No matter who you are, chances are you want to save up enough money to live comfortably as the years go by. Others are looking to become wealthy and live off the money they have worked so hard to make. Well truth is, creating a fortune and saving money are things not many people master throughout their lifetime, that is why unfortunately you see so many with money problems. Below I will talk about some ways you can achieve financial freedom and realize being broke is not a reality you want for yourself.
- Always be cautious about what you are buying and ask yourself if this purchase is really a need or a want. All purchases fall under these two categories and many times we tend to ignore that little voice inside telling us we really don’t need this, just want it. Perfect example of this is when you go to the grocery store and purchase extra things that are not on your list. Its easy to see something and think “oh wow that would be nice to have” forgetting why you came to that store in the first place. It’s always a good idea to have cash on hand so you are not just mindlessly using your debit or credit card to spend on random things that you have no need for. Not to mention, using you credit cards too often can result in mounting debt which has to be avoided at all costs if your goal is to save money and create a good living for yourself.
- Try and purchase things at any store you visit which are on sale as often as possible, this will save you tons of cash in the long run. Also buy things in bulk, meaning you purchase more than you need or extra at least once every two or three months. Getting in the habit of doing this can really lower your spending, if you keep it up that is. If we are talking about food and anything really, focus on buying things that last and don’t expire quickly. Get things that you can save for a rainy day and use later.
- Freeze any food items that you want to save for a long time. Or as well any food that is about to expire and you want to prolong from going bad for a little while longer. Specifically, I’m talking about meat and bread food products.
- Price match as many items as possible, some stores allow you to do this if you provide them with a flyer from other places selling the same items you want to get at a lower cost. Getting into the habit of doing this may help you save a decent amount of money by the end of the year. Look for coupons (to save on costs) and search the internet for deals, make sure you come prepared with facts/visuals about why an item should be a certain price and not the one that is listed.
- You know those lunches/brunches many tend to go out for at work almost every day, well this habit comes with a price. Most people don’t realize it but going out to eat consistently can be quite costly when you start to add up just how much you are spending each time. Trying that new sushi or ramen place may sound like a good idea but try and think long term about where that money can be better spent or better yet where it can be saved instead. Another thing to consider when buying anything is how long it would take you to work in order to make up for the price of the item you are seeking.If you start to reprogram your mind to think this way, more times than not you will be surprised at how much you start saving. You will become more aware of where exactly your money is going and what you can cut back on. In terms of lunch, stop being lazy and start packing something to eat from home. It really does not take much to make a sandwich in the morning or night before. Additionally, you can also take your leftover dinner from the night before for lunch the next day. Now this is assuming you were thoughtful enough to make a little extra on the side.
- Image by Steve Buissinne from Pixabay
- This is a big one which many people tend to overlook. Buy used cars instead of new ones, this tactic can save you thousands of dollars in the long run. You don’t need the latest car that has everything, remember the saying it gets me from A to B. Most cars will do the job, you don’t need the shiniest toy on the shelf. If you do your research and are diligent/patient with the vehicle you purchase, a used car can last you many years. Heck with the proper maintenance it can even look brand new, even if it isn’t. Money saved in this area can be used to purchase a newer car down the road or even be invested in other assets that can help your funds grow and work for you.
- PAY OFF ANY CREDIT CARD OR VISA DEBT AS SOON AS POSSIBLE!! This is massive because so many people spend years trying to pay it back, thus not allowing them to properly save and invest their money. Remember that essentially any money you are spending with cards like this is money you don’t have. Technically, this money is just being borrowed and you must always pay it back. If you use your credit card and visa often, get into the habit of paying it off right away or shortly after. Do not let one month go by without establishing a plan to pay off your debt. This is vital to anyone hoping to save and build wealth. Debt is a killer and can ruin your life if you do not get a hold of it before it gets out of hand. Speaking from experience I know how important this step is.
Hope this helps people out and I will have a part two in a little while, if you have any questions for me do not hesitate to email me at matt@6ixhappening.com, till the next one see you then 😊.