M. A. Carey wrote: Long story short, we need to get back into saving up for things that we need, such as a used truck, emergency savings, medical, and other assortments.
James Freyr wrote:My wife puts a five dollar bill in a jar once a week, as one of her ways to save. Something I do that I guess could be passive saving, is I try to pay for as much as I can with cash, and the change goes in a jar at the end of the day. I have many coin jars, and after a few years when they're all full, I take them to my bank where they have a coin counting machine with no fee since I have a checking account with them. It's fun, cause the last time I took my jars to the bank, I had a little over $700 which was a nice bonus that I didn't "have" the day before.
Another way that I guess could be considered saving, is this year I've really been conscious of what I buy. Standing in the grocery store for example, I'll see something, think "man that sounds good. wait!! do I really need it? no." and I don't buy it. That, and also taking the time to shop for the lowest price. Since actively practicing this, I really notice how much I don't buy. That started with my attempt to be less of a consumer, and I've really come to like not buying stuff. It's almost a game now.
Jarret Hynd wrote:
Grocery bills are usually the best place to start, though I don't want to turn this topic into that subject as there are 100's of sites on the web for it. But you know: the whole save up to buy in bulk = more saving to buy more bulk etc. Food is something you always need, so this is very low risk and worthwhile. As a tip, see how much water you are buying with your purchases when at the store. You can make 3-4x more tomato sauce from the same sized can of tomato paste - something I learned quickly out of highschool.
Todd Parr wrote:I strongly recommend that, if at all possible, you make an automatic withdrawal from your paycheck (assuming of course you get one) and put it in a good, low-load mutual fund. I have one going to Vanguard, it averages 13.9% a year. If you never get the money and carry on like it doesn't exist, you will have a very happy surprise someday. I find that expenditures usually rise to meet income, so take some out before you ever see it. Compound interest is a very powerful thing. If you don't get a regular "paycheck", make a deal with yourself that a certain percentage of any money you get goes into the fund and stick to it. Most people find that they can put that percentage away without impacting their lifestyle, you just have to treat it as a bill that has to be paid.
I just checked my account so I was sure of the numbers. This is the fund: VFIAX Vanguard 500 Index Fund Admiral Shares 5 Year return = 15.71% This year = 22% Fee is .04%
Todd Parr wrote:I find that expenditures usually rise to meet income, so take some out before you ever see it.
You totally ruined the moon. You're gonna hafta pay for that you know. This tiny ad agrees:
Solar Station Construction Plans - now FREE for a whilehttps://permies.com/t/138039/Solar-Station-Construction-Plans