Tip of the week: How to start saving money
Use cash; Think domestic; Switch IRAs
Use cash. It’s tempting to “whip out a credit card” to pay for that morning cup of coffee, but that’s also a good way to rack up debt. Use plastic for monthly bills and big-ticket purchases, and stick to “cash and cash only” for everything else.
Think domestic. It’s easy to cut costs at home without making major lifestyle changes. Unplug “energy vampires,” such as TVs and computers, when they’re not in use, and switch to energy-saving fluorescent light bulbs.
Switch IRAs. Though you don’t pay taxes on contributions to a traditional Individual Retirement Account, you will eventually have to pay them when you withdraw funds. Instead, consider a Roth IRA: While contributions aren’t deductible, they “grow tax-free”—no matter how much is gained through stocks, bonds, or mutual funds.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Source: Family Circle
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
-
A history of Guantánamo Bay
The Explainer War of Terror's 'symbol of torture, rendition and indefinite detention' is subject of new Serial podcast series
By The Week UK Published
-
5 fun Easter activities from The Week Junior
The Week Junior Easter Activities Looking for some fun, simple Easter activities to do with the kids? Look no further – The Week Junior has you covered with these five fun and family-friendly activities.
By The Week UK Published
-
A Taste of Honey: 'wonderful' revival remains 'vital and relevant'
The Week Recommends The 'period-perfect' production features a 'universally excellent cast'
By The Week UK Published