7 tips to savings bliss
We’re falling behind on savings and need to catch up; here’s how
Jennifer's Waters column in MarketWatch.com Consumer Confidential lists 7 tips to save money.
Here are some of the highlights:
- Don’t purchase expensive items on impulse. That certainly prevents buyer’s remorse but also, by imposing a 24-hour wait period, you save yourself from deeper financial woes.
- Consider this little trick for breaking yourself of reckless spending on indulgences: For every pricey cup of coffee, slice of cake, glass of wine or pack of cigarettes you buy, put an amount matching that cost into a cookie jar or under your mattress. If you can’t afford to save the matching amount, maybe you can’t afford that indulgence.
- Save your loose change. Really, it’s a good idea. Fifty cents a day will net you $182.50 at the end of the year, and $1 a day gives you $365 you would not have otherwise.
To further stretch out that last point, in 10 years that $1 a day would be $3,650 and 20 years $7,300. That's not too shabby considering interest isn't even factored in!
To read the rest of the article:
Quote of the Day from Dave Ramsey.com:
The best years of your life are the ones in which you decide your problems are your own. You don't blame them on your mother, the ecology, or the President. You realize that you control your own destiny. — Albert Ellis
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