How to Boost Savings?
Do you know that a daily morning home-brew mug of aromatic coffee can save you $1277.50 a year!
Fundamentally, we need to live within our means. We need to accept that we must limit our spending based on what we earn and save at least 25% every month. We should not allow banks, credit cards, loan dictate how much we can borrow.
This unhealthy habit makes everyone run in an endless cycle of debt. Buy or Rent places which you can afford. Only buy goods and services within your affordability factor. We need to save up before we buy that special item, holiday, car or service which we always dream of.
Here is a list of useful article/guides to help all our readers Boost Savings and Unlock the potential Cash Savings. I will add new articles and resources that I recommend over time.
Free Financial Health Check.
Try the Free Test.
Key Money Savings Guide.
For starters, I would like to share with my readers that savings is far more important than your income by reading this ‘Take the Stress out of of your Finance’ guide. You can be making $250,000 a year but spending $300,000 on expenses will still put you in debt. Family across the road can be making a generous $50,000 and saving $10,000 a year would put them in a better financial health position.
I highly recommend reading this article ‘I want to Retire Young’ to motivate you save more and earn more to free up financial freedom.
It is also crucial to ‘Start and Emergency Funds’ (if not already done so) and ‘Cut your Monthly Expenses’ as a basis fundamental start to your financial health kick start. Be brave and start benchmarking your financial budget today!
Breaking the Debt Cycle.
In the 90’s my father had only four monthly bills to pay. Food, Telephone, Utilities and his Car Fuel. Today, we have 25 bills to pay ranging from internet, mobile, utilities, mortgage, Spotify, Netflix, gym membership and the list grows on.
Debt is a killer in todays ruthless society. Please do read this article on ‘How to bounce back from an unexpected Bill’.
To get house mortgage in this current generation requires lots of money and mortgage is the only way in the property ladder. Therefore good credit rating is key to start a family with a roof over our head. Recommend to read this article on ‘How to increase Credit Rating’.
Creative Money Savings Method.
Saving money the honest way can be a creative process. The only way to learn is to speak up and learn about the various successful methods. Let me list a few ways which helped me and my family.
- ‘Quit Smoking and Investing’ can boost a £264,136.80 over 20 years! No Joke!
- ‘Found $500 in my Garage’ and invest it immediately (Not spend it!).
- ‘Free Money from Online Shopping’ is a method and tool I used to save over $500 a year.
- ‘Top 10 savings tips on Amazon’ is one of my favourite I share on a daily basis with friends.
Family Travel Money Saving Guides.
I go on at least 3 family holidays a year at least since my first child was born. Holidays is the only way to liberate your work stress. Not every family has spare $10k to spare for each holiday. Over time, I will share how we travel affordably! Follow me on Instagram to see our family vacation photos.