The Solomon Way to Wealth: Forty Days to Kingly Riches. by Rigby Bo

Author:Rigby, Bo [Rigby, Bo]
Language: eng
Format: epub
Publisher: S&R
Published: 2014-08-11T16:00:00+00:00

Ch

apter 10: Even More Ways to Save Money.

Over this next month I hope you are writing down everything you spend money on from your mortgage or rent payment right down to a candy bar and a pack of gum. It is very important to track your expenses and see what happens to your money.

In a month’s time I hope you find that you have more than enough money to put 10-20% of your income into your savings account. If you are saving with no problems then maybe this section of the book is not for you but if you find that you need a little help with your budget then you will find this information very helpful. We will talk about increasing your income later on. Right now we will just be focusing on how to make the most of what money comes in right now.

I believe that everyone can save at least $500 dollars a month if they really put their minds to it. Whatever you save from these tips and tricks put into your savings. You do not need to do these tips and tricks. I am just including them here for your information but if this is not for you then just skip them and increase your income instead of reducing your expenses.

Knock out unnecessary wasters.

The first thing to do is to immediately remove unnecessary routine purchases.

I used to buy a large coffee with cream and sugar almost every single day. That little daily habit was costing me some real savings. It was not the biggest way for me to save but it is easy and important to cut that out and make coffee at home for a lot less. How about you? Do you buy sodas and snacks from your office’s vending machine nearly daily? Why not save that money instead?

What about going out for lunch each day? That can get to be quite expensive. Why not bag your lunch for awhile?

What about the lottery? Do you play it? There was once a time that I was playing scratch off cards like crazy. I won a little money and thought it was great. I loved the rush and the excitement of winning. I had won just enough to get excited and then ended up losing more than I won. I now realize that the lottery is just a tax on the poor. The odds against you are astronomical.

Take a long look at your habits when spending. What can you cut out that will give your savings a boost. This will probably be psychologically painful at first but you need to remember you do not need to do this forever. You are just doing it now to build a strong foundation.

How to save at the grocery store

Next, make a shopping list before you go to the store and stick with it. A shopping list gives you a clear idea what you need. Never shop when you are hungry or you will end up buying way too much. Also, buy the store brands whenever possible.

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