Happy holidays! As we approach the final week of the year, take a moment to look back on all the cost-cutting and income-producing measures you took this year.
Did you switch to a more suitable insurance premium? Did you switch to mutual funds or index funds with lower fees? Did you start using CFL bulbs? Did you downgrade your cable package, or start cooking more meals at home? Add up the cumulative savings. It may amount to more than you think.
Similarly, look at all the ways you earned side income. Did you do freelance or consulting work on the side? Did you babysit or do home-repair jobs? Add up you earnings, even if it "only" amounted to an extra $50 or $100 a month. Then combine that number with the amount you saved. What an impact!
Did you not make any major savings or earnings this year? Start looking to ways you can improve your bottom line next year.