weeks, and we don’t balance to a mailed statement, we balance with every check. The deposit goes in, and we quickly look at the balance the bank says we have, subtract the checks that haven’t cleared, and the numbers match. Right then, we look to see what bill will auto-pay before the next paycheck and make sure they’re covered. It’s actually faster and easier than it sounds.
And to wrap the week up, 6 Ways College Grads Can Save On Their First Apartment, a guest post at Planting Money Seeds. I’ll admit, I’m a sucker for a good list, and if you’re a recent grad or about to be, this is a list worth reading.
The poem was perfect and I have a new poet to read, thank you.