Debt Free

There are some things we all spend everyday and don't give it a second thought. However, a second thought is just what we should give it. These seemingly little things add up to big money over time. Through compounding, they can even be a sizable portion of your retirement savings. If you want to end up debt free and have a large nest egg to boot, check out these easy ways to get what's essentially free money.

For example, if you sere to invest the money you saved in a tax deferred retirement savings account earning 8% interest, here's a sample of how it could contribute to a healthy retirement.

An HDTV –
I'm as big an HDTV fan as the next guy, bigger, my wife would argue. I love the sense of depth, the vibrant colors and the fine details that really convey subtle emotions you just don't get with regular TV. However, if you were to forgo grabbing that 42” plasma HDTV when it's on sale for $1,000 this 4^th of July, here's how it could add up:

In 20 years - $4,660

In 40 years - $21,500 – and the TV won't be any good by then anyway

Entertainment -
Spending $100 bucks a week on dining out and a movie may seem like a pretty small entertainment budget, and granted, it's not all that big. But if you skipped the dinner you bought with that $100 and invested it instead into your retirement savings account, Viola! You'd have amassed over $351,000 at the end of 40 years.

Lunch -
If you brought lunch from home and saved $40 a week, you'd build up an additional $70 G's in the old IRA!

Premium movie packages –
How much do you really watch HBO anyway? Showtime? Unless there's a show you just can't miss, you probably should, because the $10 a month may not seem like much money. However, the 10 spot you spend for the privilege of curling up in front of the TV those 3 nights when you actually have the time, are costing you even more free money out of your retirement. Cut those back until after you retire when you have the time to watch them, and you'll end up with a robust $35,000 more to keep you plump and happy in your golden years.

Caribbean Cruise –
Now I know you probably danced to Billy Ocean's Caribbean Queen in college, but you're not going to find her on a ship somewhere, trust me. What you will do is suck over $50,000 away from your retirement savings for the average price of just one cruise for two. Ouch!

These are just examples, but they show how seemingly small expenses can add up to big piles of cash in the future. After all, there really is free money out there if you know where to look.

Prayers and condollences out to the family and friends of the Virginia Tech killer's victims.