As the 3
people who actually read this blog know, I am on a short path to early
retirement (target date of December 2021). And ever so often, my wife and I look
for opportunities to reduce bills and/or increase revenue. Our most recent
wins were:
1.
Eliminate
Cable/Home Phone: We recently got rid of cable and our home phone, buying fire
sticks and switching to Hulu and Netflix. Total savings? We went from what was
going to be $243 a month to $125 a month, or a savings of more than $1,400 a
year.
2.
Revisit
Insurance Policies: Insurance companies have no loyalties. We saved 25% by
switching care insurance (and then switching back) and 50% on home insurance.
3.
High Yield
Savings and CDs: I personally believe the stock market has a good ways to run
still, especially if a trade deal with China happens soon. However, Synchrony
Bank makes it very easy to hedge my bets with a 2.25% high yield savings
account and a one year 2.8% Certificate of Deposit.
There are
other ways to save money and generate additional income, so don’t just take my
word for it. The first step is understanding where your money is going and then
determining whether your spending is in line with your values. Let me know if I
can be of assistance….
No comments:
Post a Comment