Financial mistakes anyone can avoid

Earnings go a long way toward determining an individual’s financial security. However, high wages do not guarantee longterm financial security any more than lower wages ensure a future marked by a lack of financial flexibility. Individuals are a unique variable in any financial equation, and those who can exercise and maintain some fiscal discipline are more likely to secure long-term security than those who cannot.

One way anyone can improve their chances at a secure and flexible financial future is to identify and avoid some common mistakes. Avoiding the following mistakes can increase the chances individuals at various income levels enjoy a secure financial future.

• Delay saving for retirement: Conventional wisdom says it’s never too early to begin saving for retirement. Despite that, surveys indicate many adults are behind on saving. A 2022 survey from Bankrate found that 55 percent of respondents indicated they were behind on their retirement savings, while 35 percent reported being “significantly behind.” Though laws governing retirement contributions have made it easier for people to catch up, it’s still better to begin saving once you enter the professional arena, which for most people is some time in their early to mid-twenties. The longer you delay saving for retirement, the more precarious your financial future becomes.

• Spending beyond your means: The post-pandemic increase in cost-of-living has garnered considerable attention in recent years, when inflation has driven up the cost of just about everything. There’s little consumers can do about the rising cost of living, but making a concerted effort to curtail spending is one way to combat the spike. However, surveys indicate many people earning significant salaries are living paycheck-to-paycheck. For example, a 2021 report from LendingClub Corporation found that nearly 40 percent of individuals with annual incomes greater than $100,000 live paycheck to paycheck, with 12 percent reporting they are struggling to pay their bills. An assortment of variables undoubtedly contribute to that stark reality, and one might be a tendency for consumers to spend beyond their means. Individuals who are struggling to curtail their spending are urged to seek the help of a certified financial planner who can help them devise a budget and alleviate some of the stress and pressure associated with overspending or living paycheck to paycheck.

• Poor use of credit: Credit cards can be a financial safety blanket, but that blanket can soon smother consumers who don’t know how and when to utilize credit. Reserve credit cards for emergency situations and resist the temptation to use them for daily expenses, such as groceries and gas. Credit card interest rates tend to be in the double digits, so unless card holders can pay their balances in full each month, they’re only exacerbating the already high cost of living by using credit for daily expenses.

• Buying too much house: Overspending on housing is another financial mistake, and arguably the one that’s the most difficult to avoid. It can be hard to walk away from a dream home, but such a decision could secure your financial future. Unfortunately, data indicates far too many individuals are spending more on housing than conventional financial wisdom recommends. The most recent Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics found that spending on housing accounted for 33 percent of the average household’s monthly expenses and that the average household spent 88 percent of its after-tax income each month. That latter figure is especially troubling, as conventional financial wisdom recommends a saving rate of 20 percent. Overspending on housing greatly affects a person’s ability to save and invest, so resisting the temptation to buy that expensive dream home could be the difference between a secure or scary financial future.

Avoiding some common mistakes can help individuals be more financially flexible and secure over the long haul.

Q: Is the acclaimed series “Homicide” available to stream anywhere? I’ve looked on all the major ones like Netflix and Amazon and can’t find it. -- K.S.

A: NBC’s “Homicide: Life on the Street” isn’t available to stream yet, but according to an article on TVLine.com, that could change soon. The series aired in the 1990s and starred Yaphet Kotto, Richard Belzer, Melissa Leo and Andre Braugher. Braugher recently passed away at the age of 61 after battling lung cancer. His untimely death has fans inquiring why “Homicide,” the show that launched his career, isn’t available to stream anywhere.

In addition to its incredible acting, “Homicide” was known for its dramatic montages set to music. Securing the rights to air these songs, instead of dubbing them in with other music, has been a huge goal of NBC and Universal. It’ll be well worth the wait once the show can be seen and heard as it originally aired.

***

Q: Why isn’t the actor who played Niles in the new “Frasier” reboot? Is he going to show up anytime soon? -- K.J.

A: Unfortunately, the new “Frasier” series, which is streaming exclusively on Paramount+, is missing a few memorable supporting characters. Kelsey Grammer is, of course, reprising his iconic comedy character of Frasier Crane, which he originated on “Cheers” before the character moved to Seattle and got his own series. But there’s no Niles, Martin or Daphne.

Sadly, John Mahoney passed away from throat cancer in 2018. David Hyde Pierce and Jane Leeves are both alive and well, but their characters, Niles and Daphne, are not

a part of the new cast. Pierce recently told the Los Angeles Times that he had several other projects in the works and that he “never really wanted to go back” to “Frasier.” He further explained that he “loved every moment” of doing the original series, but that he wanted to do other things.

Those things include co-starring in the lovely HBO series “Julia,” where he plays famed chef Julia Child’s husband, Paul, opposite Sarah Lancashire’s titular character. He’s also starring in Stephen Sondheim’s new Off-Broadway musical “Here We Are.”

If Frasier gets renewed for another season, perhaps Pierce and Leeves will pop in for a guest appearance like Bebe Neuwirth (Lilith) and Peri Gilpin (Roz) did this year.

***

Q: I’m enjoying the new series about Cary Grant. Jason Isaacs, the actor who plays him when he’s older, looks so much like him. Is he related to Oscar Isaac? -- W.W.

A: No, they’re not related. Their last names differ by one letter. Jason Isaacs is also a Brit, while Oscar Isaac (of “Star Wars” fame) grew up in Miami.

Blue-eyed Isaacs is sporting what look to be brown contact lenses and black frames to play Cary Grant in the limited series “Archie,” which you can stream on BritBox. The show gets its title from Grant’s birth name, Archibald Alec Leach. It chronicles his life in Hollywood, where he meets and marries actress Dyan Cannon (“Heaven Can Wait”).

You might recognize Isaacs from his other credits, including Lucius Malfoy from the “Harry Potter” movies, Colin Ayres from “The West Wing” and Capt. Lorca in “Star Trek: Discovery.”

Send me your questions at NewCelebrityExtra@gmail.com, or write me at KFWS, 628 Virginia Drive, Orlando, FL 32803.

1. U.S. Olympian Jackie JoynerKersee won three gold medals competing in what two track and field events?

2. In the late 1980s, Hasbro included an action figure of what NFL player in their G.I. Joe toy line?

3. Broadcaster Lindsey Nelson became known as “Mr. New Year’s Day” for his 26 years calling what college football event for CBS?

4. What is the nickname for the Miami University of Ohio’s athletic teams?

5. What NASCAR team owner got into a physical altercation with driver Kyle Busch following a Truck Series race in June 2011?

6. Defensive lineman Otis Sistrunk played his entire NFL career from 1972-78 with what team?

7. Princess Anne, the only daughter of England’s Queen Elizabeth II, was married to what Olympic gold-medal winning equestrian athlete from 1973-92?

Answers

1. The heptathlon and long jump.

2. William “The Refrigerator” Perry.

3. The Cotton Bowl Classic.

4. The RedHawks.

5. Richard Childress.

6. The Oakland Raiders.

7. Mark Phillips.

(c) 2023 King Features Syndicate, Inc.