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Reduce Your Spending |
- Know what you are spending your money on now – fixed and flexible expenses
- You don’t have to spend money to show your love for children
- Small amounts add up quickly
o $5 a day on coffee/treats for children (5 days a week) = $1,250 a year
o Investing the same amount in an IRA (8% a year) after ten years = $19,127
- Taking both little steps and big steps can help you save
o Donate used items to charity rather than selling them at a garage sale
o Never spend a windfall
- Resist our culture of spending – when you buy something you aren’t “saving” money
This handout was produced by Think Small (www.thinksmall.org).
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