The first step to saving money is setting a goal.
The NYTimes profiles Chris Reining blogger at mreverydaydollar.com.
“I was living the 9-to-5 life, and I would look at other people at work and see that they were 30, 40 years older than me and still living the cubical lifestyle,” Mr. Reining, 36, said of his 29-year-old self. “I didn’t want to be living that life. It was this feeling of being trapped and not being in control, being enslaved to a job, being enslaved to my possessions.”
Mr. Reining set his goal of having $1,000,000+ in his retirement/investment account by age 35. The NYTimes describes him as a “super-savers”.
Like food dieting to lose weight, money-savers are creating their own freedom. Nowadays, maintaining a budget and saving money is easier nowadays because we budget tools and easier ways to find discounts.
Technology and budgeting tools can help people 1) set budget targets 2) easily track the targets 3) nudge people when they are over-spending in areas. These tools can help us meet our goals the same way the fitness trackers like Fitbit help us.
$1 saved today is worth a lot more in the future. Of course, it’s important to include entertainment and vacations into one’s budget.
We use: Citi bank’s financial tool which sends us weekly and monthly alerts.
What do you think?