Free money? Does it exist?
Sorry but the answer is no, there is no such thing as free money. However, these are ways to find money you never realized you ever had.
Take this, for example, I go to work on a bus service and every morning I buy a cup of coffee and some biscuits at the café near the bus stop. During the day I might buy a few things at the café down the street for lunch, or for afternoon tea. Then I go home.
Say these are my expenses:
- Coffee $3.00
- Biscuits $2.00
- Sandwich $4.50
- Juice $3.00
- Tea $2.00
Total: $14.50
Quite expensive, but you might not notice it during the day as you pay for them.
Look over what you buy each day and you may find that it's quite a lot of those extra things that really impacts your budget.
If you could reduce this $14.50 to around $5.00 by bringing items from home, you would have an extra $3467.50 lying around!
Now take a look at your shopping list. Lots of things are probably wasteful; try to cut down on these. Always look around to get the best value for money. Once again it might not seen much, but even a little bit can turn into a great lot of cash!
Finally, think about investing, even banking. This is long term investing, like a superannuation fund.
Say you start investing at age 25, you add in $1000 to start with, $10 each week, at 8.00%p.a. By the time you reach 60, that will be worth $107,859.35!
Or, say you start investing at age 25, you add in $0 to start with, $20 each week, at 6.50%p.a. By the time you reach 60 that will be worth $133,063.84!
See that you don't need any money to start off with. Lower interest rates are more reliable but yield less in the long run. High interest rates will give you lots of money but are less secure. The more money you put in per week the better, but it doesn't have to be a lot of money at all.
I hope this helps!
