We don’t have full data on Christmas 2016 yet, because we have a bit of a hangover on our Christmas retail spending. It goes beyond Christmas. We’re all using our cash that we got at Christmas or our gift cards. As of November, we saw sales growth of 3.8% over the previous year. That’s not fabulous, but it’s good. We’re waiting to see what we end up with once everything is done. It was a good year, but it wasn’t for all retailers; it wasn’t even across the board. The reason w
"Have you started saving for your child's college experience?
Dr. Nancy Anderson stopped by with tips on why you should start saving NOW in our Midday Money segment." WLBT http://www.msnewsnow.com/clip/12702250/midday-money-time-for-school?autostart=true #savings #financialplan #financialadvisor #investmentadvisor #feeonlyfinancialadvisor
It’s fall. This is the time to sign up for MPACT. MPACT is the Mississippi Prepaid Affordable College Tuition Program. It works like an insurance policy. There is an annual signup. September 1st is when it starts, and it will go through the end of the year (December 31st). The price you pay is going to be based on several things: first, the age of your child (the younger that child is, the cheaper it’s going to be for you to get started), whether you decide to send them to a
When we look back at our savings habits, we see two different tales going on. From 1949 to 1984, our savings rates averaged 11.1% per year, and in no one of those years did we save per household less than 9%. We step after 1984, and we see a totally different story. Since then, we have never been over 9%. Shockingly, in 2005, our average savings rate was only 2.6%. In the summer of 2008 before the Financial Crisis, we were at nearly zero on our savings rate. In 2009, we bumpe
The good news is that our retail season looks like it was pretty good, so that’s good news for our retailers; but now those credit cards are overweight. We need to address it—it’s not going to go away by ignoring it. We need to slim down. The first thing you need to do is collect all of your statements. That’s easy to do now that most of them are online. Sit down (either do this with pen and paper or do it with a spreadsheet) and list every account and its balance. List the i
We’re hearing about inflation a lot now. The classic definition is ‘too much money chasing too few goods’. We don’t have inflation right now despite what you’re hearing out there. If you’re shopping, you know that. You know you can get a deal on a house, on a car, on clothing—all of those things are on sale. Now for my older clients, they think we have inflation because they’re not purchasing those things right now. They’re not buying new furniture, new houses, new cars. The