People love to blow all their money! I recently found out that when gas prices drop, Many people run out and buy bigger cars like trucks and such, So the price of everything else goes down.
Why not enjoy that extra money you are saving on gas and put it into savings?
I guess it's none of my business what you do with your money, But for those of you looking to grow your savings, I have some awesome tips.
I recently read that people spend the most money on three things in their lives.
- A place to live
There are so many ways to cut these things back!
The most expensive, Also the least flexible is probably your home. That can be hard to save money on.
Here are some things you can do
- Rent out your apartment or home, While you're away, Or if you have extra rooms.
- Consider having a part time job with your renter. Sometimes they'll waive your rent or reduce it.
Going out to eat!
While it's fun, And delicious going out to eat costs a lot of money over time.
Reducing how much you eat, And what you eat, Can dramatically improve your spending.
Try buying those meal containers, Cook ahead and freeze food for later use.
Only buy what you'll eat. And reduce the amount of going out to eat you do. This will help!
I used to love to drink After I turned 21. I wanted to take advantage of my new power...
The fact I could buy my alcohol. I started seeing how expensive it was! Then I went to the bar one day, Had a few drinks with my meal, And was horrified by the prices.
Now I see why many people who frequent the bars on weekends are often broke. Even a couple drinks can add up super quickly. Not only that but you waste time being "hung over" when you could be more productive. Having the occasional beer once in a while, Won't break the bank. But if you do it often, It may be time to pick up a better hobby.
Some people baffle me. They run out and get a mortgage, and they continue to pay the bare minimum WHAT!?
You do realize they are charging interest on you!?
They do the same thing with student loans and other credit card debt.
When I got my first card at 18, I started laughing when they told me I only had to pay "35.00" a month. What?? I immediately paid the whole thing off on my next check. I borrowed 4,000 in student loans... I paid 0.01 in interest Because I was throwing my every paycheck at the balance. Eating cheap meals to avoid spending.
Many people don't realize how much interest adds up. Banks have a lot of money for a reason. If you can't control yourself, It might be best to avoid loans completely.
If you have to take out a loan, Do the math and figure out what is most cost effective. Then try and get am emergency savings account for next time.
Continued On the next post....