Free money? Does it exist?
Sorry but the answer is no, there is no such thing as free money. However, these are ways to find money you never realized you ever had.
The Latte Factor: Lets say you go to work on a bus and every morning you buy a cup of coffee and a bagel at the café near the bus stop. During the day you buy a few things for lunch with co-workers and maybe a little snack for that 2:30 pick-me-up.
Then you go home.
Say these are your expenses:
- $3.00 Coffee - it's a very nice coffee.
- $2.00 Bagel
- $4.50 (#3 on the menu for lunch)
- Juice $3.00
- Gum & a Chocolate Bar $2.00
Total: $14.50
Holy Smokes! That's expensive. Would you notice how much money was being spent? Probably not as you paid for the items at different times.
Suggestion: Review what you spend your money on each day and you may find that it's those extra things that eat away at your income.
If you could reduce this $14.50 to around $5.00 by bringing items from home, you would have an extra $3467.50 lying around!
Now take a look at your shopping list. Lots of things are probably wasteful; try to cut down on these. Always look around to get the best value for money. Once again it might not seen much, but even a little bit can turn into a great lot of cash!
Finally, think about investing.
Say you start investing at age 25, you add in $1000 to start with, $10 each week, at 8.00%p.a. By the time you reach 60, that will be worth $107,859.35!
Or, say you start investing at age 25, you add in $0 to start with, $20 each week, at 6.50%p.a. By the time you reach 60 that will be worth $133,063.84!
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