Saving Money

Everyone wants to save money, and everyone thinks that it is not possible. Throughout this blog I will putting ideas to save money, they will not be easy to do and won’t be enjoyable but these Ideas will save you $100 to $300 a month. That is almost a car payment or even a months rent and everyone loves to have that extra money. So here it goes, hopefully this helps and if you disagree and agree with anything I say I do want you to comment and let me know your opinions.

Cut some bills, got Netflix? ($11) Cancel it, high-speed internet ($50), lower the speed, high dollar phone (50$-$200), demote your phone and plan. Just doing those three things just lowered your overall bill approx. $80 or $90. If saving almost hundred dollars is in your New Years resolution then there you go.

Stop eating out so much and lay off of the fast food. One reason to stay off the fast food is, its unhealthy for you and it’s expensive. Most people will argue saying its not that expensive but it really is. Let’s go to McDonalds, get two Mcdoubles and A large soda, that is $4 for that meal. THAT IS CHEAP.. it is for that one meal, but say you go there everyday for lunch when you work. So you work five days a week, four dollars a day, that’s $20 a week, $80 a month/$960 a year. That’s a lot! If you want to save money at work buy a loaf of bread and a container of peanut butter. $1.98 for a loaf which will last that week, and $2.98 for the peanut butter that will probably last two weeks. So you take the #1.98 for four weeks and that is $7.92 and $5.96 for the peanut butter for the month. That is a total of $13.88 a month/167 a year and that makes a savings of $66 a month/$792 a year, no complaining in that. It will suck not getting that nice McDouble  but it will give you an extra tank of gas or if you drive a car two tanks. Think about all that traveling and extra splurging you can do for your girlfriend.

So far if you cut everything I have mentioned (I know it sounds very difficult) you have just saves anywhere from $140 to $150 a month or $1800 a year! WOW! I won’t complain to much for eating bread and peanut butter, that’s great grains and pretty good protein. Now it’s time to talk about the lowering the phone bill. The one thing that everyone hates, is running out of data at the end of the month, I know I do, but one of the bigger expenses we have are the phone bills. I am guilty of this, but I want the newest phone that comes out, or the new smartwatch, and that is super expensive. Lets look at signing a contract with AT-T and getting the new IPhone 7. Okay, so 10 GB of data is $100 a month, then you have the NEXT program which means you can make payments on your phone until it’s paid off. So IPhone 7 is  $749, split that between 12 months, 60.75 or even if you do the 24 months is would be 30.37. So right there is $160 a month/$1,920 a year and that’s not covering the taxes, fees, and insurance on your phone. You always go to Walmart, go to the electronics section, select a $49 smartphone and a $45 Straight Talk card, which is 5GB of high-speed, I know that doesn’t mean like much but most public places now have free Wi-Fi for people to use with no sign up.  So instead of paying $1920 a year for that service you will be paying $540 a year a savings of $1380 a year.

Okay, I know that most people will read this and think that this is impossible and pointless because no one will eat bread and peanut butter for a whole year, but what I am trying to get across is that if you are complaining about not having enough money to do this or that, but you are walking around with the newest phone or eating out five days a week, then you can save that money and still survive on less. The amount of money that you will save for doing all this is incredible. It will be very hard, I don’t want to do it, I don’t think I could, but now that I saw that I will be only be paying $60 a month for food and phone bill and saved $2172 a year, I might consider it. Just think, you put what you save every month into a savings account that has a 1% interest a month in you will be placing 181 a month which would be this:

  • Year
  • Balance
  • 1
  • $2,364.80
  • 2
  • $4,570.54
  • 3
  • $6,798.44
  • 4
  • $9,048.72
  • 5
  • $11,321.60
  • 6
  • $13,617.32
  • 7
  • $15,936.10
  • 8
  • $18,278.18
  • 9
  • $20,643.79
  • 10
  • $23,033.15
Final Savings Balance: $23,033.15
      I just want to show that in 10 years you have just saved 23k a year, I know it doesn’t seem like much, but it is better to have that in a savings account for when ever you need it for a rainy day instead of not have money due to blowing it. If placing it in a savings account is something you are not into buy stock in a company you know that won’t fail. I recommend placing it in Samsung, Wal-Mart, or Apple. In 10 years you could own a lot of stock in a big corporation and sell it for a whole lot more then you put it into. Imagine that you bought 23k of stock in Wal-Mart, each stock is $70, so you just purchased 328 shares from that company. Now imagine that the stock jumped up to $150, you sell all 328 shares, guess what, you just brought home $53,700! Yes, I know, stock can also fall, but as of right now, I do not believe that Wal-Mart will crash, but I am not a investor and you should not take my advice on what company to invest in.
     Thank you for reading this and I hope you see that eating out and having the newest phone out on the market is a wallet killer. I hope this helps some people and if you have any questions don’t hesitate to comment and I will do my best to help you out.
     Musically yours,
     Shelden Walker

 

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