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Making Your Paycheck Last Longer

Where does all of my money go? This is a common question many people ask themselves every month. People are always looking for more money to save, but aren't sure where they could possibly find more money in their budgets. If you're trying to save money to invest in your future, consider these minor changes and watch your money grow.

Clip Coupons
Clipping coupons is a virtually effortless way to save extra money. Saving a dollar here and fifty cents there may not sound like much, but at the end of a grocery trip, they often add up to be substantial savings.

Brown Bag It
Instead of heading out for lunch, bring your own and enjoy the outdoors. Eating out for lunch five days a week can cost anywhere from $20 to $50 per week. By bringing items from home, you can pocket the savings.

Enjoy Dinner at Home
Restrict dining out to one occasion per week. Dining out quickly adds up, especially for families. Make dining out the exception, not the rule, and treat yourself to extra money each week.

Rent a Video
Skip the cinema and extra expenses that go along with it. A family of four going to a movie could spend approximately $45 for tickets and refreshments. Opt for an inexpensive night at home with the family for under $10 and catch up on the movies you've missed.

Veto the Vending Machine
Buying a drink and snack from the vending machine everyday on your break can break you. Skip the snacks and have an apple instead, or bring your own snacks from home. At $1.50 per day, your savings can quickly add up to about $30 per month.

Say Later to Latte
Grabbing your morning cup of Joe from the gourmet coffee shop can cost you about $10-$14 per week. Treating yourself to only one cup of coffee out each week can save you between $30 and $50 per month.

Create & Stick to a Budget
Create a monthly budget for yourself and/or your family that is realistic about how much it costs for everything from house payments to haircuts. Many items cost the same each month, such as a mortgage, car loan, etc. For those expenses that vary, such as utility and grocery bills, add up one year's worth of expenses in each area and divide by 12. This will give you an average monthly amount for your budget. On months that you are able to save in these areas, you will have some extra cash to save.

Once you know where all of your money is going, you can prioritize the most important ways to spend it. Small lifestyle changes can make a big difference at the end of a month and directly impact the amount of money you're able to invest in your future.

Investment Risk Disclaimer
All figures are for illustrative purposes only and do not reflect an actual investment in any product, nor do they reflect the performance risks, expenses or charges associated with any actual investment. Past performance is not an indication of future performance. Actual results may vary substantially from the figures in the example. All rates of return are hypothetical and are not a guarantee of future performance of any asset, including insurance or other financial products. Higher rates of return have been associated with higher volatility. All inflation rates and rates of return on current financial holdings are estimates provided by the client. Examples including information on Variable Universal Life and Variable Life insurance policies' death benefit and return of policy values are guarantees subject to the claims-paying ability of the issuing insurer.