8 strategies to spend less money

If you want to accumulate wealth, you have to cut back on spending.

To help you get started, we rounded up money saving strategies from the best savers out there — those who have saved over 50% of their income.

Not only will increased savings allow you to put more money to work and grow it through investing, but if you save enough, you could even consider retiring early. Most of these diligent savers retired well before the average retirement age of 62.

“Many assume that you have to work 40 or more years to retire, or that long term international travel is only for college drop-outs and dirty hippies living on rice and beans,” write Jeremy Jacobson and Winnie Tseng, who retired comfortably in their 30s and now travel the world. “It doesn’t require winning the lottery, inheriting a windfall, or getting lucky on some penny stocks. There is really only one thing that determines how quickly you could join us on the road: savings rate.”

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