Ever wish you just had that extra dollar? Or can go on that dream vacation? Maybe retire just 10 years earlier so you can actually ENJOY your retirement? Here’s the thing about saving money! If you do it correctly you can enjoy ALL of the above and SO MUCH MORE. We spoke with some financial experts to give you some great advice on how to obtain your financial freedom.
Here’s a fun stat to start you off. If you saved $200 per month, put it in the stock market and did this for the last 30 years you’d have $250,000 today. I know 30 years is a long time, but $250,000! That’s more than enough to retire on, and for ONLY $200 per month.
Below you’ll find some great money saving tips and tricks that’ll help you get the money you want while not changing your lifestyle at all…
1. Get the most out of your credit card : Like most of us we use our credit card for everything. Are you getting the most out of it? Did you know there are cards that give 2.2% cash back? That’s 22 for every1,000 you spend. We found this amazing tool made by the ValuePenguin guys that help you figure out the best credit card for you.
2. Always Use Coupons : Most stores, even ones you’ve never heard of have online coupons. Before buying anything online
3. Check your credit card and bank statements every month : Check your credit card and bank statements every month. An estimated 0.5% of credit card charges are entered incorrectly. That means you’re overpaying your bills every month but most people never check! Keep your receipts and make sure that snarky waitress you disliked didn’t type in a much higher tip amount.
4. Never buy tickets at full price, ever : Did you know that last minute tickets on Stubhub.com often come 25% – 30% discounted from their full price. Well now you do
5. Put all your money in savings, not checking : Your checking account at your bank makes NO interest while your savings makes close to 1%. This might not seem like a lot, but over the course of a year, $10,000 in your savings account gives you $100. Remember, it’s all about small steps!
6. Switch to compact fluorescent lightbulbs : The average home light bulb bill is $250 a year. A fluorescent bulb is 75% more efficient than your incandescent bulb. That’s $185 you’d save every year just by moving over!
7. Stay healthy : Did you know that the average spoker spends over $1,500 per year on cigarettes? That’s right — being unhealthy can cost you real money. To top that off, based on the FCHP, the average new patient visit costs $171. You know what’s free? Running. Run everyday, stay healthy, and stop smoking. This can save you over $2,000 a year