You’re Wealthier Than You Think

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How would you feel if someone gave you thousands of extra dollars tax free each year? Well, you can do this for yourself – without making any sacrifices along the way. It is truly astounding how much money we waste each year without getting any real benefits. By taking some simple and inexpensive steps, you can keep your money in the bank, rather than giving it away to undeserving causes.



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Before we look at how to do this, let’s look at the power of saving. What would it mean if you could set aside an extra $4000 a year? Let’s assume that you are 35 years old with 30 years to go until retirement. While interest rates are low now, it’s possible that you will be able to get at least 4% return per year in the longer term if you invest in something like these CIT CDs. If you do this, you will end up with over $195,000 by the time that you retire – assuming that the interest you earn is taxed at 25%.

So, how do you go about saving this amount of money?

The first place to start is with your energy consumption at home. There are lots of ways of doing this without making your life any less comfortable. Heating is one example – the average American home with oil heating spent over $2000 on this in 2012. However, for every degree that you lower your thermostat, you are going to save about 3% of that. So, if you keep your thermostat at 69 degrees instead of 72, and turn it down to 65 at night time and when you are out, you are going to end up saving about $400. If you turn down your water heater to 130 degrees and install low flow shower heads, you will save even more. Doing simple things such as sealing drafty windows and turning off lights can also have a dramatic effect. All in all, it’s perfectly feasible to save up to $1,000 dollars a year – without affecting your lifestyle.

Another simple example is eating out at lunch. If both you and your partner spend $7 on lunch each day during the week, you are going to end up spending $3500 in a year. On the other hand, you can have a far better lunch if you make it yourself, and it will cost half as much. That’s another $1750 that you can take to the bank.


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Finally, think about buying a hybrid car the next time. For example, if you purchase a hybrid such as a Prius, you can save another $700 a year in fuel costs when compared to a gasoline-powered car such as a Ford Focus. When you add that to the other savings just discussed, that’s $3,450 a year – without making any significant sacrifices. With a little ingenuity, you’ll be able to come up with the other $450 – that’s less than $10 a week, which is about the cost of four cups of coffee.


Comments: 10

  1. Aaron January 19, 2014 at 10:18 am Reply

    by common I mean you’re not wealthy. You’re middle class. It seems that Americans really like to sue each other. How can I protect myself and my assets from lawsuits?

  2. Raymundo February 2, 2014 at 11:14 pm Reply

    So i am just wondering if my family is wealthy. Most of my family make millions each year, and have big houses, and super cars. My cousins, brothers and sisters all go to private school which for me and my brother, costs about 20-25,000 a year. Our mortgage is paid off and we have no debt. I go to the best hotel in the state every holidays and go on major shopping sprees. Usually spending about 10,000 dollars. The most I have ever spent was 20,000 dollars. I know this may sound ridiculous but it is my money i made at the end of the day. I also choose to go anywhere i want around the world every year. We travel economy and business if it is in state or just a little bit out of the country. But if it is somewhere like LA or London we would travel first class. I am 13 and have a business of my own. I’m not telling exactly how much i make per year but it is in the late hundreds of thousands of dollars. I am from Australia. I work extremely hard in my business and usually get A grades and the occasional B plus at school. i have big plans for the future and am hoping to buy a house worth around 3-4 million in my late teens, early to mid twenties. I also want to buy some holiday houses in america, and I have plans to buy some cars. In my bank account my family has left me about a million + and still counting to this day. You may think because I am 13 that I am making it all up and immature because of it. You may not believe me but I am speaking from the truth here. It’s just people think I have a lot of money but I am really not sure to be honest. A lot of families in California are richer then then some of the poor in Africa for example, but some of them would be considered poor compared to Bill gates. That is why i am posting this question because i am not sure what stage I am in the meter of poor to rich and I am curious to know. I don’t exactly know how much my families net worth is, but from the facts and figures I have collected from the past, my family owns one 3 two 4, one 5 million dollar houses, and then our other family have houses in the 700 to 800,000 dollar range. My grand dad has a private jet and has 2 million in one bank account and making 100,000 on it each year. My aunty and uncle have a farm and a winery. They have an Aston martin db9 and 3 range rovers. They also have a couple of yachts. I currently live in a 4 million dollar house. The cars we have include, 2 range rovers, a bentley continental, a ferrari California and a Lamborghini Adventador (if thats how you spell it).

  3. Ai February 14, 2014 at 10:26 pm Reply

    I heard many people mentioned that most wealthiest people do ended up in suicides and troubles because of not feeling secured or happy despite the wealth they had, why such?

  4. Iliana February 21, 2014 at 12:12 pm Reply

    the Bush tax-cuts AGAIN for the wealthiest Americans, because that will create jobs and stimulate the economy. They’ve been spouting that “line” for 10 years. Has it worked???? NO….It’s time for the millionaires and billionaires to PAY more. I’m so tired of them being cheap skates. Am I wrong?
    And for the record, I didn’t support Obama. I voted for Romney. But on this one issue, I do support Obama and any President. It’s time for the wealthiest to finally start paying a little more.

  5. Fidel February 22, 2014 at 8:39 am Reply

    no loitering or inheriting money from someone counts.

    i think you can be wealthy by being an artist or inventing something but im not too sure


  6. Angelo March 11, 2014 at 2:57 pm Reply

    I am writing a paper and i need help.. I just need the name of one wealthy person who is wealthy in their professional life and have not attended college. i know there are a couple but i can’ t think right now…….thank you…. I am not interested in athletes…..mainly in bussiness…..thanks again

  7. Larry March 12, 2014 at 10:35 pm Reply

    Really did Mitt Romney bust his behind to become wealthy ?
    And His father had to rely on public assistance ( WELFARE ) until he managed to CON Republicans into voting for him
    And BTW I started working at 13 years old
    I earned my entitlements and my retirement .

  8. Bettina March 12, 2014 at 10:35 pm Reply

    I was just wondering what are the wealthiest towns/villages in Weschester County, New York?

  9. Shalon March 22, 2014 at 5:17 pm Reply

    I’ve been vegan for four years and I eat mostly organic. I am 21 and a college student, so I am not exactly wealthy (but eating healthy is a financial priority). I currently eat a lot of nuts, seeds, beans, rice, tofu, cooked frozen veggies, and some raw and dried fruit. I know that I can go without cooked food, that is no issue. But, I am concerned with the costs of going raw, meal planning around a busy schedule, not consuming produce quickly enough and it going bad, ect. So, I’m asking you to share your personal experience with being raw (how it benefited you’re health). If you found it very costly, what books you recommend reading, and what tools/appliances are a must. (I already have a blender, food processor, juicer, grater, and an average set of knives) .. Are there are any herbs you recommend growing inside at all times such as wheat grass? Finally, do you recommend going all or nothing or a gradual transition. (I feel that I would like to go all or nothing, but I was also thinking of making my New Years resolution to “transition into raw” since I have some food that requires cooking that I am not just going to throw away or waste.. Thanks in advance for sharing you’re experiences
    I’ve been vegan, originally for ethical reasons. I don’t buy or use anything with animal ingredients or byproducts or tested on animals. I try to use castile soap, distilled water, vinegar, and so on for cleaning (only biodegradable cleaning and laundry products) so yes.. I am vegan.

    Basically, I went vegan for the animals, and now… I want to go raw for myself.
    *Vegan and somewhat of an environmentalist

  10. Eilene May 5, 2014 at 8:40 pm Reply

    What job could I do when I get out of collage that contains a lot of helping others but also having lots of fun and meeting new people and getting wealthier every day?

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