Small savings go a long way…
You know, in all my years, I have yet to meet someone who would freely admit that they have too much money. In today’s world, where social security is going down the drain and jobs are going out of the country faster than you can blink, saving those extra pennies from day to day can really add up.
Long terms goals are described as goals that have a lasting effect should a person’s present actions be religiously maintained.
The following statements are outlined to provide information and tips on how you can start up your money-saving gimmicks and ensure a happy and financially stable future and list the reasons as to why saving money should occupy a greater place in our list of priorities in life.
To really get the most out of what you can save from your expenses, think about what you buy on a weekly, monthly, and yearly basis. If you haven’t already practiced cutting your expenses, you might be surprised how much you can save.
Let’s think in terms of last months spending. If you carry a small notebook for a month where you write all the expenses you incurred, the following month you will be able to identify where you might have spent less and saved more.
Figure out what 3% of your gross paycheck would be, and set that money aside every time you get paid. If you have the discipline to keep it in your checking account, go right ahead and do that, but for most people, the only way to be sure that you don’t spend it is to make a withdrawal, and hide the cash in an envelope. Eventually, once you get a substantial amount, you can create your own savings account, which will considerably lessen the temptation to spend.
Once you get used to living by spending only 97% of what you make, it’s time to take the next step, save 10% and spend 90%. Keep on going until you can’t afford to save any more. Within two or three months, you should have a nice little stash.
The following are some proven ways of cutting down expenses and saving money:
Cut down on long distance calls or make calls when the rates are cheapest. Cut down on restaurant and take-out meals, as well as costly prepared foods from the supermarket. Preparing your own food from scratch saves lots of money. Try to reduce your home-utility bills by turning off lights when you’re out of the room. Soda can cost you as much as $2 these days. Water is free. Need I say more?