Question by Nikita: Does anyone have any money saving tips they would like to share?
Best answer:
Answer by chad b
If your employer allows it, I love automatic savings withdrawals from my paycheck. I set it up and forget it (or live with it). I have an automatic deduction from my paycheck that funds a Roth IRA, a savings account that I pay my mortgage and a contribution to my 401k. The 401k contribution reduces my taxable income. The savings account ensures I always have enough money to pay my mortgage and the Roth IRA makes sure I am set for retirement. Because this money is “automatically” taken from my paycheck, I am forced to “live” on what’s left in my take home paycheck. I also keep my house cooler than I would like, which gives me a chance to wear all of the sweaters and sweatshirts I have accumulated over 31 years. I also use low watt fluorescent bulbs in the areas we use most. I save my daily change to collect for a last minute bill or to fund a “fun” expense with cash.
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