You often hear stats about how if you give up that morning cup of coffee at Starbucks, you’ll be saving x dollars per year. That’s great, but some of us just aren’t ready to give up that shot of energy in the morning. That’s okay! There are many other small changes you can make in your life that can add up to big savings over time. Here are a few to consider.
How much of your income should you be saving? A common rule of thumb answer used to be that 10 percent of income should go into savings. But 10 percent doesn’t really cut it anymore. Certified Financial Planner John D. Buerger explains what the new rule of thumb is and how to hit that target.
A trip to the mall can often be more overwhelming than balancing your checkbook at the end of the month. (Will we ever learn to just do it as we go?) With so many options and price points, it’s difficult to know what any one item is really worth. Typically speaking, I like to keep all purchases under $100. And if I’m being honest, I have a hard time shelling out more than $50 for any one item. But rather than look at the price tag as a single number, I’ve actually found the best deals (and saved the most money!) when I’ve employed a simple formula: cost per wear.
You may only think of the work day as the time when you’re earning money, but the truth is you’re incurring expenses because of your employment as well. Some may be tax deductible, but most are probably not. So how do you keep your work-related spending under control? The first step is looking at where you are spending. We show you how.
For most college students, this is the first time you are managing a budget and incurring debt. Developing cost-saving habits will allow you to live more comfortably as you pursue your degree and help you continue to live well after you graduate. So whether you’re saving up to throw a killer tailgate party for Homecoming or just paying tuition for next semester, here are a few tips for keeping your budget under control.
While there are a lot of different ways to save money when going out to eat, one helpful website deserves a bit more attention in this quest: Restaurant.com. The online company claims to help restaurant owners promote new and unique aspects of their restaurants, as well as provide diners with great value in a fun, new and cost effective way. If used in the right way, Restaurant.com can get you a two course dinner and drinks for under $10. But, you can also wind up paying more than you would have without the discount if you’re not careful. So, what are the right circumstances? How can you maximize your savings using this tool? Let’s take a look.
In the worst recession our country has seen in decades, the idea of spending a day getting pampered at an expensive spa is almost laughable. But what about taking an hour or two to relax for the same price as dinner and a movie? Armed with the right tools, indulging has never been easier.
If you happen to be sitting on some extra cash, you may be wondering how to put it to its best use. The answer depends on your personal financial situation. Learn how to assess your situation and determine when to save your cash, when to invest it and when to use it to pay down or pay off debt.