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Insights on money, career and trading

Making Money By Saving Money: Ground Level Personal Financial Management

Posted on June 14, 2016 by Daniel at 1:38 pm

There will be times when you simply can’t figure out how to add income to your personal financial equation, but you know that somehow you still need more money to get to the standard of living that you want. So, instead of approaching from the ‘need more angle,’ perhaps consider approaching from the ‘use less angle.’

To illustrate this principle, think about how you would make money by saving money by doing things like cutting out excesses, paying attention to coupons, planning ahead for bulk purchases, using logic instead of feelings when it comes to purchases, and thinking about the vehicle equation.

Cut Out the Excess

When it comes to personal expenses, unnecessary excesses are some of the first things to cut in order to make money by saving it. And there are simple things like quitting smoking, and then there are major things like taking on an alcohol addiction head on. When you look at alcohol addiction facts, one of the first things that will slam you in the mind is the incredible expense. Just taking care of those extra behaviors can make a huge difference in your monthly expenditure balance. If the addiction is severe and you need professional assistance, you can look for a rehab center Thailand (i.e., if you want an international de-addiction service) or a similar service provider in your close vicinity.

Pay Attention To Coupons

Using coupons can make a huge difference when it comes to saving money as well. These coupons can provide you with better discounts and money-saving options. You can find online coupon sites, you can sign up for online coupon reminders through email, you can clip paper coupons in local newspaper – there’s just really no use in buying things for full price when you can get them for far cheaper with a little bit of extra planning and observations about the types of discounts that are available.

Plan Ahead For Bulk Purchases

Another great way to save money is by buying things in bulk. Anything that doesn’t go bad, as long as you have the room to store it, is going to be way cheaper if you get a lot of them at the same time. Some common examples would be things like toilet paper or paper towels. The percentage of savings is incredible if you do it right, and that means more money in your pocket.

Use Logic, Not Feelings

It can be easy to get carried away when it comes to trying to save money, but remember the cost of time and space when you’re doing your internal narrative. For example, you might think it’s cheaper to head out of town a few miles and get gas 3 cents per gallon cheaper, but the cost in time in money doesn’t make that worth it at all. Use your head!

The Vehicle Equation

Think about how much your car costs to own and maintain. Then think about if you bought a junker. How much money would you save every single day on that junk car? And when it wears out, you just buy another one. That’s a classic way of thinking that can improve your financial situation dramatically and instantly, as long as your ego doesn’t get in the way.

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Insights on money, career and trading