People shown computer-aged versions of themselves said they'd save more for retirement. By all means, try this at home.
A study at New York University has put a new face on retirement. Or, rather, an old face. Participants in four money exercises were shown elderly visages, both their own (thanks to age-progression software) and other people's.
Those who saw older faces were willing to put twice as much into long-term savings than participants who saw only younger mugs, according to study co-author Hal Hershfield.
He hopes the study will encourage people to think about who they'll be 40 years down the road. Specifically, he hopes people will "do things now to put that future self in a good position" -- that is, plan for retirement.
So try this little exercise:
Glamorous or low-key, the ceremony can be what you want. I'll show you how to get married without breaking the bank.
"You're getting married? Congratulations!"
That sure sounds better than, "You're getting married? Have fun spending almost 27 grand for a half-day party!"
Yep, I said 27 grand -- and that's without the honeymoon.
According to a study from TheKnot.com, the average U.S. couple spent $26,984 getting hitched. But maybe you can't afford that much. Or maybe you'd rather put some of that cash toward a different goal: student loans, a down payment on a house, a retirement account.
For that matter, does he need the iPad he already has? It isn't just the cost but the habits you're instilling.
Her daughter doesn't. Maybe that's why some of those friends have called her "poor."
The iPad's third version was released today. While frugality and technology aren't mutually exclusive, I'd question whether any kid needs an iPad.
Use 'stealth stock up' tactics to build a stash of food, cleaning supplies and toiletries. A few dollars here and there is all it takes.
This can be a huge money saver, given the rising prices of both groceries and the gasoline it takes to go and get them. Investing in loss-leader futures now will pay off in the near future.
Maybe you're thinking: "Buy extra? It's hard enough to keep up with the weekly grocery bill!" But there's a simple trick to making stealth stock up work for you:
Not all savings tips are created equal. Some aren't worth your time. Some might decrease your quality of life in exchange for pennies in savings.
Full disclosure: Some of my quart-size freezer bags are on their fourth tour of duty preserving wild (and free) blackberries. Why throw the bags out if they still work?
But turning a dual-ply TP roll into two single-ply rolls seems counterintuitive: Wouldn't you need to use more of the single-ply tissue, thus negating any savings? (And why not just buy cheaper single-ply to begin with?)
Working-poor parents and guardians may be eligible for $50,000 policies to pay for their kids' educations. And yes, it really is free.
This is not a scam. I promise. The MassMutual insurance company really has committed to writing $1 billion worth of free term life insurance policies for the working poor.
The drawback: Since it's a term life policy, you have to die for your kids to collect.
But you know what? Life is uncertain. If you got hit by a bus on the way to your part-time job, could your spouse or partner manage to get the kids through college or trade school?
If your response is "Where do I sign up?," read on.
From paper coupons to high-tech frugal hacks, these tips mean life beyond leftovers.
Make it once a week, once a month or once a quarter -- and make an end run around the expense. If times are tight, you don't need to pay the sticker price for steak and chardonnay.
'Manager's special' hamburger or chicken means big savings for you. And yes, 'old' meat still tastes good. Ask me how I know.
I see two options for shoring up your grocery budget. One is vegetarianism, a perfectly viable lifestyle choice. The other option is to change the way you buy meat: Choose only the cuts that are on sale, and begin all your shopping at the "manager's special" section of the meat department.
A friend of mine calls it "used meat." I think that's funny. I also think it's smart.
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WHAT IS FRUGAL NATION?
Donna Freedman's Frugal Nation blog is for readers who want to live cheaply -- whether due to necessity or a lifestyle choice. It explores living sustainably and making life more meaningful at the same time.
ABOUT DONNA FREEDMAN
Donna Freedman, a writer based in Anchorage, Alaska, writes the Frugal Nation blog for MSN Money. She won regional and national prizes during an 18-year newspaper career and earned a college degree in midlife without taking out student loans. Donna also writes about the frugal life for her own site, Surviving and Thriving.
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Saving just a single month of expenses may take longer than you think. See how your savings rate affects how quickly you can build a solid emergency fund.