Emily Shalal
speaker
65 appearances
2 recordings
1 series
first heard Mar 2019
last heard Aug 2019
Emily Shalal’s voice in public audio — every appearance, attributed to the second.
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Appearances
That's right.
So the more you can automate kind of saving and create a recurring plan for yourself, the more you take willpower out of the conversation and the more it just becomes a set it and forget it and you stop thinking about it and stop worrying about it and just know that you have this kind of peace of mind that you're already allocating money towards your long-term savings goals.
That's right.
So we live in a world in which every company is trying to get you to buy into some sort of subscription service, whether that's for your Netflix bills or your recurring music plan or whatever.
you know, an app that you've just tried out and downloaded that may offer you some sort of introductory trial period.
And what we find is a lot of people will sign up for those and stop using them within days of starting it, but forget that they're going to be billed in the next 30 or 60 days for that.
And so it's really important if you can't do it monthly to think about it at least once a quarter to sit down and look at every recurring payment that's coming out of your account to see if it's really driving the benefit that you had anticipated when you signed up for that service.
That's right.
And so, you know, you never want to pay a fee for anything, whether that's paying your bills or a monthly maintenance fee or a low balance fee from your bank account.
You know, a lot of people have been taught about, you know, thinking about interest and this whole notion of compounding money over time.
But no one really sits down and thinks about how much compounded fees cost them over time.
And so it's really important just to sit down, and every time you can look at a fee, whether it's a small $0.50, $1 fee, it adds up over time, and that can make big impacts over the course of a couple of years.
That's right.
I mean, I think that the average...
you know, online savings rate right now is less than, you know, 0.1% for most banks.
And you can search around and find, you know, well north of 2% at this, which is a 2% difference for most consumers.
And so, you know, when you think about 2% over the course of years, you know, there's a lot of calculators that you can look at, but that could be hundreds of thousands of dollars or years off of your retirement and difference.
when you factor in compound interest over time.
So it's really important to always think about what rate means to you.
And I think what we found at Ally through a lot of the studies that we've done is a lot of people will spend more time thinking about where they're going for lunch or spend time looking at product ratings and reviews for the next water bottle that they're gonna buy.
Showing 41–60 of 65 · page 3 of 4
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