Reduce Expenses

If you haven’t provided sufficiently for your retirement, it is obvious you need to cut your expenses. Even if your financial planning is perfect, the loss of your regular income is likely to be a psychological shock. You can decrease this shock by reducing your spending. Defer any major expenditure e.g. a new house, auto, computer, or video equipment. This is especially critical if you … Continue reading Reduce Expenses

Know your spending habits

To save you need to know what you spend on. A budget cannot succeed without an understanding of where money goes. Most budgets fail because they depend on ideal situations rather than real spending habits. As you gather the information over months and years, you will get an idea of how you use or misuse money, and plan to avoid the mistakes. * Keep records … Continue reading Know your spending habits