That means reducing frozen/packaged food (which tends to have a lot of sodium) and buying more fresh fruits and vegetables (and eating them rather than throwing them away after a week or two!).Īlso, you should try to get 150 min/week of Zone 4 exercise (heart rate at 80-90% of maximum). You don't need to buy the most expensive food, but you should try to buy the highest quality, healthiest food you can reasonably afford, and form good eating habits right now. Going cheap on clothes is one thing, but going cheap on food is penny wise and pound foolish. It's always easier to prevent a condition from getting worse than to fix something that has progressed to an advanced stage that you wrote off as insignificant.įood especially is an investment in your health that you make every day of your life. So get used to spending a certain amount of money each year on regular checkups, even if you don't feel like you really need them. Being young makes you especially blind to it if you aren't already suffering from a disease. The most valuable thing to you is actually your health, but often times we don't learn this until we lose it. It's also tempting to buy cheap food that happens to be unhealthy. When you are used to living on a low income, it is very easy to skip regular doctor visits for eye exams, dental, vaccines, etc. But you asked what to spend the money on first, and my answer is that the first priority after necessities and basically pleasant lifestyle should be to save now, and defer larger discretionary spending until you've got that basic structure in place. Lots of other good financial advice for folks new to the work world is available in other questions here. And if you get in the habit of having the money taken out of your paycheck before you see the cash, you may find that you don't actually miss it the after-retirement-savings income becomes the amount that you tune your lifestyle to, just as with health insurance and tax withholding.īut I agree that first priority is to build up enough non-retirement reserves that you can survive being out of work for half a year to a year if something weird happens to your job. But it is very much worth doing as much as you can manage, as soon as you can manage it. Putting aside that much in your first few years may be tough you're still setting yourself up as an independent adult. That's guaranteed free money you really want to claim as much of it as you can. This is further magnified if your company offers any kind of match on retirement savings. Putting $2000/year into your retirement fund for your first 10 years of employment can actually do more good for you than putting $2000/year into the retirement fund for the next 30 years. Powerball.Compound interest is an amazing thing. " Publication 939, General Rule for Pensions and Annuities,". " Publication 559, Survivors, Executors, and Administrators,". " Long-Run Effects of Lottery Wealth on Psychological Well-Being." " What Percentage of Lottery Winnings Would be Withheld in Your State?" " One Billion Dollars for Mega Millions." " What Is a Blind Trust and How Does It Work for Lottery Winners?" " State Lotteries: Regressive Taxes In Disguise." " Who Plays the Lottery, and Why: Updated Collection of Research." Harvard Kennedy School, The Journalist's Resource. North American Association of State and Provincial Lotteries. " Gambling in Texas: 1995 Surveys of Adult and Adolescent Gambling Behavior,". " New Vintage 2021 Population Estimates Available for the Nation, States and Puerto Rico."Įducation Resources Information Center. " 2021 Annual Survey of State Government Finances Tables," Download "Income and Apportionment of State-Administered Lottery Funds: 2021. " Mega Millions Odds."ĭurango Bill's Applied Mathematics. Lottery Jackpots Ever Won?"ĭurango Bill's Applied Mathematics. " How Mega Millions Changed the Odds to Create a Record-Breaking $1.6 Billion Jackpot."Īssociated Press. " How Powerball Manipulated the Odds to Create a $1.5 Billion Jackpot." " Home Page," Select "View prizes and odds chart." and World Population Clock," Select "Annual Population Estimates: Most Populous: States." " Biggest Stadium in the World: Venues in North Korea, India and the US in Top Three - Full List."
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