Live Frugal
1. Maximize Every Dollar
Every time you spend money, you make a decision. Only you can decide what a dollar is worth and therefore make a value trade. The real key in maximizing your dollar is to raise your definition of what a dollar is worth.
Here is a list of a few tactics for reducing your spending and saving more money. See e-book for full list of 100. These are some of the main ones that stood out when I read through them. Great points to consider here.
i. Switch your bank accounts to a bank that respects you.
ii. Turn off the television.
iii. Master the thirty day rule. When you’re considering making an unnecessary purchase, wait thirty days and then ask yourself if you still want that item.
iv. Write a list before you go shopping and stick to it.
v. Invite friends over instead of going out.
vi. Give up expensive habits, like cigarettes, alcohol and drugs.
vii. Turn off lights before you leave.
viii. Install CFL or LED bulbs wherever it makes sense.
ix. Hide your credit cards.
x. Do a price comparison – and find a cheaper grocery store.
xi. Don’t spend money just to de-stress.
xii. Cancel unused club memberships.
xiii. Do holiday shopping right after the holidays.
xiv. Try generic brands of items you buy regularly.
xv. Prepare some meals at home.
xvi. Go for reliability and fuel efficiency when buying a car.
xvii. Learn how to dress minimally.
xviii. Look for a cheaper place to live.
xix. Hit the library, hard.
xx. Find out about all the benefits of your job.
xxi. Read more.
xxii. Set up automatic debt repayment on your student loans.
xxiii. Exercise more.
xxiv. Always keep looking ahead.
xxv. Never give up.
2. Break Your Bad Habits
Spend some time looking at where you spend a lot of money and cut these routines out. Do you really need to buy a $5.00 cup of coffee every morning of the workweek. That adds up. Look at the things you do every day that requires you to spend a lot of money and make a decision whether or not they are necessary or could be replaced.
3. Master the 10 Second Rule
Whenever you pick up an item to add it to your cart, stop for 10 seconds and ask yourself why you are buying it and whether you actually need it or not. If you can’t find a good answer, put the item back. This helps with impulse buying.
4. Don’t Make Yourself Miserable
Don’t cut down on spending to the expense of the present. If you feel something is worthwhile, then do it. The main objective is to cut down on the unnecessary, not drive yourself crazy saving.
5. Don’t Forget the Big Picture
Because you have money, that does not mean that you should purchase an item. Consider your ultimate financial goal and determine what is a need to what is a fleeting desire.
Thank you for Trent of the Simple Dollar for allowing the free distribution of this e-book. For the entire e-book, click on link below.
Everything you ever really needed to know about personal finance in one page, by Trent Hamm.
RELATED LINKS:
Personal Finance in One Page: Part 1
Personal Finance in One Page: Part 2
Personal Finance in One Page: Part 3
Personal Finance in One Page: Part 4
Personal Finance in One Page: Part 5
No comments:
Post a Comment