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How to Save Hundreds of Dollars – A Money Saving Tip That Many People Overlook

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When people talk about saving money, people think of the basic things such as cutting back on how often you go out to eat and/or pick up a coffee, shop when there are sales, focus on just buying your daily necessities, and one that many people dread to hear–create a monthly budget. While these are all great starting points when it comes to saving your money and things that I agree will help you save more money from month to month, there is something that people often overlook and never really talk about but it comes down to your consumption of your resources. The good thing is, this can apply to many things in your everyday life and it is never too late to start!

Think about it, if you used a smaller amount of your daily goods, you would not need to replenish them as often. This could include basic items such as your skincare products, shampoo, makeup, etc. If you used just a little lesser of an amount of these items or perhaps they are items that you use sparingly, then they would last you for a much longer time meaning that you wouldn’t need to buy them as frequently.

While I would agree that going out to eat can be costly, you can still treat yourself to a nice meal but that does not mean that you need to go overboard and buy an appetizer, main course, drink, a dessert, and etc. Maybe just getting a light appetizer and a drink is enough where you feel satisfied. Another thought is to get a meal that provides a large quantity and plan to only eat half of it so that you have the other half to take home which would provide you a second meal. This way, you paid for one meal but it will last for two meals.

When you are home, do you pay attention to the energy that you are consuming? If you are not using a light, then shut it off. The same also goes with your water usage where you can control how much you are using. If you do not really watch much TV, maybe it is a good idea to cancel your cable package or reduce it so that you just have the basic channels. In other words, there is no need to pay for more than what you need.

While many of us rely on cars to get to work, there are still ways to cut back on your gas costs. Maybe when you run your daily errands, try to coordinate it where the locations are within a closer distance to each other so that you are making fewer trips. If there are scenarios where you can carpool with someone, then you should. There are definitely little ways in which you could reduce your gas usage which could save you extra money each month.

At the end of the day, making the conscious effort to conserve your resources could literally save you hundreds of dollars in a month and within the course of the year! While it might take some discipline on your end, if you actually take the time to pay attention to how you use your resources and cut back on the areas that you could, you would be amazed with how you are are able to get more bang for your buck on your daily expenses. Even if you have financial stability or you are in a good financial place in your life, who doesn’t want to expand their savings even more and accumulate more wealth? Some of the wealthiest people who you know are wealthy because they know the secret of cutting back on their spending and already have applied these habits in order to increase their wealth. Again, if you can save more, why not? 😉

3 Qualities Needed to Attract an Abundance of Wealth

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Most people want more money and strive for financial security; however, many find themselves in bad financial situations. That could include having endured a hefty amount of debt, barely being able to pay the bills, or simply not being in a position to save and/or invest their money. No matter what your situation is right now, there are ways you can change your financial fate and be on the path of attracting more wealth. This first comes from within and examining your money mindset while adapting these qualities that can help you accumulate more wealth over time.

[Money] motivation– It is one thing to be motivated in various areas of your life but to become wealthy, you specifically need to be money motivated. By this, I mean you are driven to want to earn a lot of money, not simply being comfortable with having enough to get by each week. People who are money motivated are not interested in just having enough money to survive and often times you will never see someone who is money motivated ever broke. Why? They are so money motivated that the idea of being broke is not even an option or way of life. In their minds, it is an unacceptable so things never get that financially dire. Now a person might start off not having much money or perhaps poor which would propel this person to become money motivated. As a result, you often find these people to really maximize their money earning potential because it stems from their deep money motivation.

Responsibility – Responsible people tend to have the ability to save money and large quantities of it. Being able to save means more money in their bank accounts. I strongly believe that it does not matter as much how much a person can earn but how they ultimately manage their money. People who make less money still have the potential to accumulate wealth by simply being exceptional savers which means it might take them longer to become wealthy but at least they’re on the road to financial security. Whereas on the opposite spectrum, there is a reason why you see millionaires and lottery winners go bankrupt. This is a classic example of poor money management. Which translates to irresponsibility which is why it truly is essential to be responsible when it comes to your money.

Discipline – Discipline applies both ways when it comes to your overall money management. It applies to how you save and how you earn. If someone has enough money to buy something but says no, that requires a high level of personal discipline. This could apply to very expensive items but also inexpensive items that by not spending, a lot of money is getting saved over time. I always say that every dollar counts which is why it is important to save on both the little things along with high ticketed items. In regards to making money and elevating your earning potential, you also need a good amount of discipline to put in the time and work that is needed to make the money. You might feel overworked or just want some personal time off but thanks to being disciplined, you recognize the reward of earning the money than being lazy and not working for it. Discipline essentially requires a no pain, no gain mentality. You do what you have to do to earn the money but also preserve it by saving and investing it as much as you can, even if that means giving up material goods and services that you would normally spend your money on.

[On a final note, I can tell you from my personal life experience, that having these three qualities are highly effective in building wealth. I would not necessarily classify myself as rich (yet 😉 ) but I can tell you that I live a good life where all my essential needs are met along with having both an emergency savings and retirement funds that I continue to grow thanks to having money motivation, responsibility, and discipline].