Comments on: Top 5 Easy Ways To Save Money That Anyone Can Do

By: Odd Lot

Odd Lot — Fri, 01 Aug 2008 04:10:58 +0000

Great post! Here’s one that has saved me a ton of cash and helped me build a lot of net worth on someone else’s dime over the years.

If Your Company Offers Free Money, Take It
Would you like to get an instant 125% return on your savings plus a bigger tax return? Many company have 401k Matching programs of up to $5,000. This means that they’ll match you dollar for dollar on every penny that you contribute. That’s a 100% free return for any money that they agree to match.

In addition to this free match, all of your 401k contributions reduce your taxable income so you will get a bigger tax return next year. If you’re in a 25% tax bracket, you avoid that 25% tax on every dollar you contribute. If you’re not contributing, I can promise with 100% confidence that you can contribute at least 2 or 3% of your income without even noticing the difference.

For example, if you bring home $2,500 per month and decide to contribute 3% to your 401k to take advantage of this free money, you will still bring home $2,425. What do you get in return? 125% instant gain on your money plus a bigger tax return. The average return on the S&P 500 since 1975 has been 10.75% so a 125% return is a pretty good deal. (keep in mind that this article is about “painless” ways to save, I would normally recommend contributing a much higher percentage. You should contribute at least as much as your company matches, it’s free money!)

Great post, thank you for all the great tips, I’m always looking for more ways to save. (-:
Cheers!

By: Mrs. Micah

Mrs. Micah — Tue, 11 Dec 2007 00:30:13 +0000

One big difference I’ve found in sleeping temperature is shoulder covering. If I wear a sleeveless shirt (doesn’t have to be spaghetti strap, just no sleeves), I feel a lot cooler than if I wear a t-shirt. So in the summer I have a couple sleeveless tops to sleep in so I’m cool enough at night. And simply switching to a t-shirt keeps me nice and warm in the winter. Sometimes I have to add another blanket too…but we have a lot of those.

By: Raymond

Raymond — Mon, 10 Dec 2007 20:05:02 +0000

Yeah it doesn’t make much sense to drive too far out of the way for gas, but if the gas maps can take you to a station along your regularly scheduled path, why not go for it?

Along the same lines, I used to have a Costco membership but gave that up because the nearest location was over 20 miles away. The cost savings couldn’t justify the premium I paid to travel such distances to save a few dollars and cents.

By: Honest Dollar

Honest Dollar — Mon, 10 Dec 2007 17:05:24 +0000

Given high gas prices, #3 is a good idea. But it shouldn’t be taken to the extreme. Whenever my boyfriend and I went hiking in upstate New York, which required us to drive through New Jersey for a stretch, we’d see dozens of cars with New York plates lined up to pump gas in Jersey. This is above and beyond finding the cheap local pumps. These people probably wasted more money in gas, time, and effort going to Jersey and back than they would have sticking to New York pumps, driving less, and using the free time not spent in Jersey brainstorming other ways to save money.