Financial Friday

10 Money Saving Ideas

• Do it yourself,
• Find someone to talk money with,
• Actually eat your leftovers, 
• Pack a lunch,
• Wait until things go on sale,
• Sleep on it before buying,
• Negotiate,
• Cut up credit cards,
• Take out cash, when the cash is gone stop spending money,
• Start an auto draft to a savings account.

Last week we talked about doing things yourself, this week lets talk about finding someone to talk money with.  As with everything in life you should find someone to mentor and hold you accountable for your money decisions. 

Finding a mentor is hard.  Everyone will give you advice about money.  Most of them are broke.  They don’t have any money but are going to give you good advice about your money, probably not.  You need to find someone that has the same values as you and that also is successful with their money.  Define success by what you want to accomplish with money.  Just make sure it’s not just material things (you can get anything with a credit card, but sooner or later it has to be paid for).

Find someone to be accountable to.  This person should be someone that is in the same stage of life and is trying to accomplish the same thing.  Just someone that will give you good advice and a pep talk when you need help, and that will talk you down from buying that new sports car for nothing down and a payment more then your mortgage. 

Next week we’ll talk about leftovers.  Just think about how much you spend on going out to lunch everyday.

Stay Safe,

Ben 

Financial Friday

10 Money Saving Ideas

1. Do it yourself,
2. Find someone to talk money with,
3. Actually eat your leftovers, 
4. Pack a lunch,
5. Wait until things go on sale,
6. Sleep on it before buying,
7. Negotiate,
8. Cut up credit cards,
9. Take out cash, when the cash is gone stop spending money,
10. Start an auto draft to a savings account.

Doing it yourself is always overlooked when trying to save money.  We are in the golden age of media.  You can find a how-to video for anything on YouTube. 

Recently my sister took her SUV in for an oil change.  The dealer wanted to charge her $50 to replace the air filter.  A quick look on YouTube showed her how easy it was.  Then she went to an auto parts store and asked the guy at the counter for one.  Total price, $19.95.    It took about the same time, she saved almost 60%, and learned something new.

The next time you need something done, do a quick Internet and YouTube search and see if you can do it yourself.  You may be able to save big.

Next week we’ll talk about finding someone to talk money with.

Stay Safe,

Ben