Many people don’t even try to learn to invest money because they think they are unable to afford to invest and that investing is purely for the rich who have nothing better to do with their money. This however is usually not the case. Below are a number of ways you can free up income that can be invested for the future.
It is estimated that over 50% of mobile phone users are on the wrong tariff. Do you use all of your monthly call allowance? People are often drawn to sign up for the more expensive tariffs that are offered with the latest all singing, all dancing handsets when in reality it would often prove much cheaper to opt for a much cheaper tariff and simply buy the handset separately. If you can trim just £20 per month off you mobile bill then straight away you have freed up £240 per year to invest.
Utility bills can also offer the chance to cut down your monthly outgoings. By turning down your heating thermostat by just one degree can save you as much as £50 throughout the year.
Other tips include turning the lights off when you leave the room, only filling the kettle with the amount of water you want to use. Washing your clothes at 30 degrees as opposed to 40 or higher is another idea now being publicised by washing powder manufacturers.
Other ways to save may be to make your own lunches and coffee at work. Four cafe bought coffees a day from one of the big chains at £2 each works out to £480 over a working year!
All of these things mentioned above sound small on their own however you only have to do a few sums to see that if you do all of them you can save considerable amounts of money with which you can then invest.