If you want to be a wealthbuilder you have to know our mantra. Which is Make More, Save More And Build More
I tend to talk about making more money more often then talking about saving more. In reality building wealth is not always about how much you can make but actually about how much you can save too.
So lets get into the 10 ways to save more money fast!!
1. Keep More Cash On You
When your out on a date at a restaurant or even at a sporting event. Its easier to whip out a credit card and swipe but its way harder to go ahead pull out cash and break $100 bill or count out a bunch of cash without feeling some type of way when it coming out of your hand. It makes you think twice about spending it.
2. Automatic Deductions to a high interest savings account
Get automatic deductions from your check to your savings account that you don’t have immediate access to. This will take some time to grow but if you put in a savings account with some interest it will grow quicker then you think especially if you have it set up for compound interest.
3. A Monthly Breakdown on what you make and spend
This is definitely a need. I used to never do this but once I started breaking down how much I spent and how much I made then I was able to see what I was doing that was wrong. My saving increased because I knew where my money was going.
4. Try to avoid advertising
This might sound crazy coming from a person who makes there money off advertising but if you want to save money you don’t need to know when all the newest stuff comes out.
If you know when all the coolest doo hickies come out then you feel like your missing something. Thats when impulse purchases happen. You don’t need those. Those are budget busters!
5. Now vs Later
If you do see somethin you like then you might want to wait for atleast a month before purchaseing. This will give you time to really see if its something you really want vs what you really need.
6. Turn your prices into hours
Whenever your going to buy something really expensive ask yourself how many hours will it take for you pay for that item. Then ask yourself is it worth the time. If its not then put the shirt or whatever it is back on the rack and walk away slowly.
7. Focus on increasing your income.
Now this sounds crazy but most people don’t want to change there lifestyle but want to save money. So my thing is the only way to do that is increase your income. If you can find a way to make atleast $300 – $500 extra to save that would put you in a position to save fast.
8. Cancel your memberships to gyms and things like spotify and amazon.
I know these memberships don’t cost much but if you took the money you spend on those memberships you will be able to make a considerable amount of savings in a short period of time.
9. Shop around for the lowest prices
Don’t just go and buy the coolest new thing as soon as it comes out. Shop around for a better price. Use sites like yroo.com, trucar.com and travelsites which are to many to mention.
But you get the idea …shop around!!
10. Do a Financial Fasting
If you want to really get drastic with it. Live a basic lifestyle for atleast 30 – 60 days straight. I’m talking no cable, no shopping other then food and other basic neccessities. I advise you to do this if your looking to make a savings stack really quick!
So these are the ten ways to save money fast. Some of these points did come from other videos but I feel like these are the most important points of saving they touched on.
I’ve tried them all to get up to a savings of $10.000 in the bank within 3 months which is why I had to share them with yall.
The Best Point In My 10 Ways To Save More Money Fast
Now if your like me #7 was actually what I focused on first. Increasing my income so what if I told you there was a simple formula to six figures all online.
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The 10 Ways To Save More Money Fast