7 ways to get rich without leaving the couch via CNBCMakeIt
If you want to save more money, there are endless tips and tricks to help you out. But it often means making some sacrifices.
You can check online to see if you can set up"auto-increase" for your 401, which allows you to choose the percentage you want to increase your contributions by and how often. This way, you'll never forget to up your contributions, or talk yourself out of setting aside a larger chunk. That can translate to more money in your pocket. Because you aren't paying an advisor as much as you would for actively managed funds, you're probably saving money in fees that could cut into your returns, Holeman says.
"I know there are some people out there that say you shouldn't worry about the $5 latte, but the more I think about it, cutting out the $5 latte was a good place to start. Because if you try to downsize your house, get rid of all yours cars and make all of these drastic changes, it's so overwhelming and you're not going to do any of it," he tells CNBC Make It.Generating passive income takes some effort up front, but once you get into a groove, it can become easy money.
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