Saving Big
Sunday, January 14th, 2007
Different strokes for diff’rent folks - that’s the name of the game for saving more. Gurus like David Bach talk of the “Latte Factor” - how cutting down on small daily splurges can add up big time. While this is true, it does require a regimen of discipline; of not giving in to little extravagances.
And that can be really difficult. Peer pressure, for instance; do you want to be a party pooper when friends or colleagues are heading out for a cup, or a beer together? No, you don’t. But then, your mini-savings plan goes down the drain.
Instead, think big. Where are the big expenses in your monthly budget - where money goes out in a big chunk? Chances are, the largest single expense items are housing, transport, groceries and toiletries, and vacation or entertainment expenses. Making a one-time change here can pay off big; bigger than your daily cuppa.
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