5 Smart and irresistible tips to save an additional $50k
It is already quite difficult to save few hundred dollars at the fag end of a month. Some of the households can’t even save a single penny. So, you may think that it is just impossible to save an additional $50k even after a year. Yes, it is true that it is a difficult task to save such an amount after a month or a year. But it is possible to save an additional $50k within a span of few years. Glance through the article to know about 5 tips that may help you save $50k within a few years.
Smart and fascinating tips to save an additional $50k
Here are the few smart tips that may help you save an additional $50,000.
1. Have only one car: Do you have multiple cars at your home? Does your family really use all the cars? If you think calmly, you may find that your family seldom uses all the cars. In such a case, you can ask your family to travel by bus. You can keep a single car and sell the others. This way you can save thousands of dollars on your car insurance, repair, and maintenance over the years.
2. Use low maintenance cars: Calculate the total amount you spend on your existing car (insurance premiums, oil, maintenance, etc.). Now look for the cars that can be maintained and insured at a low price. You can trade your current car with a low-maintenance car. This will help you save minimum $4000 within 5 years. It will be even better if you use a car that consumes less fuel. You can ask expert and know about the car models which are fuel-efficient.
3. Use thermostat in your home: You can use a thermostat in your home to reduce energy consumption. This will help you lower your electricity bill by as much as 10%.
4. Purchase store brands: You can purchase store brands as several private label products are not offered at the premium price. So, you can download discount coupons from the store websites and use them when shopping groceries. This will help you save nearly 25% on your grocery expenses which is not a small amount of money.
5. Drive within speed limit: You may think how driving cars within speed limit can help you save money? But there is a subtle relation between the two. Studies have shown that driving cars within speed limit can help drivers save nearly $600 on fuels. So, drive slowly so as to avoid accidents and save money.
Finally, if you love eating out, then you can search for the discounts which are offered online by several restaurants. These discounts can help you have the foods (costing $25) at only $3 dollars, which means you can save $22 on the meals.
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