10 Ways to Spend Less and Save More!

You probably already know that remembering to flip the lights when you leave a room can save money in the long run, but what are some other not-so-common techniques that people are using these days to save money? These are 10 ways that people are spending less and saving more.

Get Permanent Makeup

It might sound a little ridiculous, but if you find yourself applying makeup every morning, wearing it throughout the day, wiping it off at night, and waking up the next day only to repeat the process all over again, it may make financial sense to just get permanent makeup. Tattooed eyeliner is rising in popularity as a makeup solution for those who tend to wear it on a regular basis.

Move Your Graduation Date Closer

If you happen to be in school, then you probably know that the longer you stay there, the more it’s going to cost over the long term. If you’re currently at part time status, try moving yourself to full time to reach your graduation date more quickly.

Garden Instead of Buy

Why buy vegetables and fruit when you could simply grow them for much cheaper. What’s even more cost effective is to become a vegetarian and live entirely off of your garden.

Flush Less Often

You may have heard of your grandparents doing this in the “old days,” but as it turns out, granny and gramps were onto something. Flushing only for bowel movements not only saves on electricity, but it dramatically lessens the water bill.

Double Your Recipes for Leftovers

Instead of cooking just enough to fill everyone’s stomachs with nothing left behind, cook in surplus so that you can have leftovers for the next few days. This will save you loads, and it will eliminate the need to have to dig into other groceries.

Detach from Bottled Water

Bottled water seems feasible when it’s marketed properly, but it is possibly one of the biggest wastes of money in grocery and convenience stores to date. Buy a water filter and bottle your own water at home if you can’t seem to shake the “bottled” habit.

Put Away 10 Dollars a Week

It probably wouldn’t hurt either to start putting $10/week away into a shoebox. $10 is an increment that most people can afford, and you probably won’t even notice that you’re saving due to the low commitment level.

Combine Cell Phone Plans with Relatives

If you’ve ever been a part of a family cell phone plan, you probably noticed that everyone saves more when there are more people on the plan. This is why it’s financially wise to bring close and distant relatives all onto the same plan so that everyone can save money.

Learn to Cut Your Family’s Hair

Haircuts are expensive, and this is especially true if you’ve got a large family that constantly needs trimming. Instead of shelling money out seemingly all the time, learn how to give basic haircuts and you could save as much as hundreds if your family is big enough!

Share Internet Subscriptions

Lastly, share internet subscriptions and split the cost between the users. Movie subscription services often allow unlimited users and devices to stream, so why wouldn’t you share this kind of service?

Overall, there are limitless ways to save all around you. Try incorporating a few of these tips into your daily routine to see how much you can save!

8 Important Considerations For Investing Money Short vs Long Term

There is a lot to think about when you create an investment strategy. While you want to be prepared for long-term goals such as retirement, you want to make sure that you have enough liquidity to weather any short-term dips in the market. What are some of the most important issues to consider when creating your investment strategy?

1) What Is Your Time Horizon?

It is important to understand your time horizon when investing your money. For those who are retiring shortly, you want your money in conservative investments that guarantee a steady income. Investors who are younger may want to invest in aggressive investments that offer larger returns over the long run.

2) What Is Your Risk Tolerance?

Your risk tolerance will help determine where you put your money. Anyone who hates risk may want to look toward bonds and CDs that offer low but guaranteed returns on your investment.

3) How Much Do You Have To Invest?

To invest in a mutual fund, you may need as much as $10,000 to use as an initial investment. If you don’t have a lot of money to invest, you should look at individual stocks or index funds that have a lower investment threshold.

4) Is The Money Going Into A Retirement Account?

If your investment income is going into an IRA or 401k, you can avoid paying any short or long-term capital gains taxes. Investors investing through a private account should consider selling bonds or other securities before they hit their distribution date if you wish to avoid paying taxes on securities that you haven’t yet cashed.

5) Are You Financially Literate?

Financial literacy goes a long way toward determining where your money goes. Those who understand the market can bypass brokers who will levy steep fees to help you manage your money.

6) How Liquid Do You Want To Be?

Those who are looking to get their money back shortly should look to stocks and bonds that can be redeemed on demand. Investments such as CDs and savings bonds are considered to be not liquid because they take years to mature.

7) What Types Of Investments Are You Considering?

Where do you see yourself putting your money? Based on your time horizon you could be better off investing in growth funds that are heavily weighted toward smaller companies with more potential to increase your return. Investors looking to get out of the market quickly may want to consider larger companies that will return a more predictable return on your investment.

8) Who Will Manage Your Money?

Fees paid to a stock broker or fund manager should be considered whenever you make an investment decision. While a 2 percent fee to have someone manage your money may not seem like a lot, it can add up to thousands of dollars in lost money over the life of your investment portfolio.

Investing is never an easy proposition. You need to know your time horizon, your comfort level when it comes to reading the market and your tolerance for risk. Once you figure that out, you can start investing for the long-term without hurting yourself in the short-term.