To enjoy your vacation, you need to set up a vacation fund which in simple terms, is a bank account dedicated to this vacation. From your paycheck or savings, set aside little money to go towards your vacation. To make it easy, you can automate the deposits using your bank’s automatic deposits.

Alternatively, you can use a company called Acorns. Acorns connects your debit and credit card and round-ups all transactions that you make and invests the difference. For example, if you buy an item for $6, Acorns will take the $4 and invest it. It also accepts deposits of other amounts.

Provided you have started saving early, by the time your vacation date comes, you will have enough money to spend.

Quick Note

I advise people to budget their trip using the amount in this account. Also, I recommend that you start making your savings early and if you are married, you can combine the savings with your spouse.

Cancel Unnecessary Subscriptions

These days, there are subscriptions for everything. While some of the subscriptions are good, some of them are not necessary.


For example, BirchBox is a subscription service that sends you a box with samples of beauty products for $10 a month. While the service is good, is it really necessary?


Another example of a good subscription service that you can cancel is Purple Carrot. For $68 a week, the company delivers to you a box of plant-based ingredients and a recipe. It’s a good service, but one that you can do without.


Another example is a magazine subscription. Economist charges $87 for a three-month subscription. But, by subscribing to a service like Magzter, you get The Economist and thousands of magazines for as little as $10 per month.


Just have a look at all of your subscriptions and see the ones you don’t need and cancel them.

Don’t Take Gifts in Your Wedding

This method is especially for couples who are thinking of having a honeymoon after their wedding. During weddings, friends and family members are known to bring a lot of gifts, but often, they buy things that you don’t need.


To prevent this, you can use services like TravelersJoy and HoneyFund to raise money for your vacation.


In the wedding invitation card, you can have a link to one of your fund’s account where your friends will offer their donations.


In Honey Fund, more than $500 million has already been raised for a honeymoon. You can do it too.

Don’t opt for Peak Months

The rule of the thumb is if you want to make more savings travel during months that are not peak. During the low season, hotels and flights usually lower their price because of low demand. During that time, most beaches are usually empty.

For example, a vacation house that goes for $7,500 during peak season at Outer Banks, can go for as little as $2,000 during the off-peak seasons.

Travelling at this time will give you the flexibility to visit many places at half the cost you would spend during the peak season.

Book Economy

Instead of booking a first class or business class ticket, I recommend that you select the economy package.

I will illustrate it with an example. If you are traveling from New York to Nairobi using an Emirates plane, you will pay $943 in the Economy, $7,881 in Business Class, and $17,726 in the First Class.

Granted, the latter classes are more comfortable and offer more amenities than the Economy but, consider the amount of money you will save.

You can use the money you save to do other interesting things, including extending your trip.

Give Away Your House and Car

If you are traveling as a family, it means that your house and cars will be underutilized. But, there is a better way to do this.

For your house, you can rent it out to a stranger using services like Airbnb and HomeAway while for your car, you can rent it out using companies like Zipcar.

Using these services, you will be able to make money from your idle assets as you enjoy your holiday. Further, using their dashboard, you can monitor the amount of money you make and even transfer it to your travel account.

Supplement Your Income

After making your decision on the vacation, you can start saving by doing simple jobs that supplement your income. This could involve tasks like driving for Uber or renting your spare room using Airbnb.


It can also involve doing simple tasks like using Inbox Dollars or Transcribing using TranscribeMe or doing simple tasks in Upwork.


Since you have a full-time job, the amount of money you make using these platforms won’t be a lot. But, it will go a long way in supplementing your traveling expenses.


For example, if you can make about $500 per week, in one year, that will be $26,000 which is good money for a trip.

Quit the Gym and Yoga

Being fit is very important for your health. But, quitting the gym and the yoga studio workouts can save you a lot of money.


For example, in Los Angeles, YogaWorks charges up to $325 per month for Equinox charges up to $290 per month for gym services.


For your vacation, you can do away with these services and start doing your own routines. Mashable lists several websites that give you free access to training and Yoga videos. There are other apps like 30 Day Fitness Challenge, and Home Workouts give you access to free instructions that you can do at home.


So, if you cancel your YogaWorks subscription for a year, you can save about $4,000 which can go towards your vacation.

Sell Your Unnecessary Stuff

You see the old shoes you no longer wear? Or the old television set in your garage? Or the old car you no longer use? Or the spoilt air conditioner you replaced the other day?

All these things might seem unnecessary to you but useful to other people. You can sell everything you don’t need on Craigslist, Letgo, and even eBay for good money.

Just Do What You Love

Another way you can raise money is simply doing what you love. If you are an artist, paint. If you are good at pottery, do it and if you are good at sculpting, do it in your free time.

After doing what you love doing, you can sell your creations at Etsy, Amazon, and even Artfire. These platforms provide you with a place where you can list your handmade products and attract customers.

Final Thoughts

Vacations are not reserved for people who have a lot of money. With a little planning and some savings, no matter the amount of money you make every year, you too can enjoy the gift of vacation.

The strategy is to start planning early, being disciplined, and saving as much money as possible to enjoy during your vacation.

So how do you protect yourself?

Check if your bank can link your main checking account to your savings or possibly another account that you regularly keep money in for a rainy day. This may also incur a fee but much smaller than that of an overdraft. Additionally, some banks offer low balance alerts so that you are reminded that your funds are getting low. The best thing is just not to let it get so low, but we’ve all been there a time or two.

Your Way of Life

Believe it or not, banks all cater to certain demographics – once you find out what kind of consumer you are, you can search for a bank that fits your needs.

For instance, some banks work well with businesses, so if you want to start your own, look for a bank that fosters entrepreneurs. Other banks may be small (these are fewer and fewer these days) and you can get to know the tellers and customer service people that, once they know you, will be more likely to help you out in situations or give you advice. Get out of the car, walk into the bank, and get to know these people.

Charges and Fees

Most people want to keep most of their money that they earn and not worry about extra expenses. Banks, however, are in the business of making money and as such will charge fees for their services.

We all know it’s not going to be free, but as with anything else, it’s time to shop around based on the cost of holding your money. Some offer incentives like a lower monthly fee in exchange for sending your statement via email instead of regular U.S. Mail that costs them more money. Find out the associated monthly fees to help determine which one is best for you.

Credit Unions

Most people are familiar with the bigger banks that are practically on every street corner. But Credit Unions have a lot to offer and now days are easier to get into as you don’t always have to be affiliated with a group to get in.

And sometimes joining a group might just help you out – it can be that easy. These banks typically have lower fees and better programs that include loans. So, keep shopping around to find what suits you best. Look at Pentagon Federal Credit Union for instance.

They are an exceptional credit union, and take all members after passing a few requirements.

Technology

Banks today have become savvy in that they realize people are basically walking around with small computers in their hands. Because of this, accessibility becomes a huge option for people, especially millennials. Not all banks offer the same options when it comes to technology, so it’s something you want to know when considering a bank.

Can you deposit by scanning a check with your smartphone or can you just check your bank balance(s) online?  Being able to deposit a check by simply taking a photo of your check and uploading it can be intoxicatingly convenient. No more fighting traffic just to get to the bank to deposit a paper check! Even something as simple as text alerts might steer you in one direction or another.

Fine Print

As said before, banks are in the business of making money. You need to know and understand their terms and conditions. From the monthly service fees to even your ATM withdraws, these things can be costly and add up – and even sometimes catch you off guard. Also, remember to look for how the bank you choose is insured. If the bank goes under, can you get your money back and if so, how much?

Be sure to read through all agreements that the bank sends you that you must sign or acknowledge receipt of. Many times, this is where they can hide some fee pitfalls, or even where they might get “your permission” to run your credit once a month or whenever they see fit.

There are many considerations when finding that right bank. Take your time and look at all the options out there. Just like your favorite pair of jeans, there will be one that fits you well.

Create a Financial Plan

To achieve a goal of retiring early, you need a well-defined financial plan as early in life as possible. This plan should encompass your short and long-term goals and everything you want to achieve. While you can create the financial plan yourself, I recommend that you get services from an expert financial planner.

An experienced financial planner will look at your career, your current salary, and your ambitions and suggest a sound plan.

In the past, financial planning services were expensive and unaffordable to many Americans. Some planners charged more than $300 per hour to offer these services. That can be out of reach for some people early in their careers with young families to take care of.

Today, some companies like Learnvest have democratized the financial planning industry by offering remote planners at a lower fee. While some might not want to invest the money, research has shown that financial planning helps.

Start Early

To aid your quest in retiring early, I recommend that you start saving as early as possible. If you are a college student, perhaps consider doing side jobs, especially if it is something you enjoy doing. For example, if you love the spoken word, you raise money for events or Patreon. If you love graphic design, you can do it using platforms like 99Designs and Crowdspring.

Take some of that extra income, and put it in a high yield savings account.

Then, after college, when you get a job, start saving according to your financial plan.

Quick Notes

• It pays to ask your boss for a raise especially after working for a long time in the firm.
• Save the amount of money that you are comfortable with.
• Respect your savings account.

Be Prepared to Take Calculated Risks

You can take calculated risks early in life. For example, you can take the risk of starting a business.

If you look at some of the most successful people in the world, you will see the theme of taking risks. Bill Gates, Mark Zuckerberg, and Steve Jobs were in the best universities and had the potential of working with top companies like IBM. But, they took the risk of doing what they loved and started their businesses.

Even if you are employed, you can still take the risk of starting your own business. First, start the business as a side gig and only quit your job if the business seems promising. Second, be respectful to your boss and ask for a good recommendation, because you never know what the future holds. Third, start a business that you are passionate about. Finally, have enough savings to fall back to if the business fails to work out.

Make Extra Income from Side Gigs

There are hundreds, if not thousands, of opportunities to have simple side gigs to make extra income. Some of the tasks you can do are even enjoyable. For example, if you drive to work, you can make a few dollars by driving another person by becoming an Uber driver. If you have an extra room, you can make money by renting it out using Airbnb. In your free time, you can make a few dollars by answering questionnaires using Inbox Dollars. As you take an evening walk, you can make money by walking your neighbor’s pet using Wag.

You will be surprised at the amount of money you can make every month by doing some of these simple things. You can decide to use this money for your daily expenses or save it.

Quick Notes

• Always, give maximum priority to your main job.
• Always offer the best service to your customers.
• Build your brand by asking for quality reviews and ratings.
• Remember to pay the necessary taxes.

Passive Income

Another idea to earn extra income is by finding passive income ideas that will keep giving you an extra income with little effort. For example, you can invest in a handful of quality, dividend yielding stocks like Microsoft, P&G, and Boeing. I recommend that you do a lot of research to find quality companies and regularly monitor their performance. Alternatively, you can distribute money in several mutual funds, low-cost ETFs, and Robo Advisors.

Alternatively, you can write a book on a subject you are best at. Aim to be an authority in that field which will give you revenue in book sales and conference invitations.

Another option is to invest in real estate. For example, if you can afford it, you can build rental houses which will give you good money in retirement.

Simple Sacrifices

Sometimes, the best way to save is to think twice about big purchases. For example, the iPhone X was just released by Apple. Instead of rushing to be the first to buy the phone, you can wait for a while. By doing that, you will save some money because the price tends to fall a few months or so after launch.

Another sacrifice you can make choosing a sensible vehicle. Instead of buying a posh expensive car, or the newest SUV, you consider buying a quality used car for much less.

Another way to limit your spending is to assess your subscriptions and cancel those that are unnecessary. For example, if you are an avid New York Times reader, you might opt out of the All Access and the All Access package and go basic.

If you move from the All Access Plus and go Basic, you will save more than $2000 in 20 years.

In addition, when you subscribe to a product or service, always opt out when you no longer need it. For example, if you subscribe to a service that charges you $10 a month, that means in 20 years, the company will make $2,400 from you.

This recommendation does not imply that you buy inferior and low-quality products. It suggests that some less expensive products are usually better than expensive ones. By doing this, you can save a lot of money.

Final Thoughts

It is possible to retire early regardless of your current financial position. All it takes is a good financial plan, discipline, and simple sacrifices. These sacrifices should not make your life boring. In fact, you should live your life to the fullest and enjoy every little part of it. Just keep your eye on the end prize: retiring by the time you are 50!

Go to the Library

Your local library is likely to have lots to offer beyond the stacks of books you remember. These days you can check out movies (DVDs) and music (CDs), peruse magazines and even use the Internet. Check the library’s event calendar for some free activities. You are likely to find things like children’s story time, book clubs and author readings. You might just be surprised with all it has to offer.

Go to the Park

If it’s a nice day outside, the park is a perfect way to spend an afternoon. Take your entire family or go with some friends. I mean when was the last time you were on a swing or a jungle gym? Feel like a kid again and just have fun! Take a picnic lunch with you and just soak up the sun and atmosphere.

Watch the Sunset

When was the last time you took about an hour out of your day just to chill? Find a great place where you live to catch the sunset. You might be amazed at the painting in the sky and what view you get to enjoy. Go by the lake, up on the tallest hill or maybe down by the beach if you are lucky enough to have something like that in your community. The good news is that no matter where you go, you’ll likely to see something spectacular.

Play Board Games

Try a game night with family or friends. It’s a great way to have and be silly as you bring out the old favorites to play. Board games can often be found piled up in closets and if you don’t have any there, try your local thrift store. Or try having everyone invited to bring a game to share and play with everyone.

Pack a Picnic Lunch

Instead of going out for fast food or to a sit down restaurant, try packing a picnic lunch to enjoy with someone special. Find a shady spot at a park or by the lake and breath in the nature and less of the hustle and bustle that we have become accustomed to living. You can make this simple or elegant – it’s all about what’s already in the pantry and some quality time with those you care about.

Play Card Games

Staying home doesn’t have to be boring. Why not invite some friends over to play cards for a fun evening that cost basically nothing at all? There are many games you can play such as canasta, hearts, spades, bridge, pinochle, poker and the all popular with the kids…Go Fish! Don’t know how to play them? Search on YouTube for tutorials and everyone can easily learn.

Try Geocaching

If you are up for a good treasure hunt of sorts then this can provide hours of fun and not in just one weekend – this is ongoing for as much as you want to try and do. Visit Geocaching.com and fill out where you are going to be located for the weekend – you can start with your home address. You are looking for geocashes in the area to go find. The only thing you will need is a GPS device or smartphone (which you likely already have) and a sense of adventure. Use your device to guide you to the coordinates and begin your treasure hunt right outside your front door.

Visit a Local Nursing Home

This is something that the act of giving may end up being something you received more than you ever expected. Call up a local nursing home (can be assisted living as well) as see if they have a time or an organization that allows volunteers into the facility for visitation. Lots of their residents have no one to come visit on a regular basis and this can make it quite lonely for them. Just going to sit and talk with many of these older people not only makes their day but the stories they can tell about their lives may open a whole new world of knowledge for you.

Create a Family Tree

With the help of the Internet you can find all kinds of information on your family history. With sites like Genealogy.com, Ancestry.com and FindAGrave.com, along with some names and dates of family members, you might discover you are related to someone famous with a little effort and time. You can track down birth certificates and marriage licenses to help piece the puzzle of the past together. You might even locate where your great- great- great-grandmother is buried and go visit her grave. Just beware that you might uncover some family secrets along the way!

Take a Walk or Hike

As long as you are able to put one foot in front of the other then you are ready to get started on a local (or area) adventure. We suggest taking a look at local walking and hiking trails on the Internet so that you remain safe and don’t get lost. But the adventure among nature can let you discover some beautiful scenery and new areas to explore.

Watch the Stars

You will need to find an area with the least amount of street and city light. Country fields and mountain tops are some of the best spots but your backyard may be just as good or maybe even a local park. In order to go star-gazing you just need a nice clear sky and a blanket so you can lay back and scope out the sky. Interested in finding out what’s available to look at? Check out the American Meteor Society or download Sky Guide from your app store for more understanding on what you are looking for in the sky.

Volunteer at a Homeless Shelter or Food Kitchen

Organizations are always on the lookout for volunteers, so what better way than to help out in your community with those in need? Don’t know where to start? Try Volunteer Match – this organization will help you find opportunities in your area that are in need.

So the next time you think that there is nothing to do look back at this list to inspire that bit of fun you need. There really is no need to spend money you don’t have just to be entertained. It’s all about learning to appreciate the little things in life and enjoy the moments as they happen.

Time is Your Friend

John Bogle believes that if you want to invest in the stock market, the early you start, the better it is for you. In his book, John Bogle on Investing: The First 50 Years, he writes that any person who starts investing in his early 20s will likely have more money than one who starts investing in his late 30s.

According to Bogle, investing in the stock market is not as complicated as many people want to believe. He states that the key to success is to identify good companies that are fairly valued, that have signs of revenue growth, and those that are well-managed.

If you cannot do this type of analysis, Bogle recommends using index funds to invest. Of course, you would expect this kind of opinion from someone who founded Vanguard, the biggest mutual fund in the world.

Ignore Money Managers

Every day, we see money managers advertising their services on television. We also see them sharing their insights on the business section of the news. Bogle is not a fan.

Bogle advises investors to ignore money managers for two reasons. First, they charge high fees for their fees. Most advisors charge clients up to 2% of the invested funds. They then take a 20% cut from the profits.

For people managing billions of dollars, they don’t have the incentive to perform since they can make more than $200 million from the administrative fees alone.

Second, most managers have underperformed the market for years. So, why pay people steep fees to underperform?

For this reason, in a recent letter to shareholders, Warren Buffet said this about Bogle:

‘If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle.

Instead of money managers, he recommends investing in index funds that charge a little fee with no incentive fee.

Impulse is Your Enemy

According to Bogle, emotions are your number one enemy when investing. In many occasions, emotions will tell you to invest in a company that is trending online. In other times, they will ask you to sell your stakes when a certain level is reached.

In his book, The Clash of the Cultures: Investment vs. Speculation, Bogle advises people to have rational expectations when they make investments and to avoid changing the expectations in response to the noise coming from Wall Street.

Removing emotions from your investment process will make you make decisions which are based on facts and research.

Stick to Simplicity

Money managers want us to believe that investing is difficult. On television, they use jargon like arbitration and yield curve to make their case.

Bogle believes that investment is a simple process where one should allocate capital to stocks, indexes, bonds, and cash reserves for a rainy day.

He believes that an ideal portfolio should have stocks of simple companies that one can understand like Coca-Cola, safe bonds like those of strong companies like Apple, and cash. You will be placing your investment account at risk if you invest in companies you don’t understand.

Another way he recommends is buying low-cost diversified assets like ETFs and indexes.

Stay the Course

In the financial world, markets move up and down all the time. At times, the downward movements like during the economic crisis can take time. As an individual investor, you need to be aware of this and the need for perseverance.

John Bogle advises people to always stay the course and stick to their investment thesis. Exiting difficult investments at the wrong time can lead to significant losses in opportunity. For example, people who exited their investments at the height of the financial crisis missed an opportunity of making good returns after the crisis ended.

Long-Term View

A few years ago, Bogle wrote a book called Don’t Count on It. In this book, he advised people to avoid the allure of day trading but only to make investments with a long-term view. For starters, day trading is the strategy of buying and selling stocks within a few minutes or hours.

Day trading was widespread during the dot-com bubble where most people bought new dot-com companies and exited with a significant profit within hours.

Bogle advises people to avoid this strategy, but buy stocks and indexes with a long-term view. A look at the history of Vanguard shows that it has invested in companies like Coca-Cola and General Motors for decades. These companies have generated huge returns regarding capital gain and dividends.

My Thoughts

I believe that John Bogle is one of the best investors in the world. He has done so much for so many people, yet very few people know about him.

By following his investment advice and principles, you won’t make a lot of money in the short term. Vanguard’s returns pale the averages of some investment firms. However, they are the most consistent for any person looking to generate long-term returns on their money.

There is a lot of wisdom from John Bogle, and I recommend that you read his books, listen to his past speeches and watch his interviews.

ATM Fees

ATMs charge us pennies to withdraw money. However, if you regularly use an out-of-network ATM, you are losing money that you shouldn’t. A recent study found that these ATMs charge as high as $4.50 to withdraw money.

Unless it is very urgent, I recommend that you stick to using your bank’s ATMs, which charge less than a dollar for a withdrawal.

Make your own Coffee

We all love hanging out in a coffee bar especially when we are with dear friends. In the office, we love ordering coffee from the nearest coffee bar. Doing all this is good.

This year, purpose to prepare your own coffee. In fact, the average Starbucks glass of coffee sells for about $2.50. If you order ten cups every week, that comes to about $25.

What does that cup of coffee cost to make? 20 cents.

In fact, you will not be alone in this. Recently, Shark Tank’s star, Kevin O’Leary who is worth millions of dollars advised people against spending money on expensive cups of coffee.

Late Fees

This year, try to make all your payments on time. Making late rent payments, credit card debt, and even mortgages usually attract unnecessary fees. For example, most credit card companies charge you $40 for any late payment you make.

According to CFPB, every year, credit card companies make more than $10 billion from late payment penalties.

All this can be avoided by compiling all your bills and the dates you are required to pay and then paying on time. You can also automate the process of paying bills and loans so that every month, the funds can be deducted from your account.

Remember, late payment of credit card debt and other debts can affect your credit rating.

Using Uber Premium Packages

Uber is an exciting platform that has simplified how we commute. Uber’s app offers several packages that are targeted to different people.

In New York, the company’s packages include UberPool, UberX VIP, UberXL, Uber Black, and Uber SUV.

While we would all love using the best Uber, when you have to, use the cheapest Uber package. For example, a trip from Trump Tower to United Nations costs a maximum of $10 when using Uber Pool, UberX VIP, and UberX. A similar trip using the other three packages will cost you between $15 and $31.

Unless it is very necessary, I recommend that you stick with the basic packages. Better still, I suggest that you compare the prices of Uber and Lyft. In the above trip, using Lyft will cost you a maximum of $9.

Underused Subscriptions

How many times have you subscribed for a free trial and forgotten to unsubscribe? Several times?

Online companies love it when people start their free trials. Research shows that many people who try a new subscription service forget to press the unsubscribe button. They are then charged a monthly fee for a product or service they rarely use.

These bills can run up to hundreds of dollars every year.

This year, I recommend that you take time and audit all your subscriptions. Then, downgrade or cancel all subscriptions you rarely use.

Not Comparing Prices

Before the likes of Amazon and eBay, comparing prices was tough. You had to move from one store to another which was mostly not worth it.

Today, with Amazon and other e-commerce websites, you can easily compare prices before you buy anything. Better still, you can use several apps like Price.com and PriceBlink, to compare prices.

Remember, it has been documented well that companies like Wayfair, which owns many brands often price their merchandise differently. Slight research can help you get the better deal.

Excess Groceries

Do you know that most of groceries and vegetables in the country are thrown out as waste? Surprisingly, this happens in a country where millions of people are on food stamps.

You should avoid wasting your money on excess groceries. Instead, you should have a plan for all the groceries that you need and buy accordingly.

On this line, you should avoid using meal-kit companies like Blue Apron that send you proportioned meals. Research shows that using these companies is a bit expensive than buying in a grocery store.

Eating Out

How many times per month do you go out for lunch or dinner?

I agree the feeling of being served is usually good. Also, the experience of eating out is exceptional. Therefore, I am not proposing that you stop eating out.

Rather, I am suggesting that you limit the number of times you go out. Research published in 2016 showed that on average, most Americans eat out about five times per week. On average, a meal costs about $36.

This means, on average, they spend about $180 per week.

If you were to cook the food, the average cost would be less than $5. Therefore, I recommend that you limit the number of times you eat out and possibly invest the balance.

Gym Membership

Every month, 37% of people pay between $20 and $50 for gym memberships while 20% of them pay between $50 and $100.

Being a gym member has its advantages which include the morale and the energy that comes with it. It also comes with a trainer.

However, if you have been a gym member for years, you should now consider using your home gym and other forms of exercise. A house gym will cost you a few thousands of dollars, but it will save you thousands in gym memberships.

Ignoring Loyalty Points

Many companies, including popular ones like Amazon and Walmart, offer free loyalty points to their customers. The same is true for other organizations like banks and hotels.

Sadly, research by Adage found that most people don’t use or redeem their loyalty points. In total, they miss being part of a $100 billion industry.

This year, I recommend that you start using loyalty points when buying. Every year, this can save you hundreds of dollars.

Other things you should consider doing this year are:

Buying branded items. Research shows that you can save a lot if you purchase unbranded products. You can try a company called Brandless.

Impulse buying. You can stop this by carrying exact cash and setting and sticking to a budget.

Cut the Cable and only pay for TV channels that you watch.

Bottled water. Bottled water is not better than your tap water. You can save a few dollars by carrying your water.

Not using Airb&b for your extra room. You can make some money by renting out your spare room.

Research shows that most people can save thousands of dollars by easily adjusting their lifestyles. In this article, the goal is not to interrupt the quality of your life. Instead, the article highlighted a few ways you can save money by doing simple things that don’t let you live a lower quality life.

Share Entertainment

Millions of people are currently cutting the cable and moving to streaming services. Companies like Hulu, Netflix, and Amazon Prime Video have hundreds of millions of subscribers.

A study done in 2016 showed that 20% of people subscribe to multiple streaming services with the average person spending $10 a month on each service.

Subscribing to multiple streaming services makes sense. Who doesn’t want to watch House of Cards on Netflix, Handmaid tales on Hulu, and The Marvelous Mrs. Maisel on Amazon Prime?

Here is a solution. Team up with three friends or family members and subscribe to each of these services.

By doing this, you will be able to save $10 every month or $120 every year.

Make Your Own Coffee

An average cup of coffee at Starbucks costs about $4.

What you might not know is how cheap it is to prepare the coffee. In fact, the real value of the cup of coffee is less than 30 cents. Another thing is, the cup of coffee you buy at Starbucks is not different from the one you make at home.

So, if you make one cup of coffee every day, doing this will save you $1,460 every year.

Buy Cheap Wine

A study done in 2012 found that more than 60% of Americans buy wine. Another one in 2015 found that millennials are responsible for 50% of all wines bought in the country.

The average price of a bottle of wine is $37. However, studies show that the cost of wine does not determine its quality.

In fact, a study by the American Association of Wine Economists (AAWE) found that most cheap wines are better than most premium ones.

So, if you buy one bottle of wine every month for $37, you spend about $445 annually. If you decide to pay the recommended $15 for the same quantity, you will spend $180 and save $265.

Do your House Cleaning

We all hate cleaning our houses and doing the errands. To solve this challenge, companies like Angie’s List and TaskRabbit help us by providing thousands of people to do these tasks.

The average price of cleaning an average family home is about $120.

Let’s face it. If you want to save money, cleaning your house is not a difficult task. In fact, it takes less than an hour to do a thorough cleaning for an average home.

Therefore, if you hire these services once per month, you spend about $1440 every year. Doing your own cleaning can help you save on these costs.

Use AirBnB when Travelling

Hotel rooms are expensive. For example, the average price of a hotel room in New York is about $263 while that of San Francisco is about $273.

What value do you get for all that money?

If you are a regular or occasional traveler, you can save a lot of money when you decide to use AirBnb for your accommodations. In Airbnb, the average price of a spacious room or house in New York is $200, and that of San Francisco is $190. If you do your research well, you can book these rooms for much lower prices.

So, if you travel to New York once every year, using an Airbnb can save you more than $60.

Use Uberpool

The average distance of an Uber ride is about 12 miles.

So, when you are making these trips, I doubt whether comfort and luxury are your top priorities. You simply want to arrive at your preferred destination faster.

In most cities, Uber provides several packages such as Uber Pool, Uber X, Uber X VIP, Uber XL, Uber Black, and Uber SUV.

When you want to move from One World Trade Center to Trump Tower, an Uber Pool ride will cost you about $14 while an Uber SUV will cost you $73.

Do you really need an Uber SUV for this distance?

Therefore, if you take this trip once a month, using the Uber Pool will save you more than $700 annually.

Do your Groceries

Meal Kit companies are all over. What a typical marketing pitch companies like Hello Fresh and Blue Apron make is that using their services is cheaper than doing your own groceries.

On average, Blue Apron charges customers $10 per meal. A family plan option costs $60 for two recipes per week, which translates to $240 a month.

According to the USDA, a family of four with a moderate cost plan spends about $850 a month on food. This shows that in total, buying your own groceries will save you thousands of dollars every year.

Use Your Bank’s ATM

How many times do you withdraw money from your bank? Every time you do it, ensure that you use an ATM provided by your bank.

On average, the price of withdrawing funds from an off-network ATM is about $4.57. On the other hand, using your bank’s ATM will cost less than a dollar to withdraw money. Some banks offer these withdrawals for free.

Therefore, if you use your bank’s ATM once per month instead of an off-network ATM, you will save more than $50 per year on these costs.

Wash Your Car

Every year, more than 17 million cars are sold in this country. According to the Census Bureau, Americans spend more than $5.8 billion every year at car wash businesses every year. An average wash costs about $10.

Therefore, if you take your car to a car wash three times every month, you spend about $30.

If you are on a budget, you can save all this money by washing your car yourself. On average, you will take less than 30 minutes to do a good wash.

Doing this will save you $360 every year.

Give up the Lottery

We all want to win the lottery. On average, Americans spend more than $80 billion every year trying their luck. An average adult spends more than $300 every year on lotteries.

Let’s face it. Your chances of winning in lottery are slim. Statisticians put the number at one is to 292 million people.

Just give it up and save or invest the $300.

Wait Before You Buy a Phone

Smartphone companies like Apple and Samsung have almost become religious organizations to many people.

Every year when Apple launches its new iPhones, many people wait in line for hours to be the first buyers. Others pay thousands of dollars for people to wait for them.

Fact is, you can buy the same phone a few months after launch and save money.

For example, when Samsung launched the Samsung Galaxy Note 8, it listed the price at $950. Three months after the launch, you can buy the same phone for $650 on Amazon. That is a whopping $300 saving.

Use Amazon Prime

Amazon has become the biggest shopping company in the country. People love it for the variety, pricing, and speed of delivery.

Amazon offers Amazon Prime, a service that costs $12 a month. If you are an avid Amazon user, paying for this service will save you a lot.

For example, it will save you hundreds of dollars in shipping cost, music, and movies. On music, if you are a prime subscriber, it will cost you $2 less than when you are not a subscriber. Annually, that is a $24 saving, and you don’t have to subscribe to other music streaming services like Apple Music and Spotify.

Don’t Pay Trading Commissions

If you are among the 52% of Americans who invest in the stock market, you likely spend more than $4.50 per every trade. If you buy stocks or ETFs three times per month, that is $13.5 or $162 annually.

Luckily, there is a way of avoiding paying all these funds on commissions.

A company like Robinhood provides investing services similar to those offered by other brokers for free for an unlimited number of trades.

Using this company will save you, $162 annually and potentially make you more money since you will be investing more times.

Go for Unbranded Products

Assume you are given two similar t-shirts. One is unbranded, while another one has a Hugo Boss logo. The unbranded t-shirt sells for $20 while the Hugo Boss t-shirt sells for $50. Which one will you choose?

A good number of people will go for the $50 t-shirt. The assumption is that the Hugo Boss t-shirt is better in quality than the unbranded one.

This assumption is mostly wrong. Remember, most t-shirt companies source their products from Asia, and the quality is usually the same.

Studies have shown that buying unbranded products can save you more than 25% of the total cost.

Cancel Subscriptions you Rarely Use

Online companies use a trick to get you sign up. They offer you a free monthly trial.

The problem is, most people forget to press the unsubscribe button when they finish their trial. For example, many people will start a free trial for WWE during the WrestleMania event in April. After this, the subscription costs $10 a month.

If you don’t unsubscribe, it will cost you $120 annually for a service you don’t use.

To solve this problem, you can use a company like Trim, which helps you manage your subscriptions.

Bottom Line

In total, using this strategy will save you more than $6,000 every year without affecting the quality of your life.

When You Get a Cash Windfall

Do you play the Powerball lottery? Or, do you invest in stocks?

One of the riskiest time for your finances is when you win the lottery ticket and get your sweet dividends, or when you get your work paycheck. Research shows that you are likely to overspend during this time.

Tip: Whenever you get such a windfall, I recommend that you first take your time to budget. After making the budget, I suggest that you deposit funds in a fixed deposit account, which you can’t access with ease.

When You Receive a Promotional Email

Every day, you likely receive tens of emails from companies you have visited before. Some of these emails will give you discounts on products and subscriptions.

Be very careful about promotional emails that promote limited-period offers or those that give a discount to a certain number of people. These emails are intended to create a feeling of urgency. In marketing, they call this the principle of scarcity. They are made to tempt you into buying products you don’t need instantly.

Tip: To solve this issue, I recommend that you always unsubscribe to promotional emails. You can do this by email or by an application like Unroll.me or GetUnsubscriber.

At the end of a Bad Day

Most of us start our days just fine. But, by the time we are leaving the office, things tend to go south. Getting yelled at by a tough boss, missing a sales target or even getting stuck in traffic.

Research shows that you might be tempted to shop during this time. Researchers call it the HALTs trap. HALT is an acronym for Hungry, Angry, Lonely, and Tired.

Tip: During such a time, I recommend that you stay away from the shopping malls or addictive shopping sites like Amazon, eBay, and Nordstrom.

After a Bad Breakup

Occasionally, when you go through a hard breakup, you might be tempted to go shopping to show your former partner how well you are doing.

Other times, you might think of getting rid of everything that reminds you of your partner. Ideally, this is usually a good thing if you want to move on.

Tip: If you are on a budget, you can try other things that do not cost money to move on.

After Getting your Loan Approved

Getting a loan is often difficult. However, when you receive the funds into your account, there is usually a sense of freedom.

Like I mentioned above, when you receive such a windfall, you should avoid the idea of going shopping. Doing this will tempt you to spend the borrowed money in ways you didn’t intend to.

Tip: When you take a loan, I recommend that you use the funds to pay for the item that you had intended to. Always remember that this money is not yours and you will be required to pay it back.

When Under Influence

What’s the correlation between alcohol and spending you may ask? A recent study by Finder found that people who drink regularly end up spending more money on spontaneous shopping.

The study found that the average cost of drunk spending was more than $200. Reason? According to the study, being high on alcohol tends to inhibit your thinking which leads to poor judgment.

Tip: So, any time you are going out to party, I recommend that you carry exact cash and leave your credit cards at home. This will be one way to prevent overspending.

Around Holidays

During the holidays, we all find ourselves wanting to buy more. The best holiday clothes, the best gifts for our loved ones, and traveling the world.

Companies understand all this and tailor their promotions to catch your eyes during this time. Studies show that impulse buying is usually done more during this time.

Tip: While it is possible to make huge savings during these holidays, I recommend that you buy only items that you really need and those that you have budgeted.

When You are Traveling

Often, when you are taking a long trip, you find yourself stopping at a gas station to either refuel or take a rest. During the stop, you might be tempted to go to the convenience store to buy.

This is wrong because most items sold at these stores are often higher priced than those located in ordinary places. You will find a can of Monster beverage that costs $1.3 on Amazon or in a local store, selling for more than $2 in these stores.

Tip: Instead, I recommend that you plan your trip ahead of time and buy your items either on Amazon or in a local department store.

When You are Broke

This should be a no-brainer, but often it’s not. When you don’t have enough money, I recommend that you stay away from shopping. A credit card will often give you a false picture of your finances.

In the country, credit cards are a real problem. Data suggests that in total, the credit card debt is currently at an all-time high, while delinquencies are increasing.

Tip: To avoid being caught up in this situation, I recommend that you take time to plan your finances and avoid unnecessary spending.

After Making a Large Purchase

Every time you make a large purchase, the seller will try to incentivize you to buy more. For example, when you buy an expensive sofa, the seller will likely recommend that you buy seat covers or even a carpet.

When you buy a new car, they will recommend that you purchase add-ons like a new music system or a new car tracking service.

Tip: To save money on all this, I recommend that you always stick to your shopping plan. Also, I suggest that you stop following the recommendations from the sellers. They just want you to keep spending and spending.

Financial stability is possibly a goal you should always have. Achieving it is never easy. It demands a bit of sacrifice like avoiding shopping at certain times.

Keep Your Current Job

If you have a job with a steady source of income, you should avoid the temptation of quitting to start your business.

Instead, you should work on your business idea while working in your new job. This will be tough, but it is impossible to succeed in business without making the sacrifice of time.

Keeping your job will give you an opportunity to work on and refine your business idea while having a regular flow of money to pay your bills.

Alternative Sources of Funds

As you keep your current job, you should also strive to find other sources of money to supplement your regular salary.

Fortunately, there are many ways you can do that. For example, you can drive for Uber, answer simple surveys using Inbox Dollars, answer simple trivia questions using HQ Trivia, and rent out your house using Airbnb.

These tasks will give you good money to start your company. In fact, some successful entrepreneurs like Oprah, Warren Buffet and Mark Cuban started their companies with money made from odd jobs like delivering papers.

Cut Costs by DIY

When starting a company, you will often find it useful to outsource some duties like logo and website design.

Sadly, some of these tasks don’t come cheap. A professional logo design can cost you hundreds of dollars while a good website can cost you thousands of dollars.

Instead of spending money on all this, you can do it yourself. You can create a website for free by learning WordPress or by using companies like Wix and Weebly. You can also use free online platforms like Logomkr to create your logo.

Simply said, you should do your best to do things yourself instead of using subcontractors.

Do your Research

A common problem I see with many entrepreneurs is starting businesses without doing any research.

For example, recently, a friend tried to start an online marketplace where people could buy movie and sports tickets. To him, this was a good business with no competition.

After sharing his idea, I showed him all the companies he would compete with, the price he would need to pay for online ads, and the barriers to entry. Understandably, this was not music to his ears.  After a few days, he came up with a new, simpler and less competitive business idea that he is working on.

Before you start your business, do your research. Ask yourself these questions:

• What makes my business unique?

• What are the customer acquisition costs?

• What is the size of the market?

• Which companies will I compete with?

• Do I have a patent for the business?

Start Small

Starting a business is like planting a seed. Farmers plant a seed, water it, and wait for it to bear fruits.

All companies you see around started as seeds. Years ago, Steve Jobs started Apple as a small company. Mark Zuckerberg started Facebook as a platform for college students to communicate.

As an entrepreneur, you should start small. Build your product, start selling to people close to you, get feedback from the customers, and implement the feedback.

If your product is good, these people will start referring other people to the product and before you know it, it will be a really big company. This is how all companies start.

If you start small and your product sells well, you now have a proof of concept. Now is the time to grow the business by attracting funding from family, friends and external investors.

If you have a good and unique business, people will always want to invest in it. They will either offer you debt or equity financing. In the former, they will give you a loan, while in the latter, they will become shareholders of your business.

In our country, investors are always searching for companies to invest in. I recommend that you reach out to venture capital firms like Google Ventures, Accel Partners, Andreessen Horowitz, and Greylock Partners among others. You can also give Shark Tank a try.

Another alternative to venture capital is crowdfunding using sites like Indiegogo and Kickstarter.

To get investments, you should do the following:

• Present your business in the simplest way.
• Tell investors about the problem you are solving.
• Talk about your competitive advantage.
• Tell them about your patents.
• Describe your growth strategy in clear terms.
• Give investors a fair value of your company.

Quit Your Job and Grow

If you had not quit your job, now is the best time to do it. To do this, I recommend that you send a respectful resignation letter to your company and explain to them why you are doing this. Thank them for giving you a chance.

Bottomline

It is possible to start a successful business from scratch. In fact, people who start businesses with a lot of money tend to fail because of complacency. Remember that starting a company is often a slow process. It took years before companies like Google and Facebook started making money. Therefore, if you are to become successful, you should have traits like being patient, perseverance, and hard working.

Establish Goals

You hear emergency fund and know that means putting money back, but what, and how much, does that mean exactly. An emergency fund is going to look different from person to person.

Depending on your budget, income, and other necessary expenses, so you need to establish goals that you want to meet. If you want to have at least $500 set back every month to put into your emergency fund, then figure out how much you need to put aside each pay period to make that happen.

Start off by taking a long hard look at your budget, figuring out what is and is not feasible for you financial. Then, start off small by saving $20 to $50 per week, depending on what you can handle. Once you get used to the idea of putting money back from each paycheck, then you’ll be able to start accruing money to build your emergency fund.

If you’re nervous about transferring money from your checking to your savings, or are afraid that you’ll consistently forget to do it, you can always set up an automated transfer each pay period. That way, you’ll know for a fact that you’re going to be setting aside a certain amount of money each paycheck for your fund. And, after a while, you’ll get so used to putting back the money that you won’t even realize it’s been moved.

Cut Out Excess Expenses

Emergency funds are contingent on several things, budget, payments, and the daily ins and outs of life. If your budget and your monthly payments allow for plenty of wiggle room to create an emergency fund, but you can’t seem to find the extra cash to do so, after indulging during the week? Maybe it’s time to reevaluate the things that are necessities, and things that are just there for enjoyment.

Now, everyone needs something that isn’t home or work related that brings them joy in their life. Maybe that’s a cup of coffee on the way to work or ordering take-out on Friday nights or going out for a night on the town with friends every Saturday.

These things are all well and good in moderation. But, if you’re eating out more than you cook at home, or your entire weekend is dedicated to spending money, and you don’t have enough to put back into savings, then it’s time to cut back.

Only go out with friends one night of the weekend, cut down your lattes to three a week, and just eat out on Fridays. Things like that can make all the difference when you’re trying to build up savings.

Use It Only for Emergencies

One of the most common problems that people have with building emergency funds isn’t saving money, but the actual spending of the fund once it’s there.

After a few months of putting back $200 to $500 per month, you’ve accrued a nice chunk of change, and your natural inclination is to plan your next big trip or buy that higher priced item that you’ve been wanting for a while. But that isn’t going to save you when you need the added cushion that your emergency fund was meant to help you with.

It’s important to remember that your emergency fund is just that, for emergencies. You never know when you’re going to need it for expenses you can’t foresee, like getting laid off from work or major car repairs. Keep your emergency fund separate from your “play” money. You’ll be glad you did if anything ever happens.

Keep Your Money Growing

Even if you’re not the biggest fan of keeping large sums of money in a bank, keeping your emergency fund in a bank savings account will actually work out in your favor in the long run.

When opening a savings account, most banks offer incentives for continuing to keep that account up and running, such as offering interest rates for the account. So, if you deposit $500 and it gains a 2 percent monthly compounded interest, at the end of the year that $500 will have grown to roughly $1,700. Imagine the savings you’d accumulate if you continued to put back $500 into that account monthly.

Making sure your money is put into an interest gaining savings account is a simple task that, in the long run, will bring your emergency fund from decent to something you can definitively count on.