Finding the Money to Fund your ROTH IRA

In tight economical times you have to get creative with ways to save money. Even beyond that, you have to figure out ways to save for ordinary spending while still building your nest egg. But, what if a few small changes in your decision making process would enable you to save more money and fully invest into your IRA without sacrificing on your lifestyle any more than the economy has caused you to?

I want to introduce to you what I believe are three decisions that will enable you to fully fund your IRA without having to work more hours, or make anymore new deals. These are simply ways to divert your funds to the right place.

 #1. Your Change: I have made it a habit to never make correct change when I am buying something. If the flowers I am buying for my wife total $19.07. I give the clerk a $20.00 bill and save the change at the end of the day into my change jar. Then on Sunday's I roll the change myself (Never using the Coinstar machines, unless you own it) so it doesn't become an overwhelming task. Pennies, Nickels, Dime and Quarters. I love them all and they add up! Over the course of a year I estimate you will end up with $800 in change that you can put into your IRA. I personally recommend once you get to $200 you take that change to the bank and make a transfer to your IRA.

$800 down, $4200 more to go!

#2. Daily Decisions: I was at the grocery store today and had the chance to buy some ears of corn. I could either buy 5 for $1.99 with the husk, or I could buy the packaged "clean" corn for $3.99. That $2 difference is a decision we make everyday be it corn, coffee, energy drinks, desserts, drinks at dinner. These small decisions make all the difference in your savings. Now if you just make that $2 decision differently each day you will save $730 for yourself, but it doesn't just stop there. On this same trip to the grocery store I had the chance to sign-up for a free membership card that gives me a discount on my total bill. We've all seen these types of memberships. Grocery stores and other stores love to exchange a discount for you for information for them. By signing up for that membership I saved an additional $25. What if I kept my awareness and make a $25 decision to save each week. That is another $1300 in your pocket!

$2380 down, $2170 more to go!

#3 Negotiate Often: I know successful people don't accept no as an answer. The same is true when successful see a price they don't like. Too often you hear stories of a friend or relative that got a $500 discount on their travels because they shopped around for a better price, or You need to shop for a car and successfully negotiate a $1000 discount on the sticker price. How about the mother that goes into an electronics store and buy that flat screen TV for a $500 discount because she bought the perfectly good floor model or the open box item. It is these things that will save you more than $2000 a year!

$5000+ saved in your IRA. Anything over $5000, spend it on yourself. You are changing the way you see spending and in return you need to reward yourself today and for your future.