The 5 rules of saving – When, where & how
Rules of saving
Let’s face it: like anything in the game of life there are rules to live by. If you don’t exactly know the rules, it may be game over before you begin. When it comes to saving, we need to know when, where and how to get our game on.
Garrett Jay of Money Lessons for Life says, “We live in world that has taught us to spend, spend, spend and shop ‘till you drop. Changing your behavior takes determination and patience, but it’s not hard if you stay focused. Here’s how to grab the bull by the horns. Sit down with a pen a paper or better yet, create a file on your computer so that you can easily edit and update your information.”
When to save
It’s never too early or too late to start saving. In fact, experts recommend starting this very moment. You don’t have to be saving up to buy a brand new car or think about a home improvement someday in the future; it could simply be realizing that it’s important to save regardless of your financial goals or current financial state.
Where to save
There are plenty of ways to save, you just need to be open to looking at situations differently. Take landscaping, for example. Jay mentions they’re like haircuts: you can increase the time between cuttings to save money. If you pay $50 to your landscaper on a weekly basis that equates to $2,600 each year. If you switch it to every other week, costs are cut in half. “Some landscapers will try to charge you more if you ask them to come less often, but it still may be worth it. $60 every other week will cost $1,560 which would still save you $1,040 a year!”
