Losing money is never a good thing, or at least in the eyes of most sane people. Nevertheless, losing money on various daily expenses can actually save you big in the long-term. We’re going to show you how you can save a lot of money going forward by not falling for the tricks our minds, and retailers, play on us.
Paying for College
Parents that setup a college fund for their children at a young age are doing a smart thing. They realize that the price of college when it’s time for them to actually start college involves them paying far more than they would if they already had a fund setup for them. Don’t saddle your loved ones with enormous debt by failing to plan ahead.
The house is the biggest expense you are ever likely to have. Those who fear mortgages and making a big commitment early are set to lose out later in life. For them, it’s best to take out a mortgage when they’re young because that’s what will get them the best mortgage rates. Furthermore, the reality is it’s almost impossible to get a mortgage when you reach a certain age. In addition, another thing, the earlier you pay off your house the more of a chance you have to continue to climb the housing ladder later.
It’s easy to look at something that costs $9.99 and assume we’re getting a good deal. We look at it and we think we are making massive savings, even though we’re only actually saving a cent per purchase. When we look at offers, we get even more confused. However, the reality is this is all a trick to get us to buy more of something we weren’t going to buy in the first place. It’s why people spend so much on food. They fall for the games the supermarkets play.
Life insurance is something that many of us groan over. Young people, especially, wonder whether they should be taking out life insurance in the first place. After all, surely this investment can wait until later on. Not the case at all. Spending money on life insurance now will save you money later on premiums. It’s always much cheaper to spend money on life insurance now to save your wallet later. Those who take out life insurance when they are already in their 50s are in for a nasty surprise
Pay Now Don’t Pay Later
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