Pennies make dollars. The sooner one realizes that fact, the sooner money can be saved. Look for ways to save on everyday living expenses.


Utilities are the biggest and easiest category in which to start saving. When not being used, lights should be turned off. Adjust the thermostat a few degrees warmer during the air-conditioning season, and a few degrees cooler during the heating season. Unplug appliances that are not being used. These simple tasks will reduce utility bills. When a utility bill arrives, put the difference of what you expected to pay and the actual amount due into a retirement savings account.


Everyone has to eat. There are numerous ways to save on the amount of money spent on food. Instead of buying lunch, taking lunch to work can result in big savings. Skip or reduce the number of expensive lattes, and bargain shop when making food purchases. A great way to save on food purchases is to clip coupons. Newspaper and online sources provide hundreds of dollars in coupon savings. Some stores offer double redemption on coupons. Coupon savings does not have to be an extreme measure. Clip only coupons for items normally purchased. Keep them in an envelope that has a grocery list on the outside. Five dollars saved each week means over $250 savings for the year. That amount should also go into the retirement account.

Transportation Expenses

Purchasing gasoline is a necessary evil. To save on gas consumption, eliminate as many unnecessary errands and trips as possible. Not only will a retirement account grow, but the world will be a greener place. Using a GPS, even to destinations previously traveled, will determine the shortest route and save the most fuel. Carpooling is also an excellent way to cut costs of transportation and help the environment. Public transportation, if available, is cheaper than using one’s vehicle.


Like food, everyone needs clothes. Thrift stores offer many bargains. Often items, having the original tags on them, can be purchased for a minimal price. Clearance racks are also wonderful sources for clothing purchases at reduced prices. As much as 90 percent savings have been realized by smart shoppers.


Cutting out entertainment would take some of the joy out of living. There are ways to save. These savings are some of the easiest to accomplish. Movie theaters offer matinee showings for much less than evening rates. Many communities offer free or reasonably priced activities to be enjoyed.

In order to truly save, each time money spent is less than expected, be sure to actually put the money into a retirement savings account. It will be surprising to see how quickly the funds will grow. Three dollars saved each day, will put over $1,000 into that account. Do consider consulting with a Miami tax preparer for a wide range of account services in South Florida.