If time is money, then time saved is money saved. If you’re saving up for a major life investment like buying a house or paying off your student loan debt, then every little bit helps – and so does every little bit of advice on how to reach your financial goals as quickly as possible. One great resource is Money Manifesto, the website created by personal finance blogger Lance Cothern. We asked him about some of the ways that small changes can add up to big savings.

Typesy: You’ve recently paid off a huge loan, and that took years of hard work to accomplish. What would you say to people who are facing similar challenges but feel intimidated by the total amounts involved?

Don’t be intimidated by the totals or you’ll never get started. Instead, make a game plan and focus on every small win you can make. Even if it is just paying and extra $20, $50 or $100 per month toward your debt, it adds up! Then, as you can, continue adding to the amount of money you put toward extra debt payments and your debt will begin to diminish faster and faster.

Typesy: For people who were raised during the shortages of World War II, reusing and recycling and making the most of every penny spent was just a way of life. How important is it to cultivate an attitude of frugality today?

Frugality is important, but not in the way many people think. Instead of doing things you hate just to save 10 cents here or there, focus on cutting out the things you don’t care about from your life. Many people don’t realize that they don’t really care about what type of car they drive, yet they spend hundreds of dollars a month to drive it! Focus on cutting in areas you don’t care about and cutting your expenses will be easier.

Typesy: Here at eReflect, we’ve documented that people who learn to touch type can save hours of time each week. What happens when someone puts that sort of spare time into working on their finances?

When you have extra time to spend on your finances, amazing things can happen. You can find a cheaper cell phone plan, find a better insurance company with a lower rate, you can discover subscriptions that you thought you cancelled but are still paying for today. Once you’ve thoroughly gone through your finances, you can then take that time to earn extra income and achieve your goals even faster!

Typesy: One of the categories on your site is devoted to the topic of vacations. Doesn’t that go against the idea of saving money?

Even though vacations do cost money, it is important to get away from time to time, at least for me! Vacations are one thing my wife and I really enjoy, so we consciously spend money on them and cut back elsewhere to make it happen. Also, you can vacation for free if you’re disciplined with earning credit card rewards through signup bonuses.

Typesy: Now that you’ve paid off the loan and built up an emergency fund, what is your next financial goal?

Our next big financial goal is reaching financial independence. Once we have enough money invested or enough passive income to support our lifestyle indefinitely, which isn’t super luxurious, we will be able to do whatever we wish with all of our time rather than staying focused on making money. Financial independence is a long term goal, but we’re excited about the possibilities!

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