How to SAVE Your MONEY as a Millennial (Money Saving Formula)

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Looking for ways to save money? In this video I share with you a formula that I have been using for saving money and reaching my goals. It all starts with a setting goals, using a money saving strategy and eventually investing your allocated funds.

In order to save money, you first need to have a reason why. This may seem obvious but when you don’t have a clear image of what you are aiming for in the future, you may get off track. Make sure these goals are realistic and achievable in a certain time frame. Writing your goals down is the best way to stay motivated and follow these money saving tip. Using visual content is another great way to stay reminded.

Once you get paid, you want to follow a strict structure in order to save money and reach your goals. This money saving formula is strategically structured in order for you to save a lot of money and potentially increase your income over time.

50% – rent / bills and if not applicable to you then SAVE THIS, this will give you a massive head start in the money saving process.
20% – set aside for taxes. Having this prepared will help you prepare for when taxes are due. This may or may not be enough – you will want to discuss this with your accountant
15% – Reinvest in your business or yourself (ads, new equipment, marketing etc) the goal of this is to create efficiency and increase your income overtime.
10% – allocated into your savings. This is a great start when breaking down your paycheck and overtime, you will see a dramatic increase in your savings.
5% – used for enjoyment in order to stay motivated and feel rewarded

The key to this money saving strategy is that once you have a certain amount of money saved, in order for it to keep its value, you will want to invest this capital. Focusing on low risk long term investments are key for this part of the money saving formula. Buying yourself a property or a rental property will allow you to build capital or collect rental income. If you are not prepared for such a large purchase, then starting small with Index funds such as the S&P500 would be a great start.

Follow these money saving tips, stay committed and you will reach your goals!

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Money Saving Expert Home Office, How to SAVE Your MONEY as a Millennial (Money Saving Formula).

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In the very first part of this guide is a real fundamental description on what solar power is everything about. It’s not always that you mad a bad option, simply possibly not a great time for that option.

Why not be a money saving specialist and take the pressure off you and your nearest and dearest? Here I note 4 methods that are easy to implement and can start saving you cash from today.

A budget plan is even more than simply a way of tracking your spending. It is a way to prepare for your future and comprehend your personal costs practices. It will provide you a guide that you can build on. In addition, if followed, it will enable you to much better manage your earnings and will allow you to reach your financial objectives.

One of the finest Money Saving travel ideas for saving money on accommodations is compare rates. Prices for hotel rooms can vary considerably, even if the hotels lie near each other. Examine a number of various websites for the very same hotel rooms if reserving a hotel room online. Opportunities are the rate on one site will be lower than the rates on other websites. Another way to save is with a Travel Membership.

Considering that your electrical company charges you for power or watts, it doesn’t matter if you use 120v or 240v How to Save Money provide 1500 watts of heat. This indicates you pay 14 cents for every hour where you take in 1000 watts or 1KW if your energy business charges 14 cents per kilowatt hour. If you utilized the 1500 watt (1.5 KW) heater for one hour, that is equivalent to 1.5 KW x. 14 = 21 cents per hour.

So you can save money and have an accurate quote, you need to examine the quote carefully and eliminate anything you don’t require and add whatever you do require that is not there.

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Is your grocery costs the bane of your expenditure? Then take your lunch to work each day and make your supper at home each night. So, choose any one among them according to the taste of your kid.

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