Saving for retirement is a very important part of your early working life. When you become a working stiff, you need to find some why to put 10% of your income each month into your retirement accounts, like an IRA, so you can be sitting pretty when you get to your golden years.
In order to do that, you need to create a workable budget and you need to be able to cut corners somewhere. Where can you do that other than household management? Especially in the realm of homeowner DIY projects. You can spend a small fortune maintaining and upgrading your home or you can learn a few skills that will help you add value to the most important investment of your life and prevent expensive problems from occurring.
DIY projects do sound intimidating, but if you take the time to learn skills and bring them out in a manageable fashion, you can become a real DIYer and pocket those savings into your IRA. The expense of hiring a painter or a handyman to do simple projects like painting the exterior of your house or hanging a door can get very pricey. The premium on these workers skills are such that you can pay way more than you want to for someone to replace a doorknob in your home.
Watching videos on YouTube that will help you get better at painting a room or installing baseboard trim is a free activity. And you will get the satisfaction of a job well done after learning these skills by yourself and implementing them. That rush of dopamine from actual accomplishment is a great thing. That is where you can really make a difference in your day to day life. And you can take the money that you save and plow it straight into your IRA.
In order to really save that money and make sure it goes to your IRA, you need to be more organized about your money and bring it the attention it deserves. Many people don’t have budgets because they don’t like thinking about their money or they get too worked up about all the obligations they have. But it helps lessen the anxiety when you take the time to learn what you are spending each month and what you are earning each month. That will put your mind at ease and make it easy to diver extra funds into your IRA.
Become more proficient as a home DIYer also makes a real difference in the way that you can interact and negotiate with contractors. That gives you a way to save money on the projects that you are not confident or skilled enough to take on yourself. The way that this works is when you know how everything in your house works, even if you can’t fix it, you can figure out which contractor is being on the up and up. That allows you to avoid paying for shoddy work or extra man hours.
That ability to save will allow you to move more of your money into your IRA, resulting in a larger nest egg and retirement account for when you are in your golden years.