Having a high savings rate will help you achieve your retirement goals faster. There are essentially two sides of the equation where you can focus –
- Driving down your expenses
- Increasing your income
Both are really important and many will argue, myself included, that the income side is the better thing to focus on because it really has unlimited growth. I’ve written on career hacking and negotiating for a raise before and I plan to write more on the income side. However, today we’ll focus on driving down expenses.