Simon Constable of U.S. News offers readers seven tips on how to save $10,000 in just 6 months. Some of these ideas are geared not only toward generating savings, but overall health improvement in general.
The money expert recommends that individuals quit smoking ($2,000), cut the cable cord ($546), and cancel gym memberships ($348).
“Regularly exercising is a good thing, but if you are paying for a gym membership without using the facilities, then you are burning cash, not burning calories,” said Constable.
Constable recommends delaying a new care purchase. Not only will one save about $1,800, but this will also free the individual from paying monthly care payments.
Other tips include skipping the daily latte purchase ($900), making lunch ($348), and contributing to a 401 (k) plan.
According to Constable, “Typically, an employer that makes a contribution “matches 50 percent of employee contributions for the first 6 percent of salary that an employee contributes,” according to the Smart401k website.”
Summary Post from U.S. News
Constable is an economics/financial markets commentator. Currently, he writes the monthly “In Translation” column for The Wall Street Journal, and a weekly investments column for U.S. News & World Report. He also contributes regularly to Barron’s, TheStreet, Fortune, Forbes.com and other publications.
Prior to becoming a full-time economics journalist/commentator Constable worked in a variety of strategy/advisor roles for major corporations.
His first book, The WSJ Guide to the 50 Economic Indicators that Really Matter, won an economics category award in the 2012 Small Business Book Awards at Small Business Trends. It has been translated into multiple languages. He authored the Rudolf Wolff mini-guides to the London Metal Exchange, and the Real Money Guide to Investing in Gold.