After a lifetime of pinching pennies and stretching dollars, we want to retire rich. But with the current economic landscape, you may think you’ll never even get to retire, let alone retire rich. With these 7 money-saving strategy steps you can take charge of your financial future and retire rich. Regardless if your a teenager working your first job or middle-aged and nearing retirement, you can take these steps and retire rich.

It will take planning, discipline, and hard work now so you can fully enjoy a secure financial future.

1. The first money saving strategy step is the most basic: Save more money. We pay our creditors regularly, but we fail to pay ourselves in the form of adding money to our savings account. Save money by paying yourself a set amount each month. The older you are, the more money you need to save, 20% of your income if you are in your 50’s. If you already add money to your savings regularly, add 5% to what you routinely save. If/when you get a cost of living raise from your employer, stash it in a high interest yielding money market savings account. The money you don’t see is money you won’t miss, hide it from yourself in a savings account until you retire.

Watch this video for more ideas:

2. Take advantage of tax breaks and free money from your employer by contributing to your company’s 401K plan. Contribute the maximum amount that will garner you matching funds from your employer. If your employer does not offer a 401K plan, check with your financial institution regarding their tax-free retirement accounts. A yearly retirement fund contribution of $15,000 earning modest interest will be over half a million dollars 20 years from now.

3. Increase your current income and earn all the money you can while you can. Remember I told you hard work is involved in the strategy steps. Aim for a job promotion at work, take on a part-time job or if you’re a stay-at-home mom, look for a way to earn some income that will still allow you to stay at home (such as web writing) and stash all the extra money you earn into your savings account.

4. Invest some of the money that you are saving. Invest your money wisely into a well-diversified stock and bond portfolio. Use a tried and true investment broker to advise you, not a fly-by-night investment company.

5. You absolutely want to have your mortgage paid off by the time you retire, so stop, or better yet, don’t even start, borrowing against your home equity. If your home mortgage is paid off by the time you retire, you will have several options. You can remain in your home payment-free, sell and downsize, making money through the house sale, or you can rent your home and travel if you retire rich.

6. Set realistic goals about your kid’s college tuitions. Don’t take tap into your retirement savings money to fund their college tuition. Yes, I know, as parents we want to fund the entirety of their college education, but how will that impact your desire to retire rich? Instead, consider applying for fast 1 hour payday loans online. Also, college students can obtain their own loans, work part time and help pay college tuition and/or attend a college that has cheaper tuition. If you can’t fund your kid’s college tuition, tell them early on so they can make plans for obtaining scholarships or college funding.

7. The 7th and final step to rich retirement is taken care of your health. Eat right, sleep right and exercise. Doing as much as you can to stay healthy will keep you strong enough to remain at your job as long as you’d like, it will keep health care bills to a minimum and you’ll also be healthy enough to enjoy the money you have saved for your retirement years.

You can’t procrastinate about your retirement funds!

You can’t count on Social Security being there for you when retiring and you’re never too young to begin planning for your retirement. You can retire rich with these 7 money-saving strategy steps. Now it’s your turn!

The economy is unpredictable, and no matter how financially affluent someone is today, there is never a guarantee that financial security will be there tomorrow.

Knowing how to live on a budget, save money and be thrifty is a skill that everyone should know because you never know when you might need it.

Even if you aren’t hurting for money, thrifty tips to save money and setting a successful budget can actually put more money in your pocket for things you want instead of just the things you need.

Let’s look at twenty-five money-saving, thrifty tips to help you save money, spend money wisely, and stretch the most you can out of every dollar you do have.

Grocery Shopping Tips

1. Make a grocery list and stick to it. Use store flyers and coupons to plan your list, and create menus to make the list from. When you make the list, stick to it when shopping,.

2. Take advantage of buy-one-get-one-free deals on items you would normally purchase.

3. Shop at stores and on days that have double coupon specials for items, you would normally purchase.

4. Compare store brand prices to those of name-brand prices with coupons. Sometimes store brands are cheaper and sometimes name-brand with coupons or on sale are cheaper.

5. Common items, like toilet paper, paper towels, foil or sandwich baggies that you use regularly and that aren’t perishable can be purchased in bulk when they are at their lowest price and stored.

Entertainment Tips

6. Instead of going out to a movie, get some friends together and rent a video or two and have everyone chip in by bringing drinks, chips, or buying pizza on special. Just as much fun, much cheaper to get a meal and a movie, and you and your friends can laugh and talk during the movie without getting shooshed.

7. Instead of going out for the night, stay in and play board games. If everyone pitches in on snacks and drinks, you get out a lot cheaper and will probably have a lot more fun. Living room games like charades and role-playing games can be fun too and are free.

8. If you are just dying for a night out on the town, you can save money by looking for special tickets sales, two for one special, discounts on dinners, etc. Many websites are now offering to let you purchase a gift card at a specific price that has a higher value than what you paid, thus saving you money.

9. Instead of taking kids to play video games or eat out at expensive buffets with greasy pizza, consider a day in the park with bologna sandwiches, chips, and juice. It’ll be cheaper, you’ll get more entertainment value for it, and your kids will get fresh air and sunshine. A day at the park, flying kites, riding bikes, playing on the equipment, catching Frisbees… welcome back the good ‘ole day.

Tips for a Cheap Vacation

10. Buying drinks while sightseeing on vacation is always expensive. Consider investing in a small, portable cooler and buy drinks at a grocery store to carry with you. You’ll be able to have more drinks for much cheaper than the touristy costs of buying sodas or bottled water from vendors.

11. Avoid souvenirs. They are expensive and you rarely use them once you are home. Instead, purchase cheap disposable cameras and let everyone, including the kids, take lots of pictures for a souvenir.

12. If you’re staying in a hotel, choose a hotel or motel like Super 8 that furnishes a free continental or full-service breakfast. When you’re finished, take some fruit or bread back to the room for a snack later in the day. This saves both the cost of breakfast and helps fill in between meals with a few healthy snacks you don’t have to pay extra for.

13. Instead of eating out for every meal, stop by a grocery store that is not in the touristy part of town and buy some sandwich fixings or potato salad or other things to eat and take a walk to the beach or a park or sit in a garden and enjoy a picnic on your vacation. This is much cheaper than eating at a restaurant for every meal, and it’s something you likely don’t do much at home, so it makes it special!

Tips for Services

12. Bartering is an ancient skill. I am a writer, and I have a friend who is a web designer. I need a website, he needs someone to write copy for his website. I offer to write a copy if he will design my Web page. Value for value, without any money trading hands. If you have a skill and are in need of other skilled services, do you have value to trade?

13. Get quotes. Never go with the first quote for any job you need, whether it’s plumbing in your house, work on your car, or medical care. Also, check for better prices or better service offered for the same price before you commit to anything. You’d be surprised how many people will lower their prices if you tell them you’re shopping around.

Tips for Shopping

14. Always take cash when shopping to save money and stay within your budget. You are less likely to buy when you have to count out dollars than you are when you hand over a piece of plastic.

Additionally, if you are using credit cards, you pay finance charges and interest that make things cost more than they should.

15. Only buy what you set out to buy. If you see other things, make a note of them and add them to your list of things to buy in the future.

Impulse purchases can eat up a lot of budget money. If you wait one or two days, the urge to buy the item will likely fade, but if not, you can always add it to your list for a future shopping trip. Stick to your budget and your list when shopping to save money.

These are all common-sense things to help save a little money and help keep you on budget.

Most of these things, you already knew, but consider this a gentle reminder of logical, practical ways to save a little bit of money and keep a little bit more for yourself each month.