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Steps to financial freedom

HappyAndFree

HappyAndFree

New member
These are some of the things I've done to help achieve financial freedom, control my money rather than having it control me and worry a lot less:

1. Took at look at Internet, TV and phone bills, decided what I really needed, the minimum Internet speed I need for HD video streaming. I cut my those monthly bills about 30% and I have zero impact to my lifestyle.

2. Increased my 401K contribution in baby steps. First I increased it by 1% for 6 months. After I was used to this, I increased it another 1% for another 6 months. I'm about to increase it again.

3. Shopped around for lower rates on my car insurance. Also, after I had some money set aside I no longer needed to pay it monthly, so I saved interest charges by paying in full every 6 months.

4. Every time a light bulb burnt out I replaced it with an LED bulb.

5. Have a written budget. This should be #1 on the list actually because its the most important thing! If you don't know where your money is going you can't control it.

6. I used coupons at stores. Online I use ebates.
 
These are some good tips. A lot of people forget about internet/cable bills. I decided to do away with my cable so I can get better internet. I hardly watched TV and I have a smart TV with Netflix so no need for cable anyways. Anything else I can find online and watch. I ended up saving $35 a month just doing that.
 
Compare, compare, compare. Don't assume that because its a place that is usually cheaper that its going to be cheaper on everything. Yesterday I was looking at getting some shop towels at Amazon last night, and checked Walmart.com --- they were 60% less!
 
Don't increase your spending habits if you get a raise at work. Use it instead to pay off debt and increase savings.
 
Keeping a budget is something I wish I learned to do in my teens! I look back with such regret. My first job, I earned around $25,000 in total and had I been more budget aware, I would have likely been able to save over half that!!
 
I actually started looking for better insurance that was better for my budget and I am quite shocked by my results. It turns out, I can be paying $30 less a month with slightly better coverage. I am going to switch soon as this 3 month cycle is up.
 
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