There is a deep-rooted commonality that most successful people share; they all exercise excellent money-saving tips. As a matter of fact most of them don't "save" money per se, they protect it, but, that is a conversation for another day. This outline will provide you with some basic but excellent money-saving tips.
1. Pay Yourself FIRST!
PAY YOURSELF FIRST! PAY YOURSELF FIRST! PAY YOURSELF FIRST! Have you gotten the message? PAY YOURSELF FIRST! Why is it that most of us work so hard for 'other people'? To work 40 hours per week and give the first dollar from their paycheck to someone else continually baffles me!
Most financial experts and wealthy people will agree that paying yourself first is really the key to wealth.
Easier said than done, right? Most North Americans have little to no money left after paying "necessary" bills, so how is one supposed to ever get ahead? Start by paying yourself first as if it is a non-negotiable bill. Try cutting back on variable expenses (i.e. your morning lattes) and pay yourself first.
2. Set Financial Goals and IMPLEMENT Them
Most people have never learned how to set goals. This is a sad but true reality. Set goals to save, for both short-term and long-term. Pick 3 main goals and work on the main goal first. Once you have your goals written out (yes, you should write down your goals and review them EVERYDAY) begin your implementation strategy right away.
Most people find the thought of saving overwhelming but, once you know where you want to go it's easier to figure out how to get there.
Remember... TAKE ACTION!
Consider this analogy from Bob Proctor:
"Five birds are sitting on a telephone wire. Two of them decide to fly south. How many are left? Three, you say? No, it's five. You see, deciding to fly south is not the same as doing it. If a bird really wants to go somewhere, it's got to point itself in the right direction, jump off the wire and flap its wings. Good intentions are not enough. It's action that really matters."
Having excellent money-saving tips requires you taking action. Taking action is the best way to getting ANYTHING done. The more you 'think' about doing something, the more likely you are NOT to do it!
3. Use Cash Whenever Possible
How many times have you heard, "Will that be cash or credit?"
We've become a cashless society preferring our "Plastic Paradise" over physical cash in hand. The days of bulky wallets and heavy change purses are either gone or are rapidly fading away. To be fair though, I do agree that carrying plastic cards are far lighter in the pockets and easier on the eyes; but lighter and "prettier" comes with a heavier and uglier price, so...
LEAVE YOUR CREDIT CARD AND BANK CARD AT HOME!
You see, only carrying the cash you are prepared to spend on any given product will prevent you from buying the next level up and paying for features and benefits that you didn't want or even need in the first place. According to the article "Cards Encourage You to Overspend" on Soundmoneytips.com, people will spend more with a credit card compared to cash. In fact, a Dunn & Bradstreet study found that people spend 12-18% more when using credit cards than when using cash. And McDonald's found that the average transaction rose from $4.50 to $7 when customers used plastic instead of cash."
By having cash on hand and a budget to stick to - key word 'stick to' - it will limit any possible overspending damage and may motivate you to keep an eye out for discounts and/or deals to stretch your money further.
Using cash whenever possible is one of my favourite 'excellent money-saving tips' because when your well runs dry you cannot "borrow" to dig a deeper one.
Sometimes, setting up an "out-of-sight-out-of-mind" savings plan works best and makes the old Babylonian theory of paying yourself first an easier habit to adopt.
Article Source: http://EzineArticles.com/?expert=Ryan_D._Forrester
Article Source: http://EzineArticles.com/8978552
No comments:
Post a Comment