Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Summer Is Not a Vacation from Your Budget

16.06.2011
It’s summer, and the rules are off, right? Ice cream for dinner! Late bedtimes! Expensive vacations!
Think again.
“Your budget shouldn’t change because it’s summer. Your expenses will differ from the school year, but your budget is like your waistline — you do not want it to expand,” says Stephanie Rauterkus, Ph.D., assistant professor of finance in the School of Business at the University of Alabama at Birmingham.

Rauterkus, who writes the blog 365 Days on a Budget, says your budget should look similar to this:

50 percent for needs

... more about:
»Budget »Expensive vacations »Summer »vacation

30 percent for wants

20 percent saved

In the battle of needs versus wants, Rauterkus says, “Ask yourself, ‘will my family survive without this?’ And be honest. A new pair of shoes is a need only if you don’t have any shoes.”

Wants are everybody’s favorite. You have nearly a third of your pay for this. Splurge within your budget, she says.

For big expenses like vacation, camp or home improvements, ask your bank to create a summer account, like a Christmas club. Treat this extra cash like sunscreen: spread it around as much as you can without getting burned – and when it runs out, stay inside.

Kevin Storr | Newswise Science News
Further information:
http://www.uab.edu

Further reports about: Budget Expensive vacations Summer vacation

More articles from Business and Finance:

nachricht Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Salmonella as a tumour medication

HZI researchers developed a bacterial strain that can be used in cancer therapy

Salmonellae are dangerous pathogens that enter the body via contaminated food and can cause severe infections. But these bacteria are also known to target...

Im Focus: Neutron star merger directly observed for the first time

University of Maryland researchers contribute to historic detection of gravitational waves and light created by event

On August 17, 2017, at 12:41:04 UTC, scientists made the first direct observation of a merger between two neutron stars--the dense, collapsed cores that remain...

Im Focus: Breaking: the first light from two neutron stars merging

Seven new papers describe the first-ever detection of light from a gravitational wave source. The event, caused by two neutron stars colliding and merging together, was dubbed GW170817 because it sent ripples through space-time that reached Earth on 2017 August 17. Around the world, hundreds of excited astronomers mobilized quickly and were able to observe the event using numerous telescopes, providing a wealth of new data.

Previous detections of gravitational waves have all involved the merger of two black holes, a feat that won the 2017 Nobel Prize in Physics earlier this month....

Im Focus: Smart sensors for efficient processes

Material defects in end products can quickly result in failures in many areas of industry, and have a massive impact on the safe use of their products. This is why, in the field of quality assurance, intelligent, nondestructive sensor systems play a key role. They allow testing components and parts in a rapid and cost-efficient manner without destroying the actual product or changing its surface. Experts from the Fraunhofer IZFP in Saarbrücken will be presenting two exhibits at the Blechexpo in Stuttgart from 7–10 November 2017 that allow fast, reliable, and automated characterization of materials and detection of defects (Hall 5, Booth 5306).

When quality testing uses time-consuming destructive test methods, it can result in enormous costs due to damaging or destroying the products. And given that...

Im Focus: Cold molecules on collision course

Using a new cooling technique MPQ scientists succeed at observing collisions in a dense beam of cold and slow dipolar molecules.

How do chemical reactions proceed at extremely low temperatures? The answer requires the investigation of molecular samples that are cold, dense, and slow at...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

3rd Symposium on Driving Simulation

23.10.2017 | Event News

ASEAN Member States discuss the future role of renewable energy

17.10.2017 | Event News

World Health Summit 2017: International experts set the course for the future of Global Health

10.10.2017 | Event News

 
Latest News

Flying: Efficiency thanks to Lightweight Air Nozzles

23.10.2017 | Materials Sciences

Salmonella as a tumour medication

23.10.2017 | Life Sciences

50th Anniversary at JULABO GmbH

23.10.2017 | Press release

VideoLinks
B2B-VideoLinks
More VideoLinks >>>