When you attempt to save money by eating out less, bringing your own coffee to work, etc. make sure that you are putting that money you are savings towards something that will accomplish long term results for you. For example, if you cut out your daily Starbucks run and end up saving $120 per month, direct that $120 each month into your retirement savings account or pop it onto your mortgage payment. By doing so you will be enjoying the effects of compound interest in your retirement account or you will be greatly reducing your interest costs on your mortgage resulting in paying off your house much more quickly. By making your savings work harder for you, you will greatly impact your financial future.
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