For a few years now I’ve watched from the sidelines as asset prices in every major investment category have defied all fundamentals and climbed to new dizzying heights.
Continue reading “The toxicity of the current economy”
Drinking more H2O is not only one of the best ways to stay healthy, it can also save you a lot of money! Whenever you eat out, drinking water and avoiding soda and alcohol can save you upwards of $2-$10 a meal. Continue reading “Drink more water!”
If you don’t need the cash immediately, a great way to save money is by contributing to a retirement account. Every year, you can contribute a certain amount (limit this year is 18k), to your employer 401k, pretax. What this does is it lowers your taxable income for the year.
Continue reading “Contribute to 401ks and IRA’s”
Nowadays, the internet makes selling your old stuff easy. It never hurts to make a few extra bucks on something you were going to throw out anyway. Here are a few examples:
Continue reading “Sell your old stuff”
These days there are many credit cards which reward you with points or cash back for however much you spend on it. If you are still using cash to buy everything, or using a credit/debit card without rewards, you NEED to apply for one of these cards. It is basically free money!
Continue reading “Get a Rewards Credit Card”
Turning off your lights/appliances/electronics when you’re not in a room can help save you money on your electric bill. It can be simply turning off your computer at night, or just making sure lights are off before you leave the house, but these can make a big impact on the bill. I was able to shave off about $20 a month by doing this, that amounts to $240 a year! Your electric company should hopefully have your electricity consumption on their website, so you can track this if you want and see when your use goes up and bill increases. It can have a breakdown by month, day, and even hour, so you can see where your opportunities to cut are.
If it is viable, buying in bulk is will always save you money. Instead of buying individual rolls of toilet paper, or paper towel, getting a box or set of them from Costco will bring the unit cost way down. Same with toothpaste, toothbrushes, soap, shampoo, and other toiletries. Same goes for food as well, although make sure you can actually get thru it by expiration date so you don’t end up just throwing things out. Although it may cost more in the short run, you will definitely save money in the long run.
For everything you need to buy, whether it be electronics, clothes, food, etc, make sure you do a little bit of research before buying. A lot of times buying an item online may be much cheaper than what you would pay at a store, or vice versa. For example, let’s say you want to buy an HDMI cable for your DVD player. The only option at the neighborhood best buy may be $25-30$. The same cable on amazon.com is $3. That is a 10x price difference! This is an extreme example, but these types of differences are not uncommon. A shoe that you find at the mall for $100 may be on sale at another store for $50. Doing too much research can also take a lot of your time though, so if the price difference is too small, it may not be worth it. But at the very least, doing a google shopping or amazon search online for something will take a few seconds. Check the online price before buying at a store.
Getting a kindle e-reader can be a great way to save money if you read a lot. Many of the classics, like Les Miserables, are free, along with discounted prices for many books. They also have unlimited reading/audiobooks deals for around $10 a month, which is great if you read more than a couple of books a month. I have an old version of the kindle, with no backlight, so it only serves as a reader, but the latest Kindle Fires are essentially tablets that can be used for web browsing as well
Fire, 7″ Display, Wi-Fi, 8 GB – Includes Special Offers, Black
Probably the best way to keep track of your monthly spending habits is to use mint.com. The way it works is that you connect your relevant credit card accounts and bank accounts to it, and so then you will have one place you can go to check all your expenses and charges. What’s great is that it creates a nice graph for you, whether you want to view by category or time period, so you can really visualize everything.
Continue reading “Track your finances with Mint”