How to save in the USA: 10 unusual ideas

Saving for retirement or for a financial cushion doesn't have to be difficult. To do this, use the advice from US News & World Report.

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Convince yourself that saving money is easy

There is so much spending on our budgets that putting off money for retirement may seem like the last priority. This is a very dangerous way of thinking, as only half of employed people participate in the pension plans of their company, according to The Pew Charitable Trusts. But what if we change the perception of postponing money - just as we learn to eat healthy food instead of harmful snacks? We could accustom ourselves to the healthy habits of saving money and save for our retirement simply by using these unusual savings methods.

1. Do not press on the gas

"Tests by Edmunds.com have shown that you can get more miles on the same amount of fuel by switching from aggressive to more relaxed driving," says Kara Reynolds, manager of Sum 180, an online financial planning service in Louisville. state of Kentucky. If the average American spends approximately $1960 per year on fuel, that would be a savings of $686 per year. Overcome the urge to be the fastest rider on the road and put the money you save into a savings account.

2. Cook in a slow cooker

If you dine too often in a restaurant because you are tired and do not want to cook at home in the evening, look for recipes on the Internet and find a couple of minutes in the morning to download the ingredients to your multi-cooker. Until the moment of your return you will have a ready dinner. By rejecting one restaurant dinner worth 50 dollars a week and instead eating homemade food (costing 2 dollars per person for a family of four), you will save 2184 dollars a year, Reynolds says.

3. Build your rental income

With websites like Airbnb and Craigslist at your disposal, it's much easier than ever to rent out a room or part of your home. Consider converting your basement into a studio apartment and rent it out for $600 a month. That works out to $7200 a year, says Carla Dearing, CEO of Sum 180. Do you have land near a horse stable? Consider renting it out as horse pasture. “Three horses for $150 a month is 4500 a year,” says Carla.

4. Buy mid-week groceries

"Midweek sales usually start, and if you have a list of groceries ready, you won't buy on impulse," says debt relief lawyer Leslie Thain of Melville, New York. Write down how much you'll spend before you go into the store - this will help you avoid going overboard. “This greatly reduces impulse buying and adds to your retirement savings,” she says.

5. Take care of a healthy marriage

Divorce is expensive. “Marriage is a long-term commitment that begins with the words “I agree.” Once you say, "I don't agree," not only will your marriage end, but your net worth and retirement savings will take a serious hit, says Kevin Smith, founder of Smith, Mayer & Liddle, a Janney Montgomery Scott consulting firm in York, State. Pennsylvania. “Focus on improving the quality of your marriage and do everything you can to overcome the inevitable difficulties inherent in every marriage.”

6. Do not go to all serious

If you have a bad habit that you can't break, match it with your savings. For example, let's say you are trying to quit smoking. Assuming cigarettes cost $7 a pack, “the average smoker can spend $2555 a year on cigarettes. Assuming savings compound 8% per year, saving the same amount for retirement over 30 years would turn into $289,” says Smith.

7. Cut the cable

Some TV channels can also be received via an antenna. “For people who want to eliminate all unnecessary expenses, there is this way to save a decent amount - cutting off the cable or satellite transmission of channels. This allows you to take the dollars you save and put them into long-term savings, such as a Roth IRA or savings for your children's education, says Jared Snyder, senior financial advisor at Exencial Wealth Advisors in Oklahoma City.

8. Turn your hobby into extra income

If you love animals, consider providing pet care services using online services such as DogVacay, performing random tasks through TaskRabbit, or selling collectible exhibits through eBay, says Deering. Easy additional work using your talents can also generate income - for example, writing texts for blogs or working as a nanny, working with a charitable organization, selling your own handicrafts on Etsy or holding courses in the sports complex, says Tein.

9. Play with envelopes

Buy a set of envelopes and label each one for all your monthly expenses and hobbies. Add another one for retirement savings, then create a budget and add money to each one. Greg Parady, CEO of Parady Life & Annuity in The Villages, Fla., told of a client who divided money between 23 envelopes, including expenses for restaurants, car insurance, rainy days and golf for her husband. “They never made much money, but they are comfortable in retirement and now travel the world together,” he says.

10. Create your own jackpot

If you're frustrated that you can't win the lottery but still hope to do so, consider turning the money you spend on lottery tickets into retirement savings. “Given an 8% annual savings rate, $10 saved per week would become $7 over 957 years, $10 over 25 years and $655 over 20 years,” says Smith. If you still need to buy lottery tickets, try saving as much in a retirement account as you spend on a ticket—and compare the two “investment” methods regularly.

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