Comments on: Can you Shave Money from these Three Budget Categories? https://www.financeglobe.com/post/can-you-shave-money-from-these-three-budget-categories/ Personal Finance Tips & Tools Wed, 11 Nov 2015 13:39:11 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Anonymous https://www.financeglobe.com/post/can-you-shave-money-from-these-three-budget-categories/#comment-101 Wed, 11 Nov 2015 13:39:11 +0000 https://www.financeglobe.com/tools/2015/11/05/can-you-shave-money-from-these-three-budget-categories/#comment-101 Thanks for the breakdown, FG. Definitely helpful for those who lack discipline!

]]> By: Anonymous https://www.financeglobe.com/post/can-you-shave-money-from-these-three-budget-categories/#comment-100 Tue, 10 Nov 2015 03:49:05 +0000 https://www.financeglobe.com/tools/2015/11/05/can-you-shave-money-from-these-three-budget-categories/#comment-100 I don’t know how many years I made excuses not to do this when I was young. I would have started saving much earlier and never missed that extra $ if I just made it a requirement.

]]> By: Anonymous https://www.financeglobe.com/post/can-you-shave-money-from-these-three-budget-categories/#comment-99 Mon, 09 Nov 2015 19:14:59 +0000 https://www.financeglobe.com/tools/2015/11/05/can-you-shave-money-from-these-three-budget-categories/#comment-99 I love that analysis above. This really shows the affect of compounding interest. If you start young, and have a long time horizon, you should have no problem saving for retirement.

]]> By: Anonymous https://www.financeglobe.com/post/can-you-shave-money-from-these-three-budget-categories/#comment-98 Thu, 05 Nov 2015 18:47:25 +0000 https://www.financeglobe.com/tools/2015/11/05/can-you-shave-money-from-these-three-budget-categories/#comment-98 Good post Chris, for those without too much discipline:
1. Set up a fixed monthly transfer into another bank account with no fees.
2. Destroy the debit card or checks for this account so you are not easily tempted to withdrawal from this account.
3, This will be money you never had, it will force you to rethink your budget. Only think about taking from this account when you retire.

If you do this for 30 years, depositing $300 a month yielding only 1% will result in nearly $126,000. At 5% you will have almost $250,000!
No minimum deposit: Amex Personal Savings: https://personalsavings.americanexpress.com/ (.90% APY as of 5 Nov 15)
$500 minimum deposit: Discover Bank Savings: https://www.discover.com/online-banking/savings-account/ (.95% APY as of 5 Nov 15)

]]> By: Anonymous https://www.financeglobe.com/post/can-you-shave-money-from-these-three-budget-categories/#comment-97 Thu, 05 Nov 2015 18:45:19 +0000 https://www.financeglobe.com/tools/2015/11/05/can-you-shave-money-from-these-three-budget-categories/#comment-97 Great information Chris. I would also 3 additional categories you may be able to reduce your expenses:
1. Heat/cooling: In the winter months: (1) Add blankets to the bed and (2)use your ceiling fan. Many people think fans only cool down, but if you use your ceiling fan at a low speed, letting it spin clockwise, the warm air trapped at the ceiling will circulate the room. During the summer, wear shorts and a t-shirt in doors and use fans as much as possible.
2. Subscriptions: If you are tight on money, you can cancel newspaper, magazine, or club subscriptions. This will save you money overtime.
3. Electricity: Never leave electronics on when you are using them, and make sure everything is off when you leave for the day.

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