7 Tips to Increase Your Savings Rate

As investors looking for financial success and even financial independence, there are really only two levers we can control.

One is fees, and much has been made about the low-cost index fund approach to investing. The other is your savings rate. The more you put away, the less you depend on the market return to do the heavy lifting for you.

In this post, originally published on White Coat Investor, we look at savings rates and how to maintain them at a high level.

7 Ways to Increase Your Savings Rate 

Arrow

For many physicians, one of the easiest ways to save more money is to simply work harder and make more money. You can keep the same spending habits and save more if you just make more.

#1 Make More Money

Many people get locked into their lifestyle due to long-term contracts and debt. The more of this you can avoid and eliminate, the easier it is to change your budget each month in response to changes in income.

#2 Minimize Fixed Expenses

SWIPE UP NOW TO READ MORE