How to Save for Retirement: Pay Yourself First

how to save for retirement

One of my favourite personal finance books is The Wealthy Barber written by David Chilton.  Chilton weaves his financial advice around a story of a barber named Ray who is independently wealthy.  While detailing Ray’s story Chilton incorporates advice that Ray dispenses to his clients.  Of the plethora of valuable advice in the book the first tenant to developing a personal financial plan and how to save for retirement is to pay yourself first.

The premise of this strategy is that you automate a 10% deduction of your take home earnings.  This 10% is put into an account that is not your primary checking or savings account and will be used to save for your retirement.

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6 Ways To Make Your Business Energy Efficient And Eco-friendly

Being energy efficient is vital especially under the current economic climate we are presently facing. Saving money on your business energy consumption can not only provide huge financial benefits for your company it can also help the environment. Irrespective of the size or locality of your company, we can all play a huge role in making sure we live in a better, cleaner world while also streamlining our business by considering these 6 easy steps at work…

1. Turn the lights off

If you are not using a meeting area or work space, please remember to switch off the lights when leaving a room. This will dramatically reduce your company’s utility bills and save you plenty of money.

2. Junk mail lists

Did you know that nearly 50 per cent of all business catalogs are never read? This is a large statistic, with almost 62 million trees being demolished and a staggering 28 billion gallons of water needed to make them each year. With this in mind, be aware of the environmental risks involved and get the companies to remove your name from their mailing list. Also, have contacts email you rather than send you post in paper form.

3. Turn off your monitor

Did you know that monitors use more than one third of a desktop computer’s energy intake? That’s a pretty large number, so why not reduce your energy consumption today by turning your monitor off when you leave your desk for more than ten minutes at a time. This will reduce your company’s energy consumption over the course of a year and save your business a small fortune.

4. Step up

Avoid the lift at work and use the steps instead. Not only does this have huge health benefits it will also reduce your company’s electricity which in turn saves money on the electric bill.

5. Travel to work

Why not take alternative transportation to work and one that uses a lot less electricity? Try swapping the train, car or bus for a bike or if you’re lucky enough to live near your company, use your feet and walk.

6. Recycle Paper

Many businesses get through piles and piles of paper each and every year. From magazines, note books and pads to post-it notes and printed paper, companies use a lot of paper. A great way to help the environment is by using recycling services and implementing a recycling system at your work by keeping paper bins near printers and green bins by the kitchen to encourage people to protect the environment.

Conclusion …
So there you have it, 6 cost effective tips to help your company become more energy efficient. These tips are easy to follow and help reduce your businesses carbon footprint whilst saving you a small fortune along the way!