It’s a lesson in not falling into the standard of living creep trap as your income rises."
“Put your savings in a high-yield savings account!
I was over 40 before I realized this.
I sat on that money for years in a traditional savings, earning little interest.
It makes me so mad that I didn’t know about it then.
I ended up putting it off until I was about 30. axj66
3.
“Take advantage of 401(k) plans offered by employers.
Most offer a ‘match’ which is basically free money added to the account by the employer.
Always put in at least how much the company will match.
if they match the first 5% you put in, then put in at least 5%.
“If/when you switch jobs, do NOT get tempted to just take the money out and blow it.
And time does move faster the older you get…”
Anonymous, 49, Missouri
4.
“Many banks will let you open extra accounts for no cost and maybe even link them together.
u/Theta_Zero
6.
“Paying for services annually instead of monthly.
you’ve got the option to often save 20-30% by paying annually.”
It’s a lesson in not falling into the standard of living creep trap as your income rises.”
“I have three no-spend days per week.
Right now, theyre Monday through Wednesday.
I ensure to stock up on groceries, gas, etc.
I wont even buy a coffee on no-spend days.
It has helped slow my spending down significantly.”
Anonymous
10.
My dad saved every penny he ever earned and got his house and car paid off early.
He worked 60+ hrs a week when he was younger and never had any fun.
He regrets it now because he has this money that he can’t really use to travel and whatnot.
So my advice is to take 5% of your yearly salary and just have some fun.
Money isn’t everything.
“‘Invest while you’re young.
It’s the only time you might afford big risks.’
u/AdrenolineLove
12.
“Diversify your income sources as much as practical.
“Invest in index tracker funds rather than actively managed funds.
“Debt is borrowing from future you.
Savings is lendingtofuture you.”
u/zonination
