Strome Business Minute With Dr. Jeff Tanner

I’m Jeff Tanner, Dean of the Strome College of Business at Old Dominion University and this is a Strome Business Minute. Regrets, I’ve had a few, but I’m no Frank Sinatra. In a recent study, three out of four said they have at least one financial regret. No surprise, most of those with a regret said it wasn’t saving enough, and number one on the list is that they didn’t start saving for retirement soon enough, followed by those who just don’t maintain an emergency fund. Third among the saving regrets was not saving enough for college. The reason people don’t save enough is pretty simple – they spend too much. But many spend too much because they don’t know what the right amount is to spend, such as no more than twenty-eight percent to ALL housing expenses and no more than thirty-six percent toward all obligations. To find out more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.