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.
- Save any change you have collected throughout the day in a jar or like I do in a box at home. This can come in handy later when you need to cash that change in.
Image by Pictures of Money from Flickr - Create a monthly budget and stick to it, no exceptions other than of course for emergencies or when times are rough. This will ensure that you are only spending your money on things that are necessities and not wants or desires.
- Sleep on big money decisions and wait a little bit before making a large purchase to really put some thought into it and consider if it’s something that you really want to get. This will help you feel better about spending the money knowing that you have weighed the pros and cons of going through with it or not.
- Bring coffee or tea to work from home instead of going to Tim Hortons or Starbucks, you would be surprised at how much money people waste at these places daily.
- Kick that cigarette habit, not only is it unhealthy for you but buying packs every day or every other day adds up. By the end of the year you could have invested that money spent into things that help your money grow for you, instead of something that will damage your lungs among other things.
- Don’t buy everything that is on sale, only if you were going to purchase that item in the first place even if it were not on sale.
- Do not purchase things at peak season or at popular times when everyone else is doing the same, buy things after its quieted down and the prices lower a bit. For example, Christmas and Halloween things right after these times have passed.
- Try and get a discount on most things you purchase, even minor things that you would not normally get a discount for. Bargaining is a good technique to master if you want to save money because practicing it for little things can make doing it for larger purchases later easier for you. Shopping at discount stores helps this cause quite a bit.
- People tend to enjoy purchasing things that have a good brand name. Companies know this and therefore jack up prices because they know you will buy it for the name. Try and purchase things that are not as well known, that have no brand name and are less popular. Sure, the quality may not always be up to par, but some items that you purchase without the big name are still valuable and are almost as good as the ones with the “name” per say. Always buying the brand name item is going to have you spending a lot and over time is going to make it quite difficult to save anything doing this often.
- Shop for things when there is a major clear out at a store, for example when there are dollar sales and retailers offer discount days. Look out for items that are having their price significantly reduced in order to produce more sales. Usually this means the place has an overstock of those items and wants to get rid of them so they can make room for new products and services to sell. These days can offer you an opportunity to buy things in bulk and get stuff you would not normally be able to. Without having to spend an arm and a leg for it.
- Finally, try to collect points on your credit cards if you are not in debt and are wise in how your cards are being money managed. These points accumulate over time and allow you to purchase things such as flights, gifts, groceries, and other items with special reward points.
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Don’t let the potato (expenses) outweigh your coins (income). Image by Steve Buissinne from Pixabay
Hope this helps people out and I will have a part three 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 😊.
Matt
(6ixhapppening Team Member)