A good thing about savings though is that you can plan on it in your home without having to go out and use gas or dress up. It requires you to take some time to comparison shop, clip some coupons, and do a a little homework on prices.
You can also budget in categories a little higher than you normally pay as a starting point and see how much you can save on each item. When you are at work, you're paid an hourly wage and as some have said here are taxed for it in social security and income tax. For some, state income tax. Say if you have a normal bill that is $75.00 ( i.e. electricity) and you wanted to take it down 10%, you would only have to shave off $7.50 which would bring it down to $67.50. That's a 10% savings and what most would like to get on their investments. Those are doable things. It makes it a game to see how you can save in a lot of different categories that will give you a savings that hopefully you're saving or investing it in a long-term investment.
Last edited by Aleta : 03-02-2007 at 10:57 AM.
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