The Daily Money Motivator
The Daily Money Motivator – When it comes to success in our professional and personal lives, few things are more important than achieving a reasonable standard of living through wise personal finance decisions.
Through our job choices, our saving, and our investing decisions, we determine what will be possible for us in the future, as well as when we can retire and how pleasant our retirement will be.
Indeed, this is all very important. However, without the right information available at our fingertips, we can often become paralyzed when it comes time to make those important decisions.
For instance, when it comes time to save, we might decide to put it off to another day. Or when it comes time to invest, we might jump the gun and it too early, even though we have outstanding debts that bear high interest rates.
In the rest of this ebook, we will consider 365 different tips—one for each day of the year—that you can use to make these decisions the right way. Through this book, I hope that you not only learn how to be frugal, how to save, and how to invest, but also how to steer your career (and exploit money making opportunities) in a way that will bring you closer to financial security and a broad sense of satisfaction with your life and your choices.
365 Tips for Saving, Investing, and Making Money
Tip #1: Buy products online.
One good way to limit impulse buying is to buy products online. It will allow you to more easily comparison shop. And it will also prevent you from thinking that you have to buy, so that you don’t have to drive somewhere else to make the purchase.
Tip #2: Comparison shop.
When making large purchases, you should always comparison-shop. By spending an extra 20-30 minutes to research your options, you could easily save hundreds or more.
Tip #3: Use coupons.
Whether your grocery shopping or shopping for new electronics, using coupons is always a good way to go. So, from now on, stay in the habit of checking the newspaper and other local sources of coupons.
Tip #4: Use online coupon sites.
The Internet is now awash in online coupon sites. They collect and store coupons that can be printed and used at various brick-and-mortar stores. Before you step out of your house, consider looking for coupons for your retail destination; and then putting them to use.
Tip #5: Enroll in rewards programs.
Grocery stores, clothing stores, and other retail stores now offer rewards programs. By signing up for a free membership, you can often gain access to a variety of coupons, discounts, and cash-back offers. Be sure to enroll in rewards programs that are offered at all of your favorite stores.
Tip #6: Look for specials at the grocery store.
Grocery stores often have specials on food they suspect they won’t be able to sell. Take advantage of these specials by purchasing food that you want anyway, but at a sharp discount.
Tip #7: Create a shopping list in advance.
Eliminate junk food and foods that are inessential by creating a shopping list in advance. At the end of the day, you’ll walk away having spent less, and you’ll also have all of the ingredients you’ll need for weekly meals.
Tip #8: Wait for Sales.
Some stores have regular sales. For instance, many stores hold sales after Christmas and other major holidays to sell off seasonal inventory. Take advantage of these predictable sales by delaying your purchases.
Tip #9: Limit Entertainment Spending.
Entertainment is important but can often be obtained cheaply. From now on, limit your spending on entertainment until you have paid off your monthly bills and have saved a fixed portion of your income.
Tip #10: Reduce the amount of time you spend watching TV.
TV can be an endless time-waster. It is easy to sit in front of the TV for hours on end, even if we have tasks, we could be working on to improve our lives and our finances. So, try cutting back on the amount of time you waste watching TV.
Tip #11: Avoid Surfing the Net Aimlessly.
Similar to wasting time on TV, surfing the net is a bad habit that many of us have. Avoid doing it when there are other, more productive, things you could be doing.
Tip #12: Get a Sewing Kit.
Get a sewing kit and learn how to use it. Next time you rip the leg of your pants or the arm of your shirt, simply use the sewing kit to fix it, rather than buying an entirely new article of clothing.
Tip #13: Learn How to do Basic Home Repairs.
Learning how to do basic home repairs can save you a lot of money. Instead of calling a plumber or a carpenter, you can simply do the repairs yourself, saving you money and possibly also saving you the time it would take to negotiate the repairs.
Tip #14: Limit Spending on Expensive Toys.
As a parent, it is your natural inclination to do what you believe is best for your child (and, sometimes, to simply spoil them). But when it comes to toys, more (and more expensive) is not always better. So, before you sink hundreds into the most fashionable toys, think twice about whether or not your kid might be better served by something less expensive.
Tip #15: Go to the Movies Less.
Instead of going to the movies all the time, stay home and rent a movie through your cable television service and procure your own snacks. Instead of spending $30-50, you’ll spend a mere $10.
Tip #16: Substitute Expensive Food for Cheaper Foods.
Instead of dropping $200 per week on groceries, think hard about which items are luxuries and which items are actually important components of your weekly menu. Eliminate expensive items in favor of cheaper ones.
Tip #17: Buy Store-Brand Products.
Store brand products are cheaper and frequently identical to name brand items. So, instead of immediately paying premium for the name brand product, consider at least trying the store brand once.
Tip #18: Use the Slower Shipping Option.
When it comes to making online purchases, it is often tempting to opt for the fastest shipping. From now on, practice delayed gratification and opt for the slower, cheaper shipping option.
Tip #19: Buy Gifts Far in Advance.
Many people wait until the last moment to buy gifts. As a result, they end up spending a lot of money the day or night before the event simply to get something nice. Instead of doing this, allow yourself weeks or months to pick up the product. Instead of rushing around the night before, you may stumble over it in a sale in the weeks leading up to the event.
Tip #20: Make Your Own Gifts.
Candles, jewelry, and mix CDs can often make excellent, highly personalized gifts. Instead of purchasing a gift at the store, consider making one for your friend or family member.
Tip #21: Take Public Transportation.
Public transportation is often cheaper than owning, maintaining, and paying for gas for a car. Consider selling your car and making the switch.
Tip #22: Walk more.
Tip #23: Purchase a speed pass for tolls.
Tip #24: Purchase a pass for public transportation.
Tip #25: Spend money on entertainment with high re-use value.
Tip #26: Purchase video games with high re-play value.
Tip #27: Limit consumption of flavored drinks.
Tip #28: Make coffee or tea at home.
Tip #29: Stop smoking.
Tip #30: Reduce alcohol consumption.
Tip #31: Replace incandescent light bulbs with compact fluorescents.
Tip #32: Use the air conditioner and/or heater less frequently.
Tip #33: Hold a yard sale or setup a booth at a flea market.
Tip #34: Invest more time into comparison-shopping for expensive products.
Tip #35: Base grocery shopping and meal plans around the availability of coupons.
And Much More…
You’ve now read 365 tips for living frugally, saving your money, making more money, and investing your money wisely. Only you know which of these tips can transform your life, and which are best ignored.
So, keep this document close, choose your tips selectively and wisely; and then actually stick to advice in the tip once you have decided to follow it.
When it comes to making good personal finance decisions, a plan is important. But the plan alone will not get you to your destination without clean execution, hard work, and tough decisions.
And with that, I leave you to grow your wealth, to achieve financial security, and to become happy with your life and your decisions.
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