TAG | save money
You can make money and also keep some in the bank by doing different things. One important thing to do is to figure out what it is that you can do without. If you have a car or SUV that eats gas, you can sell it and purchase one that is more efficient. Talk to people you know about what they do to save money, and stop going out places that end up being expensive, and instead, stay home and find something to do.
Having extra money is another step in the process. It is important to have other sources of income well before you plan to retire. If there is something you enjoy doing, see if you can turn it into a way to produce income. If there is something you do often for others, that people seem to enjoy, start charging for it. You can begin to put extra money in your pocket, if you pick something you are good at and start capitalizing on it.
Have you sat down and really thought about your financial future? I know people are busy these days and you think “well I’m young now and I’ll have time to do it later.” You’re dead wrong. You are NEVER too young to start saving for retirement! They say if a 25 year old puts in $2.00 a day into a savings account ($60.00 a month), buy the time he reaches 65 he’ll have a million dollars. However, what is a million dollars these days – really? It’s practically chump change with rising housing and cost of living expenses. So you have to make a budget to save for the future. Don’t expect Social Security to kick in, they’re having problems already – much less when you get to be that age!
Here are some strategies to help you save for the future and your retirement:
- Make a list of your monthly income. Include everything from your wages to gambling winnings, child support receive, alimony, and any other income you get every month.
- Then make a list of your expenses. List everything you spend from your utilities to your cell phone bill. Also your child’s violin lessons, pet expenses – everything. (more…)
