Not surprisingly, Ideas for Saving Money turns up 164 million results in a Google search. Saving money is important to everyone, whether they are looking at their personal life or company expenditures. A surprising number of Americans do not understand basic financial concepts that affect their everyday life, and this can affect their ability to save. Here are four tips for saving, and making, money.
1. Only about 50 percent of Americans invest in the stock market right now, and this number could be much higher, especially considering that stocks are hitting new highs almost daily. Stocks are one of the best ways to get a return on your money, since stocks, on average, offer their investors 10 percent returns every year. This is ahead of inflation, bonds, and other methods of long term saving.
2. Finance video tutorials can help teach you the financial basics. This includes information on concepts like debt obligations, tax planning, and loans, and also tips for investing in the market. Did you know, for example, that most traders hold onto good stocks rather than engaging in quick, rapid fire sales? Finance video tutorials explain that most investor profit usually comes from company dividends, rather than the buying and selling process.
3. When you need help with saving money, look at your day to day expenditures and see how they add up over the course of the year. Three dollar coffee every morning might not see like a big indulgence, until you add it up and realize that the average American spends more than a thousand dollars on coffee every year.
4. For individuals who have difficulty overseeing their finances, online financial management can be a good investment. These programs allow people to keep track of expenditures and budget for vacations, new furniture, rent, et cetera. Getting your finances in line is often the first step toward saving your money.
