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 Uncovering decades of questionable investments
18.01.2018 | University of Texas at Austin, Texas Advanced Computing Center

nachricht Corporate coworking as a driver of innovation
22.11.2017 | 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: Artificial agent designs quantum experiments

On the way to an intelligent laboratory, physicists from Innsbruck and Vienna present an artificial agent that autonomously designs quantum experiments. In initial experiments, the system has independently (re)discovered experimental techniques that are nowadays standard in modern quantum optical laboratories. This shows how machines could play a more creative role in research in the future.

We carry smartphones in our pockets, the streets are dotted with semi-autonomous cars, but in the research laboratory experiments are still being designed by...

Im Focus: Scientists decipher key principle behind reaction of metalloenzymes

So-called pre-distorted states accelerate photochemical reactions too

What enables electrons to be transferred swiftly, for example during photosynthesis? An interdisciplinary team of researchers has worked out the details of how...

Im Focus: The first precise measurement of a single molecule's effective charge

For the first time, scientists have precisely measured the effective electrical charge of a single molecule in solution. This fundamental insight of an SNSF Professor could also pave the way for future medical diagnostics.

Electrical charge is one of the key properties that allows molecules to interact. Life itself depends on this phenomenon: many biological processes involve...

Im Focus: Paradigm shift in Paris: Encouraging an holistic view of laser machining

At the JEC World Composite Show in Paris in March 2018, the Fraunhofer Institute for Laser Technology ILT will be focusing on the latest trends and innovations in laser machining of composites. Among other things, researchers at the booth shared with the Aachen Center for Integrative Lightweight Production (AZL) will demonstrate how lasers can be used for joining, structuring, cutting and drilling composite materials.

No other industry has attracted as much public attention to composite materials as the automotive industry, which along with the aerospace industry is a driver...

Im Focus: Room-temperature multiferroic thin films and their properties

Scientists at Tokyo Institute of Technology (Tokyo Tech) and Tohoku University have developed high-quality GFO epitaxial films and systematically investigated their ferroelectric and ferromagnetic properties. They also demonstrated the room-temperature magnetocapacitance effects of these GFO thin films.

Multiferroic materials show magnetically driven ferroelectricity. They are attracting increasing attention because of their fascinating properties such as...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

10th International Symposium: “Advanced Battery Power – Kraftwerk Batterie” Münster, 10-11 April 2018

08.01.2018 | Event News

See, understand and experience the work of the future

11.12.2017 | Event News

Innovative strategies to tackle parasitic worms

08.12.2017 | Event News

 
Latest News

Let the good tubes roll

19.01.2018 | Materials Sciences

How cancer metastasis happens: Researchers reveal a key mechanism

19.01.2018 | Health and Medicine

Meteoritic stardust unlocks timing of supernova dust formation

19.01.2018 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>