Page 1 of 2 12 LastLast
Results 1 to 8 of 12
  1. #1
    Senior Member Savin' Moola's Avatar
    Join Date
    Jan 2006
    Posts
    2,167
    Downloads
    0
    Uploads
    0

    Default Ten Easy Ways to Cultivate Cash

    TEN EASY WAYS TO CULTIVATE CASH

    Gain control of your finances
    by Kate Erickson

    Saving money for tomorrow is never easy when there are so many expenses for today. But don't let that stack of bills make you feel like you can never get ahead. You would be surprised how a few simple steps can help you gain control of your finances for the future.

    1. LEARN THIS PHRASE: "I can't afford it." Say it again--louder. Stand in front of a mirror and look at yourself while saying it. Straighten your posture and stick out your chest. "I can't afford it." Many people are afraid to admit this; they're afraid it'll make them look bad. But see how good you look while saying it, standing straight and proud. There's nothing wrong with admitting you can't afford something. If you don't have the cash to buy it today, save until you can afford it.

    2. SEPARATE YOUR WANTS FROM YOUR NEEDS. You want a latte, but do you really need it? A cup of coffee with some cream and a spoonful of cocoa will, with a little imagination, fulfill the craving and costs pennies compared to a coffeehouse latte.

    Do you really need another pair of shoes or earrings or that outfit in the window of that shop downtown? Or do you simply want it? Be careful--by wanting something, you may deceive yourself into thinking you need it. But your needs are quite simple--food, shelter, adequate clothing. On the other hand, your wants can send you into bankruptcy.

    3. CHANGE YOUR VIEW OF MONEY. In their book, YOUR MONEY OR YOUR LIFE, Joe Dominguez and Vicki Robin suggest that before you buy anything, you calculate the real cost. For example, if you make $25,000 a year, you take home, after taxes, about $9 an hour.

    Whenever you see something you want to buy, stop and think how many hours you need to work to pay for it. You have to work four hours to buy a $36 blouse; two hours for a pair of $18 earrings; and nearly two days for a $120 video game machine for the kids. When you look at something in terms of how many hours you have to work in order to buy it, you're better able to decide whether it's worth it.

    4. PAY OFF CREDIT CARDS. If you're carrying $5,000 in credit-card debt, you're probably paying at least 18 percent in interest. That's $900 a year. At $9 per hour, that's two and a half weeks of working each year just to pay the interest. Stop using credit cards, and begin paying at least the minimum monthly payment plus the interest.

    If you're in a situation where your credit-card debt is overwhelming, there's a wonderful organization available to help--Consumer Credit Counseling Services. They'll work with your credit-card companies to reduce your interest rates (in some cases to zero), and put you on a payment plan to free you of credit-card debt within five years. Call them today at 800-762-1811.

    5. STOCK UP ON SALE ITEMS. Take advantage of supermarket discount cards and coupons. Shop at warehouse and discount stores. You can save $10 to $20 a week. That's $500 to $1,000 a year.

    6. BROWN BAG YOUR LUNCH. Going out to lunch each day with co-workers can be a lot of fun. But it's also expensive. It costs at least $5 a day or $1,300 a year. Take your lunch three days a week and save nearly $1,000 a year.

    7. CUT OUT THE MORNING TREAT. Do you really need a latte and muffin every work morning? It's a delightful way to start the day, but is it worth $1,000 a year? Reduce it to three times a week and save $400.

    8. CURB TAKE-OUT DINNERS. One of the worst parts of the day can be leaving work only to be faced with making dinner. It's so much easier to grab something on the way home. Nutrition issues aside, it also adds up to big bucks. An average take-out bill for a family of four is $20. If you buy take-out once a week, that's $1,000 a year. Cut it down to every other week and save $500.

    9. BOTTLE YOUR CHANGE. Whenever you have change in your pocket or purse, toss it into a jar or wide-mouth bottle. After a year, count it up. People report saving $150 to $500 by doing this, and using the money to take the family on vacation.

    10. SET UP SAVINGS PLANS FOR THE FUTURE. Kids' college education and your own retirement are expenses you're going to be faced with down the road. Even if it's only $25, set money aside each month to save for these events. In order to maximize your rate of return on these accounts, you'll need to consult a financial advisor.

    Kate Erickson is a Registered Investment Advisor with Linsco/Private Ledger in Ft. Bragg.

    From: "Krista"
    Date: Fri Jul 26, 2002 2:14 pm
    Subject: TEN EASY WAYS TO CULTIVATE CASH

  2. The Following 14 Users Say Thank You to Savin' Moola For This Useful Post:


  3. #2
    Senior Member Savin' Moola's Avatar
    Join Date
    Jan 2006
    Posts
    2,167
    Downloads
    0
    Uploads
    0

    Default

    I was just reading the e-mail "TEN EASY WAYS TO CULTIVATE CASH" and
    the "BOTTLE YOUR CHANGE" part stuck out to me. My DH and I have been
    doing this for three years now and it really adds up. We've made a
    new rule to never use change when buying something. Even if it's
    $9.04 we still use a ten and pocket the change. Every day when we
    get home we dump all the change into one of those 5 gallon water
    jugs. At last count, which was over 7 months ago, we had a little
    over $1000 in that jug. It's about 1/3rd of the way full. We are
    saving up to go on one hell of a vacation with our two children in a
    few years. That way we can enjoy ourselves and not have to worry
    about how much we are spending. BTW we don't notice that there's all
    this money sitting over in the corner. It's not a missed thing when
    you are just putting change in it.

    Maya in Illinois

    From: "samii619"
    Date: Sun Jul 28, 2002 11:50 am
    Subject: BOTTLE YOUR CHANGE.

  4. #3
    Deal GURU mdowdy's Avatar
    Join Date
    Sep 2008
    Location
    VA
    Posts
    1,225
    Blog Entries
    11
    Downloads
    0
    Uploads
    0

    Default Re: Ten Easy Ways to Cultivate Cash

    great tips on saving money
    Mdowdy

  5. #4
    still digging' my way out QueenSissi's Avatar
    Join Date
    Oct 2008
    Location
    Portugal
    Posts
    42
    Downloads
    0
    Uploads
    0

    Default Re: Ten Easy Ways to Cultivate Cash

    Great tips and I really liked the idea of saving change. I used to do it but then I started "stealing"~it for little things... Got to learn not to do it
    live and help live

  6. #5
    Budget101 Guru starsinnight's Avatar
    Join Date
    Sep 2008
    Location
    Miami, FL
    Posts
    443
    Blog Entries
    9
    Downloads
    0
    Uploads
    0

    Default Re: Ten Easy Ways to Cultivate Cash

    I also noticed alot of the ideas were about going out to eat. I feel like I am going through eating-out rehab since bf and I agreed we are no longer going out to eat. We used to atleast once a week and now it's been atleast a month since we haven't gone out (besides using Xmas gift cards). At first I found it really hard, always on the back of my mind. But what really helps... is eating a small snack before going anywhere. and try to keep a snack with you. it really reduces the tempation. if I go out with friends, i make sure to eat something first so that i dont get hungry and want to get something. and instead of thinking about where to go to eat- i instead think about what i can make at home.

    oh yea- and it saves alot of money too...

  7. #6
    Deal GURU mdowdy's Avatar
    Join Date
    Sep 2008
    Location
    VA
    Posts
    1,225
    Blog Entries
    11
    Downloads
    0
    Uploads
    0

    Default Re: Ten Easy Ways to Cultivate Cash

    Quote Originally Posted by starsinnight View Post
    I also noticed alot of the ideas were about going out to eat. I feel like I am going through eating-out rehab since bf and I agreed we are no longer going out to eat. We used to atleast once a week and now it's been atleast a month since we haven't gone out (besides using Xmas gift cards). At first I found it really hard, always on the back of my mind. But what really helps... is eating a small snack before going anywhere. and try to keep a snack with you. it really reduces the tempation. if I go out with friends, i make sure to eat something first so that i dont get hungry and want to get something. and instead of thinking about where to go to eat- i instead think about what i can make at home.

    oh yea- and it saves alot of money too...
    The savings of money is the reason why a lot of the tips given include going out to eat. It is a big expense. Even going to a fast food place can cost a family of four over 20.00. you could get at least 3 meals out of that 20.00
    Mdowdy

  8. #7
    Budget101 Guru naturalmommy's Avatar
    Join Date
    Nov 2007
    Location
    Currently, Arizona,USA- soon to be Davao, Philippines
    Posts
    254
    Blog Entries
    6
    Downloads
    0
    Uploads
    0

    Default Re: Ten Easy Ways to Cultivate Cash

    Great Tips on saving Money. Thank you for posting this.
    Terra , Wife to Kevin, Mom to Cassidy (12) and Ciara (2)

  9. #8
    Budget101 Guru mbabb29340's Avatar
    Join Date
    Apr 2007
    Location
    South Carolina
    Posts
    210
    Blog Entries
    1
    Downloads
    0
    Uploads
    0

    Default Re: Ten Easy Ways to Cultivate Cash

    Great tips!!! Thanks for sharing!!!


Page 1 of 2 12 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

(C) Melissa 'Liss' Burnell & Budget101.com 1995-2016
Material from www.Budget101.com may not be copied or distributed, or republished, uploaded, posted, or transmitted in any way, without the prior written consent of Budget101.com, EXCEPT: you may print recipe pages for your personal, non-commercial home use only, provided you do not delete or change any copyright, trademark, or other proprietary notices. Modification or use of the materials for any other purpose violates Budget101.com's intellectual property rights.