Five Penny Pinching Tips

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So many people dream of being a millionaire and retiring with a healthy bank account, but how many people will actually achieve it? Very very few. This is mostly due to lack of discipline in building up their retirement fund and poor spending habits. While building a retirement fund requires time, you can accelerate the process by making incremental but positive changes in your spending habits. Here are fice ways that you can change your daily lifestyle for more positive results in your spending habits:

1. Have you ever noticed how much time you spend sitting in front of the television?  Besides, the time you free up can be used for more useful tasks such as teaching your kids or learning a new skill. Turn the television off and unplug it when you aren't using it. In fact, all household appliances should be unplugged when they aren't in use. Its the best way to keep your electric bill low and save energy.

2. If you are an avid reader, use the public library whenever possible. There is no need to buy the latest books from bookstores like Borders unless it is in a category that does not fit into a public library. The public library will usually acquire popular titles after some times. Learn to be patient. If you aren't into the public library, try an online merchant that has used books available for literally pennies on the dollar, like Biblio.com.

3. Use a bicycle if the destination is within 30 minutes by car. If you can reach your destination within ten minutes by car, consider leaving the car behind and walk instead. You will save money on gasoline and parking fees. This can easily add up to a few thousand dollars a year. Obviously one of the other benefits of this is health and fitness! This helps promote blood circulation in your body and also reduces environmental pollution. You can also save on gasoline and parking fees.

4. Dine at home more frequently. You can experiment with different recipes and save some money at the same time. In addition, you are honing your cooking skills and this could be very useful for the home dining experience. Remember, the money you spend eating out daily adds up over time. If you eat out 2-3 times a day at $7 or so per meal, you'll spending $14-$21 PER DAY! Can you afford it?

5. How much does your daily coffee at Starbucks cost? Bring your own coffee to office. Many people like to drop by a Starbucks or similar coffee outlet and end up spending a few dollars or more on a cup of coffee. You can potentially save many dollars each week just by making your own coffee at home and bringing it to your work place in a Thermos. Besides, who knows, it may taste better than the coffee from Starbucks! If you really cannot live without Starbucks coffee, consider getting a Starbucks rebate card. You can use the rebates to redeem free Starbucks coffee after you have accumulated enough points.

These five ways are a good start for changing unhealthy spending habits. However, you should continue to research and incorporate more healthy habits that contribute to the building of your retirement fund. By re-investing the money saved from using these tips, you will be many steps ahead of your peers and closer to your retirement goals.

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