How to Save Money

Esther Sherry, R.N.,B.S.
Esther Sherry, R.N.,B.S., Yahoo! Contributor Network
Sep 13, 2010 "Share your voice on Yahoo! websites. Start Here."
saving money is very important these days. The recent recession has forced many people to rethink the idea of saving money. These three simple steps will help you save money well each month.

Instructions

Things you'll need:

  • IRA
  • 401K

1. Maximize your 401k or IRA contributions. These will enable you to save money each month. Deposits to your 401k or IRA are usually deducted from your paycheck automatically. If your company has a 401k plan, take advantage and maximize your contributions. If you do not have a 401k or IRA, put aside some money every paycheck and deposit the money into a savings account or money market account

2. When you get a raise, save the entire raise instead of increasing your spending habits. This will enable you to save more money in the long run.

3. Shopping smart can also enable you to save money. Buy seasonal items out of season. For example, buy winter jackets during summer. Pay cash for everything you buy especially very expensive items.

Tips & Warnings

  • Save every penny, quarter, dime or nickel in a piggybank. When the piggybank gets full, deposit the money in a savings account

Published by Esther Sherry, R.N.,B.S.

Esther Sherry is a registered nurse with extensive experience in health and wellness. She holds a B.S in nursing, B.A in psychology and has worked for more than five years in the healthcare field. She enjoys...  View profile

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