Finding a way to fund your IRA is an important task no matter when you start working. Even if you have started late, getting something into a retirement account is better than nothing. Take the time to learn about an IRA and how to budget for retirement savings every month.
All those years working should result in something more than a gold pocket watch. Those golden years need to be funded by something and Social Security is not going to cut it. There is no substitute for proper saving and funding of your IRA. It will pay off in the long term and give you a nice cushion to land on once you are in Florida or Arizona.
Cut The Cord
While having hundreds of channels and HBO at your fingertips may seem like heaven for some entertainment buffs, most people don’t even use a fraction of the channels that they have in their cable package. And that package can really hurt your bottom line. You can be spending upwards of $200 a month for all that extra entertainment.
Cut the cord and just go with high speed internet instead. Even though many cable companies are creating packages to kill that move, it makes sense to just go with the internet and streaming services. You can save your money and get more control of your entertainment choices. You might lose some sports access, but that is OK.
Look to the Library
Not only does the library have tons and tons of books to give you a great alternative to modern cable television, the DVD section is not a bad place to be. All those movies and TV shows for free, with your library card. You can find all the entertainment you want to for just a library card.
Fix your Food Budget
What is the most expensive source of nutrition? Protein. That is one of the essential building blocks of life and Americans love protein more than nearly any other food group. The key to bringing your food budget down is to find the cheapest sources of protein possible. Eggs and beans are great alternatives to steak. Nuts are also a great way of getting protein in your body that doesn’t cost an arm and a leg.
Figuring out new and creative ways to cook beans, lean chicken and fish is good for your brain, your body and your wallet. Learning new skills in the kitchen will give you a sense of accomplishment. Paring down your red meat and pork consumption will do wonders for your waistline. That is a great way to get healthy and get your bank account back on track.
The art of saving money is something that can be learned. It is not an inherent state of being that people are just born with. Lots of people believe that they are either good with money or bad with money. But the truth is there are money-saving skills that you can learn and use to your advantage.