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REDUCE SPENDING ON LUXURIESThis tip is not much fun; however tightening the budget on luxury spending such as going out to dinner and leisure activities can save you quite a lot of money in the long run. Even by cutting back on one or two luxuries a month, the savings over a year can add up to be quite a significant amount. Some other ideas include:

Think about where your money goes currently and if you could cut back on something?

Collectively the examples mentioned above could save you up to $500 a month, which equates to $6,000 per year.

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