I've also been reading a lot of books lately about organizing, and becoming more efficient.
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| When I read like this, my arm gets tired though. I usually prop the book on my stomache. |
That being said, I decided to take the tips from one of the books to heart, and I am so glad I did. For example:
- Did you know that by switching your mortgage payment from once a month to bi-weekly, you can save a lot of money? I just did it, and it's saving me $20k in interest, and cutting over 6 years off of my payments! $20k is an amazing savings (and I'd totally rather use it to go on an African Safari on the Masai Mari instead of giving interest to my bank).
- Also, increasing the payment on the principal saves you a ton of money too. If Matt & I pay an extra $200 per payment, we'll save over $60k on the house, and cut 12 years off of our payments. THINK OF HOW MANY OTHER THINGS WE CAN BUY!
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| Like an amazing wine cellar |
- Another great way to save money: stop eating out. This isn't a huge issue for me, since the only time I really eat out is when I'm traveling for work (ok yes, this does mean that I eat out 4 days a week.) But for Matt, who has to pay for his own lunch, it means huge savings.
If he eats out for lunch every day of the week, and we'll assume lunch costs ~$10/day. (You figure drink - $1.50, chips - $2.00, meal - $7.00). That's $50 a week, or $200 a month. If you're working 48 weeks out of the year (assuming for vacation and holidays) thats $2,400 a year. Bringing your lunch to work 2x a week decreases the spending by $960. And its easy to bring lunch for free - just bring leftovers from what you had for dinner the night before.
Some may say that they're tired of the food, but to me it just tastes like money.
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| Yum |
-My final money saving tip for the day is in regards to bills and loans. MAKE MORE THAN THE MINIMUM PAYMENT. If you have a credit card, pay off the whole bill. If you have loans, add an extra $50 or $100 to the principal balance. You'll have the money to do this because you'll have saved an extra $1000 by bring your leftovers for lunch instead of hitting up the Panera. Interest eats up your paychecks and just drags you down into debt and bankruptcy. Go look at a bill right now. Does it tell you how much you'd be paying in interest? THAT'S A TON OF MONEY (not literally) that you could be using to save for a vacation, a new handbag, or even your unborn child's future. (personally, I vote handbags and travel).
Follow these tips and you too can roll on a bed of money.
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| Or sleep on one. |
