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5 Ways to Save Money in the Long Term


Are you interested in saving some money? I know I always am. Most of the time, it’s easy to detect the big savings, but what about those little savings that will make a big difference in the long term? Most of the time, those savings are tough to find. Today, let’s explore five ways that we can save money in the long run.

1) Reduce Your Internet Speed

For the longest time, my wife and I had some ultra-fast internet and we really didn’t need it. All we did online was search a few websites and check our email – it’s not like we needed to upload a million photos or download movie files. By downgrading our internet service, we saved $15 a month. I know it doesn’t sound like anything, but that’s a savings of $180 a year! There’s plenty of better things that I could be doing with my $180 than on unnecessary internet speed.

2) Stop Eating Out So Much

Eating out is so convenient, and since we typically pay with our credit card, we never fully realize how much it’s costing us. I figure we eat out at least 5 times a month at $50 per meal. If we ate at home, the same meal probably would have cost us $10. That means that by cutting back on our restaurant visits to only 1 per month, we could save $160. That’s $1,920 per year! Just by cutting back on those restaurants, we could go on an extra vacation!

3) Insulate Your House (if you have an old one like us w/o insulation)

I know this typically sounds like a ploy from those insulation guys to get your money, but it’s actually true. By insulating your house, you’re saving money on your heating bills in the winter and on your electric bills in the summer. Typically, an insulation project like this can pay for itself in just a couple of seasons.

4) Carpool

Cars are incredibly costly, especially since gas is on the rise again. At $4 a gallon, you could save $40 a month by carpooling, which means that you’re keeping an extra $480 in your pocket each year.

5) Use Fixed Term Bonds

With all of these additional dollars in your savings, what are you going to do with it? Well, if you keep it in your savings account, it’s going to earn next to nothing for you. What if you put your additional money into a Fixed Term Bond? The risk is fairly low and you’ll be earning much more on your money.

Put these long term savings techniques into practice and you could save more money than you previously thought possible!

Do you think you’ll implement any of these money-saving techniques? Which ones?



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. We downgraded our internet speed when our special promotional period ended to keep our cost the same. We can barely tell any difference at all…

  2. These are great tips I’ll keep in mind down the road when we own our own home. We currently get free Wifi. I just got my first credit card a couple months ago and I’ve enjoyed the option to get cash back directly deposited into my bank account. It adds up to a couple hundred a year.

    • That cash back is nice isn’t it? I still don’t use mark credit card that often, unless it’s for a big expense and I’m only doing it for the points.

  3. Not sure how I feel about reducing my internet speed…with multiple computers and wireless-capable TV & receiver, I think my streaming capabilities would be very limited. once our package special pricing is up, I’ll probably opt for reducing the number of channels we get rather than reducing internet speed – that way, I can still stream all the things I can’t get with regular cable!

    • Either way is a savings! Sounds like I’ve got you thinking! 😉

  4. All those tips are good ones. I think everybody can cut out unnecessary expenses, but people are hesitant to do so. Which leads me to believe that money management is a very emotional thing to deal with.

  5. I admit to being sorely tempted by those super fast internet speed options, but the cost just isn’t worth it to me (or perhaps it’s better to say that the money is worth more to me!)

    • Haha. Yep yep.

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