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What is your best money saving tip?

  1. LeonJane profile image90
    LeonJaneposted 3 years ago

    What is your best money saving tip?

  2. soulfully profile image75
    soulfullyposted 3 years ago

    Motivation is the best money saving tip.

    My best motivational money saving tip is to think of how early you'd like to retire with 1 million dollars?

    In 10 years?
    Earn and SAVE $274 dollars per day.

    In 20 years?
    $137 dollars per day.

    In 30 years?
    $91.33 dollars per day.

    In 40 years?
    $68.50 dollars per day.

    Other people aren't as ambitious and could happily retire on much much less. Say $200,000?

    In 10 years?
    Earn and save about $54.80 per day

    In 20 years?
    $27.40 per day

    In 30 years?
    $18.27 per day

    In 40 years?
    $13.70 per day

    Even a nice $50,000 extra cash floating around in your bank account could do wonders for you. Start a business. Invest,etc.

    In 10 years?
    Earn and save about $13.70 per day

    In 20 years?
    $6.85 per day

    In 30 years?
    $4.57 per day

    In 40 years?
    $3.43 per day

    You could even start a small business these days with $10.000, easy.

    In 5 years?
    Earn and save $5.48 per day

    In 10 years?
    save $2.74 per day

    In 20 years?
    save $1.37 per day

    In 30 years?
    save $0.92 per day

    I would think one of those is achievable for most people if they cut atleast 1 pointless item from their shopping, habits, etc. If I made any mistakes with my math then please let me know anyone. Thanks.

  3. Diana Lee profile image83
    Diana Leeposted 3 years ago

    Be thrifty.  The "Waste not, Want not", theory our grandparents had still holds true today. Do we really need a light on in every room?  Do we really need fifty pairs of shoes?  Of course not, but our savings can use the extra money we spent on such things to speed up how long it takes to make a sizable nest egg.

  4. My Bell profile image96
    My Bellposted 3 years ago

    My tip is to purchase generic brands for almost everything. You can save so much money this way and often the generic brand is made by the brand name. Look at labels to compare for grocery, beauty and OTC meds. A good example of this is to purchase the grocery or drugstore brand of Ibuprofen, instead of say Advil. The ingredients are identical and you will usually pay less than half the price of the brand.

 
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