Just about everyone is feeling the pain of our troubled economy. The extreme manifestations make headlines - suicides and murders that are somehow tied to financial problems. For most people, there's just a nagging sense of financial anxiety. An ABC News article mentioned a new U.S. Department of Health and Human Services web site
dedicated to helping people cope with our tough times. The article also recommended a U.S. Department of Labor site
designed to help those who have lost their job.
Matt's View
One of the best ways of dealing with financial trouble is talking with someone about what you're going through. I once asked the head of benevolence at a large church what was the main reason why people came to his ministry for help. I expected him to say "unemployment" or "credit card debt." Instead, he said, "isolation." He explained that many people simply try to deal with their financial problems on their own - they either don't have close friends or they're hesitant to talk about their financial problems with other people.
If you're in a small group Bible study, encourage your group to go through a financial study. The people in your group may seem like they're doing just fine, but you'll probably be surprised at the issues that come to the surface once they have the opportunity to talk about money with trusted friends. I wrote a discussion guide
specifically designed to foster conversations about this tough topic.
The Internet is filled with lots of good web sites about money. But which ones are worth a visit? One of the web's best personal finance journalists, MSN's Liz Pulliam Weston, recently named her 100 favorites
. That may sound overwhelming, but she has them organized by subject.
Matt's View
Just in case 100 sites aren't enough, here are a few more to bookmark. Instead of calling a repairperson, try some home improvement projects yourself with the help of This Old House
. Take free courses from universities around the world via the Open Courseware Consortium
. And support a favorite charity by doing Internet searches with GoodSearch
.
What are some of your favorite money-related sites? Please send me a note
and let me know.
Organic food may seem like a splurge right now, but when it comes to our health spending less may ultimately cost more. A short piece on Consumer Reports recently reported on five ways to save
on organics. In addition to the obvious suggestion to buy store brand organics, the article included links to organic food manufacturer coupons, a food co-op directory, and a table showing when various fruits and vegetables are in season.
Matt's View
A few years ago, Consumer Reports also put together this helpful report
showing its recommendations for which foods are worth the added cost of buying the organic versions.
Our economy has left very few people feeling confident about retirement. Just 13 percent of current workers say they are "very confident" about having enough money to live comfortably throughout their retirement years, according to the latest annual retirement study from the Employee Benefit Research Institute (EBRI). That's the lowest level since the organization began surveying workers on the topic in 1993.
Matt's View
The survey also noted that 65 percent of current workers are saving for their retirement. That's up slightly from last year and it's the highest percentage ever found on an EBRI study. Still, it sure seems low. One step that helps people get in the game of saving for their later years is crunching some numbers to see how much they should be setting aside each month. My favorite retirement needs calculator is the myPlan Snapshot from Fidelity
(search for "myPlan Snapshot"). By answering just five questions you'll see whether you're on the right track.
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