There’s a very elementary method to saving money. It’s an exercise in budgeting that everyone should perform at least one time in their life. Among ways to save yourself some cash, this is one of the best methods out there. It doesn’t concern being miserly, but rather finding out what it is you truly want and going after said desire. The simplicity of this exercise may make you question trying it, but please do so.
The money-saving method involves a list. Make a list of all the things your money has gone to, is being spent on right now, or have the possibility of spending in the near future. Don’t think of just a few matters. Whatever comes to mind, write everything down. Go over bank statements if necessary, as you should try including everything into this list.
The next thing you need to do is go through this list and give careful consideration to each item. Spend more time on large items, whether the possibilities are future, present or past. If, say, a jointly owned property at a beach is worth 50% of what you invested for it, runs an extra grand annually, and is hardly ever used, you should learn from this. Don’t beat yourself up over it, as this learning will enrich your life.
Think honestly on how many times you will actually use your luxury vehicle and its cost. It might need $200 for each day of use. If it’s worth that much then go for it, but perhaps you would like staying in 4-star hotels more than the luxury vehicle. An even cheaper solution would be to rent out an RV, providing yourself with more money for separate goals.
You don’t have to sacrifice to save money. All of us are mindful of the penny pinchers and scrooges, banking perhaps hundreds or thousands of dollars and not doing anything with it. You should save cash in one aspect of life and use it to make your entire life more fulfilling.
For example, suppose you’re spending ten bucks a month for magazine subscriptions you barely ever read, or dropping insurance money on a motorbike that’s hardly ever ridden. All you would have to do here is cancel the magazine subscriptions or auction away the motorbike. Would it really be such a big deal? what could you do by saving that $10 per month?
If you can save ten bucks per month, then imagine what could be done by saving $200 monthly. This is why you have to determine what you do and do not want.
Labels: A List that Will Save You Money