June 2021 – Summer Budget Savings

Happy Memorial Day weekend!

As we begin the summer months, I wanted to help you find some budget savings. This way, we can get to your financial goals faster.

Some of the biggest budget items for most people are rent, cars, kids, and food. We aren’t going to tackle all of these immediately. However, I do want you to pick one item this month and find some savings.

Today, let’s start with rent. What are some creative ways to reduce it?

1. Move. In the new digital economy, it’s easier to work from any location. If your work permits this, take advantage of cheaper places that you would like to live. Go to expatistan.com and do a cost comparison of different cities. If you’re active duty military, you can request a certain duty station if you’d like to save more. Although the military gives cost of living adjustments based on location, sometimes doing a comparison of the allowances and the costs can help you find better places to save.

2. Ask for a rent reduction. One option is to ask the landlord to lower your rent. Since COVID is still affecting many areas (especially large cities), if you’re in an area with lots of vacancies, you might leverage this by asking for a reduction.

3. Rent rebates. Many state and city governments offer rent rebates if you’re receiving social security or low income. Look up your local programs to see if you’re eligible. You may also be eligible for tax credits.

If you want to take your saving and investing success to the next level, I can help you directly when you join my membership program. We’ll develop an outstanding plan to prepare for your financial future.

Don’t forget to pick up copies of The Money MissionTax Saving Strategies and The Blended Retirement System.

Have a great Memorial Day weekend, and I’ll talk to you again soon!

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