Home » Saving Is Medicine For Debt, And It Doesn’t Have To Come With Nasty Side Effects

Saving Is Medicine For Debt, And It Doesn’t Have To Come With Nasty Side Effects

Looking for a painless way to save money? Your options might be a lot more open than you imagine. We tend to think that saving and sacrifice are one and the same thing. You imagine you’ll have to cut back on vacation time, work longer hours and not eat out at restaurants as much. But does it really have to be so painful? Here, we’re going to look at some of the pain-free ways in which you can save.

 

Make Your Money Grow


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Recently The Fortunate Investor ran a blog on how to save the smart way. They pointed out that saving isn’t just about hacking away at your disposable income. It’s about getting smart with the money that you do put away. Think about it. Let’s say that you invest 10 percent of your income every month and get 4 percent back. Thanks to compound interest, that 4 percent balloons to almost 50 percent over the course of a decade. That means if you put away $1000 today, you’ll get back more than $1,500 in ten year’s time. Of course, as the returns increase, so too do the payoffs. If you find a financial investment product paying 7 percent, all going well, you’ll make back 96 percent over 10 years.

 

Get Healthy

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Do you know how much money being sick costs? A lot. And we’re not just talking direct medical expenses. The sicker you are, the more your health insurance premiums will rise. And the more they rise, the more that you’ll have to fork out each month. That, in itself, could be enough to push you into debt. But it doesn’t have to be that way. Just by making simple lifestyle changes you could save a lot of money. Cutting out cigarettes would be a start. Getting active and eating better would be the next step. Plus, you might find that all this healthy living has unintended consequences. The healthier you feel, the more productive you’ll be at work. And the more productive you are, the more likely you’ll be to get a raise.

 

Reexamine Auto Insurance

 

Thanks to the deluge of whiplash claims, auto insurance costs continue to rise. But you don’t have to settle for sky-high prices. Most insurers will try their luck when it comes to your renewal quote. They’ll push up the price, hope you won’t notice and take all that extra money. But thanks to comparison sites, you can find out the true minimum cost of insurance. Next time you come to renew your insurance, confront your insurer with the lower prices you’ve seen elsewhere. All of a sudden, they’ll be able to offer you some amazing savings on your quote.

 

Bundle Your Home Services

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There’s been a lot of consolidation in home services over the years. Suppliers are combining phone, Internet, and TV all into one package. This is good news for you because doing it this way usually works out a bit cheaper. Plus, a lot of major providers offer incentive bundles. They lower the price for the first three to six months, offering instant savings. If you’re going to have these services in your home, they might as well be supplied at the lowest possible price.

 

 

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One Response to “Saving Is Medicine For Debt, And It Doesn’t Have To Come With Nasty Side Effects”

  1. […] vacation time, work longer hours and not eat out at restaurants as much. But does it really have toRead more… Related […]

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