Smart Saving Techniques

My Saving Story

I've always found ways to save money in general, but it was not until 2017, when I was forced to flee from my town home because my next-door neighbor’s home caught fire and the two adjacent units including mine had severe smoke damage. Although I was uncomfortable living in a hotel for the next eight months, I was able to save on all of my utilities payments, and some food costs as well. The savings on cable, internet and my home phone alone saved me $2,200 and not paying my average $1,200 in electric costs during that time saved me even more, especially during the winter and summer months. I had more savings too, but just think about it for a moment…. What would you do with an added $425 a month in your checking or savings account?

After we got settled, I started looking for other ways to save money, but I really didn’t get serious about fine tuning my expenses until 2020, when I started to think about possibly retiring in 2023. Well, that’s what my finances and expenses told me. So, I got to work by lowering other costs, but not my comfort! 

Well, Fast forward to 2021, I dug in my heels and started to really lower all of my costs and I’ll share my strategy, my checklist of things to consider that allowed me to focus on budget, pad my savings, and invest a little more so that I get closer to my perfect retirement costs a year sooner than I planned, and I was able to set up a personal stock investment portfolio outside of my retirement account that as of today totals $40,000!

Since you’re here…. What’s stopping you from taking action today?

Why Saving matters?

 The Finanical Education Instructor in me will tell you that... Saving money is a fundamental pillar of financial health and security that empowers individuals to navigate life's uncertainties with confidence. By setting aside funds regularly, you create a safety net that can safeguard against unexpected expenses, such as medical emergencies or job loss, helping to reduce stress during turbulent times.

Moreover, saving allows you to pursue long-term goals, such as homeownership, education, or retirement, ensuring that you can enjoy the lifestyle you desire without being burdened by debt. Additionally, accumulating savings can provide opportunities for investment, enabling your money to grow over time and further enhancing your financial well-being. Ultimately, cultivating a habit of saving not only fosters greater financial stability but also instills a sense of discipline and purpose that can lead to a more fulfilling life.

 Ways Dollar-Strategies Can Help You: 

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By implementing these smart saving techniques, individuals can steadilybuild their emergency fund throughout the year, enhancing their financial stability and peace of mind.

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The Free Dollar-Strategies Budget Workbook is more than just a budgeting tool - it's your first step towards financial independence finding ways to save. Download your free workbook now! 

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In this community, we provide a supportive and collaborative space for members to come together. Our focus is on budgeting, saving, investing to build a foundation for financial success.

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