Monday, January 18, 2016

Saving $25/Week

I will be publishing a new page soon to my blog, and it will talk about ways to save money. I am adding $25/week to my Robinhood account, so I need to find $25/week in cost savings to offset this. Hopefully most people can allocate money in their budget to put towards investments/retirement funds, but having a conversation and idea list on ways to save $25/week will hopefully show it can be accomplished by the "average Josephine/Joe".

Note:

  • Some of the cost savings might be monthly cost savings, so I will break them down into a weekly basis.
  • I will strive to come up with original ideas and examples, but the "Starbucks vs. making your own coffee" will come up. I will strive to show an original example of this cost savings example though. 
  • Some cost savings might be considered no-brainers by some, like "Quit Smoking". I didn't realize until recently how many people actually still smoke.
  • Some cost savings ideas might be more specific to men, because I identify as a man. (This isn't to leave women out, it's just because I'm a man).
  • For some cost savings, there might be an initial cost. I will try to calculate the rate of return to justify the initial cost to eventually save money.
  • My cost saving calculations will probably show prices/costs specifically where I live. These prices/costs might be different than where you live, but the idea is to create conversation and thought towards cost saving. 
If I could go back in time and change one thing about how I personally chose to invest, I would have added money on a more consistent and frequent basis to my investments. I can't go back in time, but I can add $25/week to my investments now. 

Signed,

Mitch

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Thanks for your thoughts!