5 Underestimated Life Hacks That Can Save You Lots of Money
Whether rich or poor, the majority of people in this world have a complicated relationship with money. Everyone wants more of it, but the reason they want more is so that they can spend it. Naturally this is a self-defeating cycle. While there are many different ways to make more money in life, one of the most powerful things you can do to increase your wealth is to manage spending. Financial Specialist J.D. Roth suggests that “Spending less makes all financial goals easier to achieve… Frugality buys discipline — and discipline equals freedom. Depriving yourself of certain ‘standard’ choices now means you don’t have to lead a life of deprivation when you’re older.” Here are a few creative ways to save up on cash:
1. Make Your Own Coffee: Comparatively speaking, restaurant coffee is one of the most expensive items of food you can purchase. The raw ingredients in a gallon of homemade coffee is usually equivalent to the cost of a single restaurant-made cup.
2. Study Your Bank Statements: If you haven’t already, set up an online banking profile and use it to download financial statements on a monthly basis. Studying the things you spend money on will open your eyes to areas of excess.
3. Window-Shop: Before you ever spend money on a purchase, make sure you’ve compared as many vendors as possible to figure out whether you’re getting the best price. This applies to shopping in person, and shopping online.
4. Never Shop Hungry: Spending money on an empty stomach has some expensive psychological side-effects. This is because people unconsciously spend money on food they don’t need, whenever they shop hungry. Eat a full meal before you shop so that you aren’t tempted to splurge on food.
5. Drop the Name-Brands: Wearing fashionable name-brands is cool. But obsessing about name-brands when it comes to groceries and supplies is unnecessary. Consume generic and affordable products as long as they get the job done.
Good financial health all starts with practicality. It’s all about doing the little things, in the right way. Be mindful of all the expenditures which happen in your life routinely. The more thought you put into saving money, the more ways you discover to maximize your wealth. If you like what you just read from our blog, you’ll love the various informative courses, workshops and events listed on our websites and social media. Whether you’re interested in personal development, or overall improvement of your business, give us a call at 1 (888) 823-7757 to find out how The RISE Academy can help you break past your daily struggles and start soaring in success. Exclusive offers are also available on our new site nowrise.com