That is sometimes a really good thing because it is then that we actually realise what we waste money on. Not to mention that once you begin to cut back you can see that you are still OK and that if you had saved some of that money over the years you might have $30k in saving’s right!:) I know that a lot of us are now forced into being more conscious of what we are doing to the point where people are actually growing their own vegetables and using their mind’s to think outside the box a little more. We have had to do this for Millennia really so it is no different now. See what I mean there? You see that a perceived negative situation can bring about forced change that actually starts us thinking a bit more about being industrious instead of just living or existing each day like a cycle of negative perceived reality of the downturn, which I think is wrong anyway.
What can you do now to cut back? What can you do that might have a profound affect on your next ten years of life? What changes can you make that might seem quite small but could have quite large positive changes to your financial/mental/physical future? It might be something as simple as eating more fresh grown vegetables or fruit which helps your health right!:) Try and figure out in all areas of your life where you start to gradually implement positive changes that will assist you in a brighter and more abundant future. I bet you will have at least a few things you can do this week, I know that I have!
we are currently in a financial crisis or economic downturn. Now this can actually be a good thing. How? Well it is because it will get people to think outside the box when it comes to spending. Actually when there is mass panic about money is when most clever people make money because everyone else is hanging on for dear life to what they have and taking no risks. So how can you save more money now and create a secure future? You can start by looking at your shopping list. How much rubbish do you buy? How much is spent on Cereals for example? I know me and my girlfriend will buy just one cereal that is healthy so not only are we spending less but we might even live more. Cool huh! It doesn’t take much to begin breaking down your monthly expenses and cutting back.
What you might even do is go for a smaller car? Or wipeout an expense that is not actually needed. Let’s say you go to the Gym ok, well how much do you pay per month? $30, $70? Well ever heard of running,swimming,walking,badminton,cycling,press ups, situps? You can save your monthly Gym costs right there. What about getting your hair cut, do you go expensive or cheap? You are getting the idea by now huh!:)
So first of all look at all of your outgoings, then eliminate any that are not needed at all, then adjust the outgoings to cheaper versions of what you buy, like value groceries. After that you can look at your fixes, what do I mean? Well Alcohol, smoking, junk food, commercial coffee shops, general luxuries that you really could do without especially for your health.
Let’s say that you save $50 per month well that’s $600 per year or $6000 over ten years, or $18,000 over 30 years. Cool huh! It won’t take much to get to that level of saving and then when you retire you will have maybe $20k in savings that you didn’t miss. This all depends on your ability to save more and then either live much more comfortably in the now or have a hefty lump sum when you retire. Hey it might even allow you retire a few years earlier.