I posted up a similar article previously listing 11 ways to save money when you can afford to - but that was a while back, so I wanted to put out a shorter version of it so it can be seen again. Buying investment property typically means having some money saved up for your down payment. Even if your'e wholesaling and trying "no money down" tactics - you are still going to need some scratch for marketing. However, one of the things I hear from people all the time is that they do not make enough money to put away for savings. Of course, they are drinking a Starbucks, smoking a cigarette, and holding a smart phone in their hand while they lament over the quandary of being too broke to put anything away from the future. But you have to ask yourself, do you really NEED all that stuff right now? The truth of the matter is that each day we throw out good money that might otherwise be used to save to the future.

What good is saving for the future?

Well, you never know when a good investment opportunity will present itself and you want to be prepared to strike while the iron is hot. When you have dollar bills, you have to look at them as your own personal employees. These employees all have the potential to go out there, find money and bring it back to you. Are you going to let your employees slack on you and act like lazy money? You work hard for you money – in turn, shouldn’t your money be working just as hard for you? Each time you take money out of your wallet, you need to think of it in terms of what it is about to do for you. Is it about to be invested in something that returns money back to you? Or are you sending it away – never to be seen again? Are you going to buy a snack with it only to flush it several hours from now? –

Someone who says they cannot afford to save money this year is going to say that next year too. And the following year. As time passes, the opportunity to put away enough money starts to wither away. Saving money is not about how much money have to do it with – it is more of attitude about your relationship with your money. Saving money is a mindset and with the right mindset, you can accomplish anything. When you are thinking from standpoint of savings, you find ways to save money everyday – whether it is comparing the price of two items or deciding in general that certain things have no place in your budget. It is in creating this frame of mind that keeps savings at the forefront of your spending activities. The following are a few ideas about how you can sock money away for the future.

1. Never buy anything on credit

Unless you can afford and plan to pay it off completely within the month. The premise behind this is that you are not spending money that you don’t have - a simple enough concept, but more difficult for many to practice. To put it simply, in order to build wealth, you need be earning more income than you are spending – when you use a credit card, you are spending money you haven’t even earned yet – this does not fall under the category of spending less than you earn. Cut the dependency on credit cards and you will regain control of your own money. If you can’t afford it with cash, then you don’t need it.

2. Comparison shop

Be sure that if you have to buy something, don’t pay more than you need to for it. Compare items and see if you can get a similar product for less – in many cases you are able to do so easily by simply spending a couple more minutes looking at your other options. Make sure that you’re getting the best deal for your money. Be sure to look at per unit pricing to see a side by side comparison of products. Sometimes, products come in smaller packages and seem to cost less, but cost more per ounce – not as good a deal. By always comparing products, you make sure that you are always getting the best price you can for the things you need. Over time this can add up to significant savings – savings that you could put away.

3. Buy used

Craigslist, Ebay, thrift stores and yard sales all offer great deals when you’re looking for tools , appliances, electronics or other items you need around the house. Not all things need to be purchased new – especially if you’re buying tools or electronic items. Nothing loses value faster than the latest electronic gadget – so why pay premium price for something that depreciates faster than you can use it? In many cases you can find a great deal buying used goods that are in great condition by taking the time look for the item used first. Make sure to try to negotiate a better price. Shop carefully, and make sure that if you’re buying online, that the seller has a good reputation.

4. Go out to eat less

Eating at home is so much cheaper than buying food that is already prepared. In many cases you can buy food that is cheap and simple to make. Eating out just once a week can easily cost up to $100 a month for two people. If you have kids, you will spend a lot more obviously. Do your best to avoid going out to eat and save up to $1,200 a year. When you do need to eat out, try to use coupons from the newspaper, internet, or even Facebook. Many people now days are looking to social media to find better deals on local restaurants, using websites like Yelp, or Groupon to get a deal on your meal. Find out what local restaurants participate in these programs.

5. Buy in bulk

You’ve seen all those barrels at the grocery store filled with foods and spices. Ever think of buying from here instead of pre-measured bottles and boxes of food? Purchasing in bulk can save lot of money and it doesn’t need to be a situation where you’re buying more than you plan to use. There are a lot of items such as sugar, rice, spices, teabags, candy, etc. that you can buy as little as 1 oz or as much as 10 lbs. Either way, you’re going to pay less for 3 oz of bulk spice than it would cost to buy the same amount already in a bottle. Guaranteed. It’s almost like finding free money when you compare how much you’re saving by buying from the bulk section.

 

Try to put your savings plan into place as soon as possible, even if it is only saving your change or skipping fast food once a week – at least it’s a start. Once you get into the mind set, it becomes easier as you start looking for more opportunities to put money away and put it to better use. Remember, each dollar you own is an opportunity – don’t squander it. These are many more ways to save money so be sure to check back for more ways to save money.

 

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Please be sure to check out my others articles on real estate, investing , and crytocurrency ( and some other random dog stuff)

https://steemit.com/realestate/@jorlauski/supercharge-your-passive-rental-income-with-airbnb

https://steemit.com/realestate/@jorlauski/top-5-real-estate-stories-on-steemit-this-week

https://steemit.com/realestate/@jorlauski/house-flip-yard-getting-cleared

https://steemit.com/cryptocurrency/@jorlauski/new-crypto-backed-by-reits

https://steemit.com/realestate/@jorlauski/48gr5e-house-flip-is-a-disaster