Even if Benjamin Franklin never actually used the expression "a penny saved is a penny earned", the reality is that it has been a sentiment for frugality for centuries. He did say: "Beware of little expenses; a small leak will sink a great ship." At the end of the day, it is not about how much you make as much as it is about how much you keep.
The first step in a personal finance review is to discover where you are spending your money. It can be very eye-opening to have a detailed accounting of all the money you spend. Coffee breaks, lunches, entertainment, happy hour, groceries and the myriad of subscription services you have contribute to your spending.
This revelation can lead you to obvious areas where savings can be accomplished. The next step is to dig a little deeper to see if there are possible savings on essential services.
A strategy that some people use is to report their credit cards as lost so new cards will be issued. When they are contacted by the companies to get a valid credit card, they can determine if the service is still needed.
The money you save can ultimately help you in the future for a rainy day, an unanticipated expense, a major life event or retirement. Cutting back now will give you more later, possibly, when you need it even more. Tennessee Williams said "You can be young without money, but you can't be old without it."
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Bob is dedicated to offering the finest real estate service available in the Lake Geneva area. He attempts to make each buyer or seller he works with feel like they are the one and only client he has and strives to make each transaction a pleasurable experience with the least amount of problems, stress, and inconvenience to them.