Archive for the Category ◊ Tips and Tricks ◊

Do you have 401K? Haven’t looked at it lately? You should!

Wednesday, July 14th, 2010

A quarter of U.S. employers aren’t able to keep up with the expense of matching employees’ 401(k) contributions, according to the results of a new Charles Schwab survey (“Employers Cutting Back 401(k) Plans, Study Shows,” Reuters, June 22, 2009).

401(k) plans allow workers to defer taxes on part of their income and invest that money in stock and bond mutual funds. Large companies like the ones surveyed by Charles Schwab, ranging in revenues from $100 million to more than $10 million, often match employees’ 401(k) investment contributions.

The constricted economy, however, has forced 23 percent of companies to stop offering 401(k) match opportunities, although many of the companies say this move will be temporary.

“They don’t see that as a long-term approach,” said Steve Anderson, head of Retirement Plan Services at Charles Schwab.

Workers with 401(k) plans, whose savings have taken a huge hit recently, typically pay close attention to their company’s matching program. In fact, 87 percent of employees polled identified 401(k) match as the most important feature of their company’s 401(k) plan. The second most important feature was access to advice on 401(k) investing.

The online survey also found that a quarter of companies are no longer offering open enrollment for 401(k) savings plans, limiting enrollment to certain employees.

Using your 401(k) to pay off bills or get out of debt? Call Debt Burst today to see how we can help you at 800.656.6204 or visit us at

Author: Janeane

Build Your Spending Plan today and Save!

Thursday, July 01st, 2010

While it may sound restricting and unpleasant, following a spending plan will allow you more freedom to fulfill long-term goals like purchasing a house, paying off debt or building a savings. You say “Budgeting is too complicated” or “It takes too much time” – that is not necessarily true. To see how much you can be saving, use our budget calculator located on our tools and resources page. The rewards of implementing a Spending Plan tremendously outweigh any time you will spend creating it. And the longer you wait, the longer you deny yourself the sense of well being that results from being in control of your finances.

 A Spending Plan will help you:

  • Create the awareness of the direction you are going in.
  • Control your money instead of your money controlling you.
  • Meet savings goals.
  • Limit spending on things you don’t need so you will have money for things you do need.
  • Enable your family to achieve common goals.
  • Be prepared for emergencies.
  • Improve your marriage with fewer arguments about money.
  • Define areas where you were over-spending.
  • Get out of debt or stay out of debt.
  • Attain peace of mind knowing you will be able to make ends meet and more!

Contact Debt Burst today to for a free consultation on how you can save money and create your own spending plan. Call us at 800.656.6204 or visit us at

Author: Janeane