How to save $10,000 in 6 months

first_imgHardly a month goes by without some report or another stating that Americans aren’t saving enough for retirement. It’s a sad state of affairs, but it is also one that doesn’t have to be inevitable, at least not if you are smart. There are easy ways to jump-start the savings process. Here are some ideas that will generate savings of an additional $10,000 in six months. 35SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Quit smoking ($2,000). As if the health benefits weren’t already obvious, the monetary savings could be spectacular as well. “Some people spend thousands of dollars a year smoking,” says Jack Ablin, chief investment officer at BMO Private Bank in Chicago. In New York, where cigarettes cost $12 a pack, the potential to save a lot is substantial. A pack-a-day habit would cost more than $2,000 over six months. Cut the cable cord ($546). “Get rid of cable and get a Netflix (ticker: NFLX) subscription instead,” says Eric Marshall, president and portfolio manager at Hodges Capital in Dallas. Subscriptions to cable TV, especially those that include live sports, can cost a lot. Figure on around $100 a month for a top-of-the-line subscription, versus $8.99 for a streaming-only subscription to Netflix. That’s a savings of up to $91 a month, or $546 over half a year. continue reading »last_img

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