and eating out; and 20% to savings, which starts by building a three- month emergency fund and then allocating savings to a retirement fund thereafter. If you have credit card debt, Warren suggests allocating that final 20% to debt repayment before you start saving. Otherwise, you’ll just backslide as interest mounts on your existing debt. If you’re able to save more than 20%, adjust the ratios accordingly. If you can’t save 20% just yet, start with less (even 1% each month adds up!) and make a goal to increase your savings by 1% each month or quarter. The Anti-Budget Strategy If Warren’s budgeting strategy feels too complicated, try financial expert and “Afford Anything” podcast host Paula Pant’s anti-budget. Each time you get paid, skim 20% (or whatever your current savings goal is) off the top, put it in a savings or retirement account, and spend the rest however you’d like. Pant’s logic here is that if you tell yourself you’ll save “whatever’s left over at the end of the month,” you’re unlikely to save anything. Free yourself from the worry by saving first, then spend the rest guilt-free. 2 SIMPLE BUDGETING STRATEGIES YOU CAN IMPLEMENT TODAY NO SPREADSHEETS REQUIRED
Paying off debt and saving money are the building blocks of a healthy financial life, but the statistics are dire: One-third of Americans haven’t saved a single penny for retirement, 38% of households have credit card debt, and 44% don’t have enough cash saved to cover a $400 emergency expense. If you see yourself in those numbers, there’s no better time than now to start working on healthier financial habits because April is Financial Literacy Month. Even with myriad apps available to help, budgeting can still feel intimidating. So, why not keep it simple with these two systems you can implement today? The 50-30-20 Strategy Before she was a U.S. senator, Elizabeth Warren was a tenured law professor at Harvard, specializing in bankruptcy. During that time, she published the widely acclaimed personal finance book, “All Your Worth: The Ultimate Lifetime Money Plan.” Some 16 years later, her advice still holds up. That’s because Warren’s approach to money is simple and flexible.
She suggests allocating 50% of your income to needs like housing, groceries, and utilities; 30% to wants like entertainment, vacations,
If 20% feels like too lofty a goal, start with whatever feels doable and work to increase that by 1% each month or quarter.
Service Manager Jared Gets Creative EMPLOYEE SPOTLIGHT
Some people like knowing what each day will bring, but Jared Osuna, Dri Tech’s service manager, is not one of them. “In this job, I get to exercise my creativity in lots of ways,” he says. “No two days are alike. Today I might be on a single-story building in an office park. Tomorrow, it could be a huge warehouse with thousands and thousands of square feet of roof.” “You see a lot of thermal movement in roofs in this climate, and the UV damage from all that sun is a real factor, as well,” Jared says. Solutions rely on his creativity — and also on his team. “I’ve been in this industry for 23 years. Dri Tech is a family-oriented business. We get along great, and we support one another.” Off the clock, Jared loves to go off-roading with his wife and three kids. “Time with my loved ones is my hobby. It doesn’t matter what we’re doing because the time is what matters.” He also enjoys cooking and can pinch-hit a mean date-night dinner!
Thank you, Jared, for everything you bring to the table — Dri Tech is a better place for your creativity, your generosity, and your work ethic.
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