I AM A SONIC BOOMER, NOT A SENIOR... In this blog, I am writing to and for those who believe that the Boomers will change what the word Senior means. I also believe that Boomers will change what retirement means in our society. The blog is also for those who are interested in what life after retirement may look like for them. In this blog I highlight and write about issues that I believe to be important both for Seniors and working Boomers.
Thursday, November 17, 2016
Every Day Ways to Save Money for an Emergency
When you think about it, there are a good many ways to save those precious pennies. Some ways will require some sacrifice, while others will require little before thought.
The point is to be forever mindful of saving those extra pennies and before you know it, you will have saved up a tidy sum.
·Spend less money than you earn each week.
·Seek out a higher paying job.
·Keep your job skills sharp and up-to-date so that when a new opportunity comes up, you will be on your toes and first in line.
·Adjust your lifestyle to always spend a bit less.
·Create a firm financial budget to encourage saving.
·If you must use credit cards/cut up those you can do without.
·If you must use credit cards, pay them all down in full each month.
·If you have credit card debt at high rates, consolidate at once.
·Figure out a way to lower your student loan payments.
·Just say NO to spending money whenever possible.
·Lower your expenses, one by one.
·Stop purchasing items that you can do without.
·Forego purchasing non-essential items.
·Refinance your mortgage or debt at a much lower rate.
·Refinance your car loan at a much lower interest rate.
·Find cheaper insurance rates/then switch over.
·Use coupons to shop with. Don’t purchase without a discount coupon.
·Wait for things to first go on sale before buying. Take advantage of catalog saving certificates.
·Don’t buy an item just because it is on sale.
·Buy generic or non-name brand merchandise as much as possible.
·Wait for prices to fall to a discounted rate before buying (applies especially to electronics items).
·Reward yourself for saving money. Enjoy as your debt shrinks and your investments grow.
·Drive used cars or leases rather than brand new cars.
·Reduce your auto insurance.
·Don’t eat out as much as you’d like to.
·If you do eat out, buy gift certificates for half price meals.
·Buy only discount magazines.
·Do more stay in activities at home.
·Invest the money you save to earn even more.
·Create a plan to save $200 each month (as much as you can manage.) Never miss the monthly savings payment to yourself and try to find ways to increase it.
·Don’t spend money just because you have it.
·Look into getting a better quality education.
·Stay very busy – you will have less time to spend money.
·Find an interesting hobby to occupy your time and stop you from spending money.
·Find a hobby that you can turn into earnings.
·Stop smoking and bank the savings.
·Go on a sensible diet and lose weight. You will save money on food, look and feel better, and your long-term healthcare costs should fall dramatically.
·Look carefully at how you spend and save your money.
·Learn how to manage your finances by reading financial publications.
·Increase the amount of money you earn through a second job, promotion, new job, investments, etc.
·Don’t try to compete with your friends and neighbors. Be satisfied with what you have.
·Don’t compare yourself to your friends and neighbors. Be happy being you.
·Sell your car and take the bus to work if you can.
·Contribute the maximum each year to your 401K or to an IRA.
·Buy Dental Insurance before you need it.
·Buy Health Insurance before you need it.
·Paying down your debt is also a way to save money (it saves you from a debt payment and brings you closer to having money to invest).
·Switch to lower your telephone bill.
·Lower your cable bill by deleting pay channels or switch to satellite.
·Earn extra money by completing short surveys online.