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Saving Money When it Seems like There is None to Save

Saving money is tough for everyone, no matter how much you have. However, when financial times are tight, saving money may seem impossible.

However, do not fear-there is always a little bit to put away, even when it looks like there may not be. The key is in knowing how to find it, and living within your means, to prepare for the future.

Just making a few minor adjustments could have you on your way to building a nest egg for your future. Whether you get paid once a month or twice a month, you should figure out your income and expenses.

Sit down for a few hours one Saturday or Sunday and go over your monthly bills. Make a spreadsheet that includes your regular expenses like your house, car, electric, water, cable, food, and gas.

Then figure out where you make some cuts. Can you call your electric provider to see if there is a twelve-month economy plan?

Can you take your lunch to work or cook more meals at home? Can you split your house note into two payments and pay bi-monthly instead of once a month?

Making these adjustments may free up at least twenty-five dollars you did not think you had. Be creative with your finances, but be realistic as well.

If you have some credit cards that you pay on a monthly basis, see if some of the high interest cards can be combined on to one card with a lower interest rate. Maybe you can call some of the companies and see if they can lower your interest rate or adjust your payments.

In today’s economy, you would be surprised at what companies are doing to get their money. They may be willing to work with your financial situation.

More often than not, we think we do not have any money to save-in reality if we cut back on our “fun” spending a little, we can find some extra money for saving. For example, if you have a habit of smoking, maybe you can cut back on the purchase of cigarettes.

Even better, you may look into ways to kick the habit. Just imagine how much extra money you would have then.

If you enjoy going out to the movies, that trip alone can cost twenty bucks, even at the matinee. Maybe some months, you can rent movies from the Red Box, get some microwave popcorn, and make some hot chocolate.

Then, movie time is around five dollars, which is a savings of fifteen dollars. What about the advertisements that bombard us on a daily basis?

Can some of the shopping be cut down? For holidays, can you make gifts like homemade chocolate chip cookies?

Making gifts verses buying them can save you a lot of money. Maybe you can decide that for one year, you will be creative when it comes to gift giving.

People who care for you will understand. Do not buy greeting cards, send e-cards.

Try to put your tax return right into a savings account. This is a great boost every year that you can count on.

Now that you have figured out some ways to cut back, you may realize with just a little thought and planning, you can find at least twenty five each month to begin saving. Anywhere is a good place to start.

The next step is to choose a bank with a free checking account, and open an account. If you do not feel that you can resist taking the money out, get an IRA.

Put twenty-five dollars a month in, or have your employer automatically take it out of your paycheck. I guarantee you will not miss it.

When you are able to, increase the amount to ten dollars more each month. When you begin saving in this manner, you are well on your way to building a solid financial future that you built for you and your family.

This will give you a feeling of security that you did not have before. It is wonderful!

As the years pass by, your money will make money for you. If an emergency comes up, you have some money for the emergency.

As you get older, you will have extra money to enjoy in your retirement years. Make the commitment to yourself that you are going to start saving twenty-five dollars a month-you will love the results.

Jack R. Landry has worked since 1988 as a tax attorney. He has written hundreds of articles about finding a Los Angeles Tax Lawyer.

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Jack R. Landry