If you ask ten non-investors why they are not saving for the future, chances are most of them will claim they do not have the money to invest. While it is true that after the monthly bills are paid it can be difficult to find the money to save and invest, chances are that by looking around you can shake loose at least a few dollars, and even a little bit of money invested over a long time can add up to a substantial nest egg.
There are many little ways to cut back and end up saving a substantial amount of money. This article covers only a few of those ways, but chances are you will be able to think of a great many others as well.
Let’s start with that most important of all rituals – the morning cup of coffee. In these days of $3 and $4 cups of gourmet coffee, the money spent on this morning ritual is no longer insignificant. If you resolve to make your coffee at home at least two or three days a week, you can save yourself a considerable amount of money.
Another painless way to shake loose some extra money is to start a change jar. While it may seem old fashioned, a change jar can provide a great deal of money in a year’s time. Every time you make a cash purchase, place the change in a separate pocket or change purse, then transfer that change to the change jar when you get home. Even if you think you do not have the money to spare, you may be surprised at just how quickly that change jar fills up, and just how painless those savings can be.
Cutting the interest rate on your credit cards is another great way to recover extra money. While the ultimate goal of course is to retire those credit card debts altogether, in the meantime getting credit cards with lower interest rates can save you a lot of money on monthly payment.
It may not even be necessary to change credit cards to get a lower rate. Credit card companies are reluctant to lose good customers, and they often will offer you a lower interest rate to keep you from bolting to another card.
These ideas are just a starting point. Chances are you will be able to find lots of unique and interesting ways to get the money you thought you did not have to spare.
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