A Simple Way to Save Money

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Today I want to talk about some simple budgeting ideas that might help you save some money.

But first, let me ask you a question. The question is, how do you as a 401k or 403b participant become a 401k superhero to your future self?

That is the question, and these videos will give you the answers. Hey, I’m Jonathon Schultheiss and welcome to the Becoming a 401k Superhero videos.

One of the tips I talk about in my book, FOCUSED, The Financial Freedom Formula, is using electronic tools like Mint.com.

Mint has great tools that will allow you to track your spending, and also be able to measure your past spending to see where your money has been going.

The other week I was messing around on the website for my credit card and I noticed some of the same tools. I even noticed where I could set alerts on my credit card website that would tell me when I spent a certain amount of money for the month.

I could even see where I was spending money, and on what. I could see how much money I spent on gas for my car and how much I spent going out to eat that month.

So here is my tip and idea for you.

Either use mint.com or the website for your credit card and I want you to look at the last three months of how much you’ve spent. This is going to give you the pattern of where your money goes every month.

I bet you are going to see things that shock you and you’ll be surprised at how much you spent on some of these things that you had no idea.

For instance, I was surprised to realize just how much I was spending on going out to eat.

Now I want you to take those two or three things that you were shocked about, and I want you set a goal to reduce them next month.

When I realized how much I was spending on going out to eat, I set of goal of eating at home more, and drinking water instead of soda when we did eat out. This saved me a ton of money.

So, I’m not telling you that you need to give up the things you love, I’m just saying to put a little more thought into saving money.

Here’s the thing, most people have no idea about how much money they spend on things. And when you take a second to think about it, you could save some additional money.

And when you save additional money, that’s money you could add to your retirement plan, or put into your emergency savings account, or even use to pay off debt.

And when you do any of these things, you are truly becoming a 401k superhero to your future self.

If you want to learn more about this idea and others, then click on the link above and download a free copy of my book, FOCUSED, The Financial Freedom Formula.