Saving money is not easy if you don’t go about it the right way. This means that you can’t just say that you’re cuttng back on going to the movies or buying less expensive food and expect that to make the impact that you really need. I do things like calling the different Texas energy companies here in my state to check to see who has the most competative prices often. I do the same with all my credit card companies, my cable company and any other places that I buy services or products from. These things and other things that I have price-checked over time have saved me $2,000 this last year.
Another thing that is very important to remember is to exercise your willpower. Yes, I saved $2,000 last year, but that does not mean that I should suddenly blow most or all of it on buying other things that cause that money to be wasted. I would love to have some new furniture and the savings would have covered furniture easily. But then, the money would be gone again. Instead, I told myself that I needed to hit the yard sales to find new furniture that looks great but comes at a fraction of a cost. I gave myself a budget of $250.00. That is just a fraction of the money. I bought a new kitchen table for $35.00, a coffee table and side tables for $30.00 and I got a great looking couch for $100.
Most of the money that I save is put into an IRA every year. I make sure to max it out. It may seem hard to do, but it’s not. Just imagine being retired at 70 years old and struggling to buy good, much less go to a movie or buy yourself a treat. Saving is what will allow you to live a decent life when you are no longer working one day.