When it comes to money Erica Leresche, 27, says she has a "no excuses mindset." Over the last three years she has saved $30,000 — all while making around $50,000 working at the Oregon State Credit Union in Albany, Oregon.
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Leresche is part of a 2021 Principal Financial Services survey of so-called "supersavers" who were able to max out their annual retirement contributions or come close to it, or sock away at least 15% of their salary. Leresche fits the bill>Create a self-imposed tax
Leresche imposes a tax>Don't deprive yourself of things you love
When looking for ways to reduce expenses, don't deprive yourself of things that are important to you. Instead, find an area of your budget that is tied less to your happiness and work to cut that.
"I really love Starbucks coffee, so I will buy a coffee in the morning, but I'll pack my lunch because usually lunch is more than $5," Leresche says.
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