Savings Where You Never Imagined

Investments are a great way to increase financial gains; with this being said, some people do not want to take the risk. With the stock market, or other investments, you run the risk of loss; so, you want to know how you can go about growing, increasing financial gain, and not having to deal with the risk of loss? You do have options. These are a few things you should consider, when you are trying to save, want your money to grow, and want to set aside a nice nest-egg for when you do retire, without going through risks.

52-week challenge

This is an online challenge on a financial website, which is free to do, and if you do it properly, you can save up to $14K in one year. That is quite a bit of money. You simply have to re-establish yourself and your spending habits. You are going to have to cut back, save more, find ways to cut out expenses you don’t have to accumulate and make a few changes to your lifestyle. Doing this is a simple way to save; and, think about it, in ten years, that is nearly $150K. And, with the inflation rates, this can mean even more in savings.

So, take a step back, and start to see where you can cut back. You will be surprised to learn just how many ways you are foolishly spending money, are spending where you do not have to and are giving away your money. This 52-week challenge is not only a way for you to reassess how you think about and spend your money, it is also a great way for you to challenge yourself to save more, to spend less, and to live with the essentials you need, and not do with the luxuries you have grown accustomed to for some time.

Change Jar

Do you have any idea how much you can save if you throw your change into a jar? Even if you spend $1 and get $0.10 back, this adds up over time. In fact, it can equate to hundreds, if not thousands of dollars at the end of the year. We simply do not keep change often enough, or we just give it away. Why would you do this with your money? Set up a change jar in the home instead. You and anyone in the home who spend money, and bring home change, will simply add it to the jar. Over time you are going to see how full the jar gets; in fact, after a month, you will be surprised to find there may be over a couple hundred dollars in the jar, depending on how much you and the family spend, and how many people are in the home. You might think it is not a big deal, but when you start counting up the coins, you are going to find that it is quite a bit of money you are spending, where you could otherwise be saving in the home.

No, spend challenge

You know that morning cup of coffee? Well, that is $2 you will stop spending for some time now. How about those jeans you bought, that you really did not need? You know there are so many ways in our lives that we can cut back, and simply refuse to do so. Not only does this make it harder for us to save and to plan for a healthy financial future, it also makes it harder for us to have the things we want now in life because we are spending aimlessly.

If you step back and think about where your money goes, you are going to find that plenty of the spending you are doing is quite wasteful. If you make a challenge for yourself, and for your family, to find ways in which you cut back, it will go a long way. So, rather than buy that coffee every day, cut back to the weekdays when you go to work, and don’t spend on the weekends. Even if you do begin small, and only start to cut back in a few places, you are going to see just how much you can save. And, when you see how you are spending foolishly, and where else it is that you can cut back on the spending, you are going to want to do so. This is a great way to push yourself, to see where you can cut back, and to find new ways to address your budget concerns. And, it is also going to mean you can plan and put more aside for your future and can begin to do more planning for your retirement starting now.

Spending time

Cut your spending time in half; what does this mean? Basically, cut back the amount of time you are spending money in half. It really is that simple. If you see how much you spend, and do so during the day, you will find you are throwing money away. So, rather than spend all day, cut off to 5 PM; any time after that, you can’t spend money. Or, make different rules to the spending time limits you allot to yourself. You are going to learn about poor money management, spending habits, and you are going to reassess the things you are buying, versus those you really should not be spending money on.

You might find that taking risks with money is something you don’t want to do, but that does not mean you can’t cut back, avoid spending, and really save money, when you rethink the ways in which you can save. These are a few of the simple things you can do in your household. Not only will it result in more money (right now), it will also allow you to rethink your budget, so that you can find easy ways to save, and cut back on spending when you really should not be spending money on foolish purchases that you are making.