By Lesley-Anne Scorgie Personal Finance Columnist Mon., March 11, 2019 We moved into our new home on Feb. 27, 2019, the day that Toronto had one of its worst blizzards in decades. The process was long, arduous, and amplified our costs by an additional $450 because we paid for the movers by the hour, and the hours dragged on and on due to the snowfall. About 24 hours later, our car didn’t start due to an unexpected corroded cable in our engine (repairs added up to $350), and we found out the electrical fixtures in our spare room and the main hanging light fixture in our dining room were non-functional due to old wiring (electrician’s fees totalled $500). We dipped into our emergency funds to cover these costs. Also known as rainy day money, this kind of fund is for the unexpected expenses that creep up from time to time. These include job loss, medical bills that fall outside of insurance, a sewage line that backs up in your house, a death in the … [Read more...] about When it rains it pours — that’s why emergency funds are critical
Emergency fund how much
caption How much people have in their savings accounts varies drastically from person to person. source Josep Suria/Shutterstock Saving money every month is crucial to reaching important financial milestones and protecting yourself from an unexpected job loss or other emergencies. Different savings methods work for different people. Here, 10 people reveal how much money they have in savings, and how they did it. Saving money is important if you want to reach both short-term and long-term financial goals. For example, people are saving for retirement, a vacation, or to build up an emergency fund – or all three. Saving, of course, is easier said than done. According to a 2017 GOBankingRates survey, 57% of Americans have less than $1,000 in liquid savings – much less than an unexpected emergency could cost. Northwestern Mutualsurveyed 2,003 adults 18 and up and found that21% of Americans have no retirement savingsat all. Krista Neeley, … [Read more...] about 10 people reveal how much they have in savings, and how they got there
One of the constant refrains among American conservatives is that the US military is the best in the world. Its armed forces are second to none; no other country can come close to competing with it. Paradoxically, these same people, often in the same breath, are quick to also claim that the US military is drastically underfunded and, furthermore, being systematically starved to death. Spending “only” $606 billion on the armed forces – Obama’s last defense budget – is way too little. The Trump administration wants to raise this figure to $686 billion in 2019, ultimately planning on reaching $742 billion by the 2023 fiscal year. The dailyReport Must-reads from across Asia - directly to your inbox OK, fair enough, let’s say that the US military is wasting away, despite somehow still being the strongest army in the world. And let’s say we add another $150 billion to the defense budget. But to do…what? We’ll come back to that later. … [Read more...] about US defense spending: How much is too much?
caption Minneapolis, Minnesota, is quickly becoming a health-tech hub. source Eric Miller/Reuters Silicon Valley has long reigned as the tech capital of the US. But as the cost of living continues to skyrocket, San Francisco Bay Area residents are fleeing the region in droves. In fact, San Francisco lost more residents than any other US city in the last quarter of 2017. For many, it’s time to start looking for other options – but where? Compensation monitoring site Comparably narrowed it down to the 10 cities that are emerging as new tech hubs. Comparably also compiled the local salaries of some of the most popular tech jobs by analyzing more than 8,000 anonymized salary records from employees at U.S. tech companies. Here are the 10 emerging tech hubs from around the country, along with what local employees make each year. Atlanta, Georgia is home to Coca-Cola, UPS, and Home Depot, but it’s also becoming a tech hot-spot. source … [Read more...] about San Francisco is so expensive that people are starting to look at these 10 US cities as the next tech hubs — here’s how much local employees are making
The bicameral conference committee on energy reconciled on Wednesday conflicting provisions of a bill seeking to provide electric cooperatives (ECs) a P750-million emergency and resiliency fund. During a hearing on Senate Bill 1461 and House Bill 7054, or the Electric Cooperatives Emergency and Resiliency Fund measures, the panel decided that the initial emergency fund for 2018 would come from the National Disaster Risk Reduction and Management Council (NDRRMC) Fund, which has more than P7 billion for rehabilitation and restoration efforts. The amount may increase or decrease in succeeding years. “We will give [Congress the flexibility] to dictate how much will be appropriated every year,” Sen. Sherwin Gatchalian, chairman of the Senate Committee on Energy and the bill’s principal sponsor, told reporters after the hearing. Under the reconciled measure, the fund shall be transferred to the National Electrification Administration (NEA), instead of going through the … [Read more...] about P750-M emergency fund for co-ops OKd