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5 Tips to Cut Spending and Stretch Your Retirement Savings - SimpliFi
Financial success in retirement comes down to making your money last. And, if you spend less of your money, it will last longer. We’re not here today to tell you to drastically alter your lifestyle post-retirement so your money will last a few more years. Instead, we offer these 5 quick and easy tips to help rein in your spending habits. Some are quick and easy to implement. Others require a bit more discipline. But one thing is certain; do these, and you’ll save money. (You don’t even have to wait for retirement to use them.) 1. Pay With Cash Stop swiping your card for every transaction. Start paying with cash. Someone might ask, “Why? I’m still spending money and it’s coming out of the same bank account; isn’t it?” The difference is psychological. When you pay with plastic, or click the “download” button on iTunes, you don’t feel the pain associated with giving up your money. Companies know this and have been brilliant at making the act of purchasing products and services easy and effortless. 2. Cancel Sales Notices and Email Deals The allure of “30% off!” or a limited “2-for-1” deal can be hard to pass up. But, would you have bought it in the first place? Retailers are masters at creating need. By offering you a good deal, they know that you may be buying an item that you might otherwise have lived without. That’s why you want to eliminate the temptation at the source. Do yourself [...]