There are plenty of other ways to cut your spending. Ask yourself:
Do you really need cable television if you spend all your time with Netflix?
Do you pay for subscription services you don’t often use?
Do you clip coupons and compare prices before you buy?
Do the adults in your family really need to give each other large gifts for birthdays and holidays?
Think of all your other unnecessary expenses and see where you can cut back. It adds up.
Another $25 a month to invest, earning an average of 7 percent a year, would give you another $4,100 in 10 years. In 20 years, it would be worth nearly $13,000.
If you can scrimp together another $100 a month, it could be worth $16,500 in 10 years, or $49,000 over 20 years.