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Sep13
Save $100 Per Month

Stacey L. Bradford of The Wall Street Journal wrote an article published on 10 September 2006 titled, "You Can Save $100 a Month, No Sweat."  She gives 18 ways you can cut expenses so you can save the money.  Remember, saving $100 per month from age 25 to 65 at an 8.0% rate will amount to almost $350,000.  So it is worth doing.

Most of Ms Bradford's suggestions would save $5 to $10 per month.  I refer to her article for all of the ideas.  Her top 5 ideas follow:

  1. Bring lunch from home.  Save $120/month versus deli sandwiches.
  2. Leave the SUV at home. Save $36/month versus the driving the family sedan.
  3. Cancel your phone land line and save $34.95/month.
  4. Rent your flick and watch it at home. Save $30/month.
  5. Use internet discounts and coupons when you dine out for $15 savings per meal.

 

I can think of many other ways to save a few more dollars per month.

  • Buy your premium coffee at McDonald's instead of Starbucks and save $0.60 a cup.
  • Cut out sodas and vending machine snacks to save $1.50 or more per day.
  • Eat out less and at home more for big savings.

What are some of your ideas?  Are you willing to actually do any of these things?  Would you rather consume even these small things today rather than live better tomorrow?  Post your answers.


2 Comments/Trackbacks




save water,use natural things like: medicenes,

Forego all coffee, sodas, and snacks to save even more. (The water you save is probably no more natural or untreated with chemicals than are the many synthetic medicines developed by the ethical scientific community to heal, treat, or prevent disease and other human ailments. That is not to suggest or imply they should either be avoided or squandered, however, in the case of pure mountain spring water, nor should they be advocated or accepted, in the case of illegal street narcotics).

Make a conscious decision to pay yourself a minimum set amount of your earnings, on a regular consistent basis, every time you are paid, and deposit those funds into and interest-bearing savings account, illiquid fund, or long-term growth-oriented investment which will appreciate over time. Train yourself to exercise the self-discipline to save money as a life-long goal. Make the financial commitment to save a meaningful amount of your earnings worth your while, over an extended period of time. Avoid the temptation to "skip" a payment to yourself, or to "blow it" on a hot date. Given enough time, you'll probably be amazed how little you've actually saved, but pleased you have established the practice of good fiscal habits.

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