A 59-year-old woman sought financial advice from Dave Ramsey after selling her home for $518,000 but having no retirement savings. Ramsey advised her to downsize to a cash-purchased home for $200,000 and invest heavily in her retirement nest egg.
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Millions of households could be overpaying on their household bills. Now is the perfect time to check your mobile and broadband bills to avoid paying more than necessary. One Martin Lewis fan managed to reduce their bills by an impressive £660 per year by switching providers. Remember, it’s a no-brainer to compare deals and switch to a better provider if you’re out of contract. However, if you’re still in contract, ensure the savings outweigh any exit fees. Here are three speedy steps to help you slash your mobile phone bill: Use price comparison sites, MSE’s Cheap sim finder, or companies like Uswitch and Confused.com. For broadband, anything over £30 per month is too much unless you need a superfast connection. Virgin Media offers a fast 132Mb broadband for £20.95 per month on an 18-month contract. If you’re on benefits, you may qualify for social tariffs as low as £12.50 per month for 15Mb broadband. Don’t hesitate to haggle with your current provider if you’re happy with their service but want a better deal. Be firm, prepared, and time your request strategically.
Saving money is an important part of your wealth-building journey. It not only ensures you have cash to fall back on when emergencies arise, but it also allows you to make larger purchases and afford the kind of lifestyle you aspire to have in the future. However, many people are interested in saving more, but they don’t always want to change their lifestyle in order to do it. According to the money experts of Kiplinger Advisor Collective, that doesn’t have to be the case. Here are some little (but effective) ways anyone can easily save money each month without compromising their overall lifestyle or sacrificing joy.
Vanessa, a personal finance content writer, shares valuable lessons she learned about saving money after having access to unlimited pocket money. She emphasized the importance of setting financial goals, understanding the value of money, and developing self-control. Vanessa highlights the need to prioritize needs over wants, track expenses, and seek professional guidance when necessary. Through her experiences, she discovered that true financial freedom comes from conscious spending and responsible decision-making.
Hakan Karahan, a 34-year-old man, has been living off-grid in the wilderness for the past decade, saving a substantial amount of money by building his own home and living off the land. He now claims to save around £100 per day and has accrued a total of £365,000 in savings.