Save a little today and earn a lot tomorrow! Unlock the future of investing with these simple tips.
One of the downsides of today’s debt-fueled investment market is a lack of saving acumen among the general population. With just a few minor, almost unnoticeable changes to your everyday lifestyle, you could save hundreds of dollars, that when invested wisely, could lead to tremendous returns tomorrow.
HABITUAL DAILY SPENDING
By simply reducing the amount of daily expenditures on “habit items” like coffee twice a day, buying lunch or snacks instead of packing it or drinks with friends just once a week, the average person can save an estimated $150 per week.
Today’s households spend thousands per year on impulse buys of technology, self-care products, fashion, make-up, weekly food purchases and children’s items. While no one should deny themselves or their family the things they need, merely planning these expenditures on a monthly basis can help you save over $500 per month.
ANALYZE & MINIMIZE NECESSARY SPENDING
Bank fees, late fees, cell phone bills, credit cards, utility bill excesses and mortgage interest improprieties. Today’s households are leaking hundreds of dollars per week in “fees” paid because people aren't paying close enough attention or have become numb to these ﬁnancial drains. Organize a clear weekly analysis of what you are spending and why it is being charged, and if it is really necessary. You could save over $100 per week on ﬁnancial inefﬁciencies in the average household’s annual budget.
It is easy to see how much investment potential is lost through mismanagement of savings and household ﬁnancial knowledge. The most beneﬁcial tool for today’s average family is to create an annual budget and pre-plan all required expenses. You will ﬁnd over time the adhering to your plan is simple and the tremendous savings can easily be channelled into long-term investments that will allow you to enjoy ﬁnancial freedom and security.