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More Money Making TipsClipped from: http://www.toasteggme.com/index.php/money-making-talk-etc/more-tips-to-keep-the-money-you-make/ |
It is said that regardless of how much money you make if you cannot keep the money, than you might not have any money at the end. A lot of millionaires actually did not make a lot of money but they sure know how to keep the money they make. Here's an article from Yahoo Finance title "Stretch Your Paycheck" introduces some tips and guides to keep you keep the money you make and perhaps can help you become a millionaire.
Trim your grocery bill. This is the part where almost every family lost their count of money when it comes to grocery. It is better to set a maximum budget for grocery before heading to the stores. One of the most important things that we need to do is always keep track of our purchase. I always treat it the same as my online business. Either it is grocery or business, over spending is the same as losing money. Another simple way to reduce the expenditure is by using coupons. Honestly I think most people know the existence of coupons but just that most of us are either lazy or too troublesome to use them.
Cut your cell phone bill. This is the part which I mostly over pay for the cell phone bills. In order to cut down the cell phone bill we need to actually take a good look in the plans offered. There are lots of features that we normally don't use or not needed. In fact it will be best to go for prepaid plan if you're not using cell phone that much.
Boost your deductibles. Auto and home insurance always have the space which you can reduce your total payment. In most cases if you're able to increase your monthly payment, you might get a discount.
Switch your TV package. If you have a long working hour job, it's unlikely that you'll spend lots of time in front of the TV. It's better to just cut the cables or satellite TV packages. In fact I think you can get almost everything the same from an online computer.
Rein in your eating out. My mom always tells me that "It's better to cook your own food than dinning outside as you'll save money and it's much healthier." Let us just take a look at how much we spend eating outside. If you actually calculate the money that you spend for the food, coffee and snacks, it can cost as at least quarter of your pay. Make a comparison between cooking for your own food and eating outside. You might be surprise of the amount of money that you can save.
Get rid of your stuff. If you're not using them, sell it. A lot of stuff will be useless or outdated if you keep them for years. It will be better to sell the stuff when there are still some values on them. At least trade it for the money for now. Purchase them if you ever need to use them again. This way you won't be keeping lots of old junk.
Refinance your mortgage. This is the most troublesome method but if you do it right the reward is great. Always consult an expert before taking any action. Careful calculation can help you save few hundred dollars a month.
Unload your second car. If you have a car and you're not using it much, sell it. Car is the one asset that values decreases over time. Besides you need to pay for the maintenance and insurance. Also if you don't drive the car for a long period of time, it can break down easily.
Some of the above actions are just a cut down of the things that you might not needed. Some of the stuff you can get just the same with a lower price if you know where and how. All you need to do is little bit of research and you'll save hundreds of dollars a month. I suppose we call this the smart way to spend money.
Trim your grocery bill. This is the part where almost every family lost their count of money when it comes to grocery. It is better to set a maximum budget for grocery before heading to the stores. One of the most important things that we need to do is always keep track of our purchase. I always treat it the same as my online business. Either it is grocery or business, over spending is the same as losing money. Another simple way to reduce the expenditure is by using coupons. Honestly I think most people know the existence of coupons but just that most of us are either lazy or too troublesome to use them.
Cut your cell phone bill. This is the part which I mostly over pay for the cell phone bills. In order to cut down the cell phone bill we need to actually take a good look in the plans offered. There are lots of features that we normally don't use or not needed. In fact it will be best to go for prepaid plan if you're not using cell phone that much.
Boost your deductibles. Auto and home insurance always have the space which you can reduce your total payment. In most cases if you're able to increase your monthly payment, you might get a discount.
Switch your TV package. If you have a long working hour job, it's unlikely that you'll spend lots of time in front of the TV. It's better to just cut the cables or satellite TV packages. In fact I think you can get almost everything the same from an online computer.
Rein in your eating out. My mom always tells me that "It's better to cook your own food than dinning outside as you'll save money and it's much healthier." Let us just take a look at how much we spend eating outside. If you actually calculate the money that you spend for the food, coffee and snacks, it can cost as at least quarter of your pay. Make a comparison between cooking for your own food and eating outside. You might be surprise of the amount of money that you can save.
Get rid of your stuff. If you're not using them, sell it. A lot of stuff will be useless or outdated if you keep them for years. It will be better to sell the stuff when there are still some values on them. At least trade it for the money for now. Purchase them if you ever need to use them again. This way you won't be keeping lots of old junk.
Refinance your mortgage. This is the most troublesome method but if you do it right the reward is great. Always consult an expert before taking any action. Careful calculation can help you save few hundred dollars a month.
Unload your second car. If you have a car and you're not using it much, sell it. Car is the one asset that values decreases over time. Besides you need to pay for the maintenance and insurance. Also if you don't drive the car for a long period of time, it can break down easily.
Some of the above actions are just a cut down of the things that you might not needed. Some of the stuff you can get just the same with a lower price if you know where and how. All you need to do is little bit of research and you'll save hundreds of dollars a month. I suppose we call this the smart way to spend money.
