5 Ways to Simplify & Save/Invest More

1. Get out of debt or avoid getting into it. Unless you can invest the funds at a higher rate (never a guarantee), the interest that you will pay on debt is money down the drain. A key to a sound personal finance strategy is to avoid debt as much as possible. It will simplify your life, and allow you to save/invest more (ideally in safe dividend value investment stocks that will provide you with passive income that will help you reach financial freedom).

2. Go out to eat less. Several meals at a fancy restaurant can cost the equivalent of a week's worth of groceries. Develop a realistic, but strict food budget, and then stick to it. Simplify the foods you buy and eat on a regular basis. Prepare bulk food/meals in advance. You will be more conscious of what you are eating, and will likely not only save money, but also improve your health.

3. Cancel unnecessary subscriptions and other monthly services. Have a strict entertainment budget and stick to it. The odd are that you rarely or don't at all use several subscritptions that you have, such as your third streaming service, that audiobook subscription you have, etc.

4. Reduce your utility bills. This can easily be done through being more self-conscious. Don't use your air-conditioner or heating as much. People almost never need to use those things as much as they do. If it's hot, use a fan. If it's cold, wear a sweater. Obviously, there are also other ways of adjusting that don't require air-conditioning or heat. Further, reduce your use of water and electricity in other ways. Make sure that you have a full load of laundry before you use your washing machine or dryer, or even use a clothesline to dry your clothes. Shorten the time you spend in the shower. Use your sprinklers as little as is necessary to keep your lawn healthy. Make sure to turn off all lights and other electronics when not in use. These changes may seem cumbersome and the savings trivial, but you would be surprised at how these things add up. You could end up savings hundreds of dollars a month, and in any case, as Benjamin Franklin would say, "A penny saved is a penny earned."

   
   
   
   
   
   

   

   
   

5. Focus on doing interesting things instead of owning enviable things. Instead of trying to own the fanciest and most expensive house/car/etc., focus on doing your dream activities. Traveling to a country you have always wanted to or learning a new skill or language is almost certainly going to be cheaper than buying the most expensive house or car that you can afford. You are likely to achieve more lasting satisfaction from those activities as well.

If you implement the above 5 suggestions into your budgeting plans and make them a part of your personal finance program, the amount of money that you will be able to save and invest will increase substantially. If you invest the savings in safe dividend value investment stocks, your passive income will increase enormously, and you will be that much closer to reaching financial freedom.