Poor People Like Saving Money

Finance websites such as MSN Money offer free, helpful saving tips for those in the lower tax brackets. The tips below mirror the sentiments found on popular money blogs that could not only cut down on monthly living expenses, but allow many people to begin saving now.

1. Make coffee at home to bring in the morning: Forget the $6 soy latte or the $7 Jamba juice, and bring homebrewed coffee to work in the morning. Not only will you be able to save your $10 per week coffee allowance, but you will be able to make full use of the "World's Best Worker" mug you received in lieu of a Christmas bonus.

2. Reassess your utilities, see where you can cut back on cable and phone services: If your home utilities are a chunk of your monthly earnings, it's time to re-examine your expenditures. Considering the amount of time you are at home to actually watch television, are these services worth the price? Increase your personal internet usage and long distance phone calls at work, and cut your home packages to the base package. Consider stealing a neighbor's cable and wireless internet. If they continue to pay for the platinum packages, they're asking for it.

The local library is a wealth of free books, DVDs and CDs available for free!

WARNING: Although socialist principles may work at the public library, don't repeat any of these ideas in the office. Work is no place for the expansion of knowledge and free flow of ideas.

3. Shop for used clothes: "Dress for the job you want, not the job you have." But with no chance of advancing out of the job you currently have... save your money, 'cause you can't save your dignity.

4. Take advance of your company's pretax options: Many companies allow you to purchase medical supplies or bus/train tickets pre-tax. Consider the stipend for a years worth of antacids, wrist braces and Lysol every January to reap the full benefits of these incentives.

5. Cut your own hair and start formulating your own makeup: See #3

6. Wean yourself off solid foods: Once cut with preservatives and fillers, liquid food and dietary supplements are cheaper alternatives to complete meals... also easier to eat on the go or hide from predatory co-workers.

7. Establish a monthly budget: The cardinal rule of personal finance is to establish a monthly budget and make sure to keep at least $500 dollars available for emergency expenses. Should you have a problem with your car, home, or require a post-evaluation bender, you will not want to put these expenses on your credit card - that will come back to haunt you later.

In addition, Genericorp offers a 401K to all full time, non-union employees. To reap the full benefits of the 401 K, it's best to start now. Saving only 40 dollars a month starting in your twenties could put you in a place for financial success in the future.

(That is, if the country doesn't go into a recession, bank rates cease their decent into the crapper, you manage to keep your full investment in the face of divorce proceedings or IRS audits, and you do not cash out due to lawsuit, medical expenses or child support.)

Scraping every penny together now and forgoing vacations, legal stimulants, safe transportation, professional grooming services, nights/weekends/holidays, nutritionally complete meals, intact footwear, decade appropriate clothing, dental care, and dignity, can put you on the straight and narrow to a marginally good retirement facility in Tom's River, NJ before your children hit retirement.

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