5 ways to help save money and secure early retirement

In a report published by Forbes magazine, writer Alexandra Talt said that there were a number of decisions taken by some of their company owners to ensure early retirement, and indicated that although some ideas may seem strange, it is useful to know what the experts recommend.

1- Everything is saved until you spend it
Savings should be discontinued as only what exceeds the list of expenses, and adopt an approach that everything is saved until you spend them.

In other words, most people set their budget and then use what exceeds this budget as a basic saving rate, while saving is to start at 100%, and every moment you spend money you subtract from the first rate.

This, as the author says, helps you to easily identify areas of life that need to be changed to achieve your goal.

For example, if your goal is a 50% savings rate, but the moment you pay your car premiums, the starting point drops from 100% to 60%, know that the car is an obstacle to that goal.

2- Talk about your financial habits
The author notes that one of the best ways to learn is to summarize in education. According to Maple Nunez, founder and director of the investment office, Gillers On The Money, you should better explain your financial weaknesses and explain your financial habits to someone close to you.

In this regard, you will not only understand spending habits and savings better, but the listener may give you some constructive criticism. In other words, get rid of complacency, and look for cash to improve your financial position.

3- Live frugally
Christie, who retired early, explained that when she started her career after graduating in 2006, she bought herself a high-quality used car, which she paid for in full (less than $ 5,000) in order to go to work. All of its flights took more than 1.5 hours to go both, from Monday to Friday.

Kristi noted that she is not ashamed that she is still driving the same car to this day. She is also confident that this major decision has allowed her to save and invest thousands of dollars over the years.

4- Adopt the floor
The writer touched on the need to understand how much money would be wasted by moving to a larger apartment. Therefore, starting to donate and get rid of unwanted things may be a good idea, with a pledge not to buy anything that was not necessary, and that would contribute to saving a lot of money for rent.

5- Automatic savings
The writer stated that one of the financial leaders decided to prepare new payroll statements at work - that's when he was in debt and struggled to save some money - until part of his salary went directly to saving, so he would never feel that he had got that money to spend. Sam started with $ 50 of the salary, but you can start with whatever amount you want, depending on the author.

And if you are making profits at the beginning of the year, challenge yourself to live on what you achieved last year, and save as much of your new money as possible.