Still think that you cannot save enough money to open your own business? Here are some more tips for helping you save hundreds of dollars on a monthly basis.
Get a library card and instead of paying for books and DVDS take them out of the library. It’s free.
Make your own lunch every day. Brown bagging your lunch is what many millionaires do instead of spending money at a cafeteria.
Are you always struggling financially? Have you ever sat down and asked yourself why? Sometimes the answer is very simple, like paying off a huge cable bill. Sometimes making just one change in life, like quitting smoking, can save you hundreds of dollars a month. Quitting alcohol can save you thousands in some cases.
Keep a change jar. It sounds simple but those nickels and dimes can really add up. Keeping change in one place rather than scattered all over the house adds up to a large sum. Make sure you take this change to the bank where it can earn interest in the bank.
Ask if your bank has a “Keep the Change Program” where any debit purchase allows you to keep the change of a purchase up to the next dollar.
Keep track of your casual spending. For most people, this amounts to about thirty dollars a day. If you can save 27 dollars a day by cutting back on take out coffee, bottles of wine and other little treats you will have $10,000 in one year.
Take a few hours and familiarize yourself with the way that compound interest really works. Figure out how it is working against you in life and how it is working for you.
Consider opening a ROTH account. This is a high interest account that is not tax deductible but you do not suffer as many taxes and penalties like you do if you withdraw from a regular IRA.
Arrange for an automatic deposit of your paycheck and then have the bank automatically withdraw money into a savings account for you. If you don’t see this money then you can’t spend it.
Keep this in mind. There is always something you can do to make extra cash. Take time out for assess your skills and usually the answer as to how you can make extra money will come to you. Sometimes you can make a great deal of money working online at home.