STICK DILIGENTLY TO SAVINGS PLAN, BUT PAY OFF DEBT, TOO.Byline: ANN LANDERS Esther "Eppie" Pauline Friedman Lederer, better known as Ann Landers (July 4, 1918 – June 22, 2002), was best known for writing the famous syndicated advice column "Ann Landers." For some 45 years, it was a regular feature in many newspapers across North America. Dear Ann Landers: I am a 29-year-old mother of three young daughters. My husband and I live in a middle-income suburb suburb, a community in an outlying section of a city or, more commonly, a nearby, politically separate municipality with social and economic ties to the central city. In the 20th cent. . Many of our friends and neighbors are struggling, living hand to mouth, buried bur·y tr.v. bur·ied, bur·y·ing, bur·ies 1. To place in the ground: bury a bone. 2. a. To place (a corpse) in a grave, a tomb, or the sea; inter. b. under mountains of debt. In January 1995, my husband and I made a resolution to save money for our children's education. This was going to be a stretch. We decided to take 10 percent out of every paycheck, put it in the bank and live off the rest. We saved a few thousand dollars last year, which was the beginning. This year, we will add to that amount. We are finally starting to feel like we are in control of our lives again. Please tell your readers it's not how much money you make that counts but how much you save. Four years ago, we made twice as much and saved nothing. If we had practiced the simple formula of banking 10 percent of our income four years ago, come rain or shine, we would be in a much stronger financial position today. - Gina in Etiwanda, Calif. Dear Gina: I was just about to give you three cheers when, after the second cheer, it occurred to me that perhaps I had better check with someone who knows more about money than I do. So I phoned Warren Buffett Warren Buffett Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making in Omaha, Neb. Buffett has for several years been cited by Forbes magazine as being near the top of the list of the wealthiest people in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Warren Buffett did not put his stamp of approval on your approach. He pointed out that you are being charged at least 18 percent interest on the cash advances from your credit cards while you are putting money in the bank. Meanwhile, the interest clock keeps ticking ticking a coat color pigmentation pattern in which hairs of one color are distributed in small groups throughout the background color, e.g. Australian cattle dog. Called also speckling. away. Buffett recommends that you put as much money as you can toward your debt and get rid of that financial albatross. |
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