Be Wise with your money starting now!
Where is your money going? Yes, we know that you have probably read all those articles of just cutting out that cup of coffee at Starbucks, or the big fountain drink at the gas station. But, for most of us that might last maybe the first week of the new year, but rely does not last nor have much of an effect on your savings.
So why not take a look at a bigger look at things. Just like anything along with saving money, it takes hard work, discipline, and more hard work. So let's start of with taking a look at what kind of cars or vehicles do you have or are you driving in your family?
Consider the fact that once you purchase any new car and drive it off the lot it's going to start depreciating right away. Meaning if you purchase a 2007 car at $30,000, you will never get that amount back when you sell or trade it in. But, you will get a nice car. But, let's take a closer look at this. Why not look into different options in cars. Sometimes Just giving up leather seats, sunroof, and a few horse power could save you up to $10,000, and now that's a lot of cups of coffee or fountain drinks!
We estimate if you drive less expesive cars saving say $10,000, in a life time you could save well over $150,000 in YOUR LIFETIME!!
How about this one for saving more money. Plan and send your children to public schools and universities. We know that some are really wanting to send their youngsters to Yale or Harvard, but you look into sending them to State schools. The stats don't lie either stating that students with similar academic abilities earn the same whether they attend top schools or less selective ones.
Also looking taking vacations in the offseason or taking a trip to South American or Canada instead of Europe. This kind of vacations can save you well over $1,000 per vacation.
After checking out your vacation spots, than take a long hard look at your house and what you really need. Just some things to really think about helping you save and being wise with where you put your money.
The success of strategies like this will obviously depend on what you want to do with the all the extra savings! One simple way of doing this is estimate how much money you could save in a year off of this stragety and the increase your 401(k) or even better automatic IRA contributions by that amount. We really like this idea that automatically forces you to start saving each month.