Money Saving


[Music] if you want to be financially successful in life you have to master the art of saving money well by saving I don’t mean holding on to every dollar you have let’s just call it the art of spending nothing more than you actually need the large majority of people currently have this problem and it’s one of the reasons why so many hard-working smart and talented individuals never become wealthy so here are a few tips that you can start using today to save your money and use it for a better cost first use the 30 day rule whatever it is that you want to buy write it down on a piece of paper and write the date next step you have to wait at least 30 days before actually trying to buy it this helps to prevent impulse buys and also if you wait some time you’re more likely to buy the item at a reduced price also often you will find that after 30 days some of the items on the list are no longer interesting to you and you will discard most of them essentially buying only what is useful and important to you second commit to paying yourself at least 10% of your paycheck every single month this is one of the lessons I’ve learned from the book the richest man in Babylon it says that we just unwell start with saving the majority of people work hard and when they get their paycheck we usually pay everyone else but themselves they pay for the cable TV pay for clothes they don’t need they buying your watch and by the end of the month they are left with nothing instead pay yourself at least 10% of your income before you spend it on anything else if it helps you can set up automatic deductions at your bank so every month a percentage of your income will be transferred your savings account and after a while you will have money that is all yours which you can use to build your side business or safely investment in stocks you can check my other videos on the channel about how to build a said business and investing in stocks for beginners I’ll post the links in the description down below third write a list before you go shopping and stick to it’s a fact that you’re more likely to buy unnecessary items if you’re shopping without a plan when you’re without one you typically end up making impulse buys and unplanned purchases and those things cost so before you spend your hard-earned money carefully planned your shopping place and more importantly stick next this one is pretty simple but very powerful cut off your television what you’re essentially doing when watching television if you’re paying to watch something that was automatically served to you and most of the time you had no intention to watch but on a deeper level you’re spending your time time can be money and when you waste time you waste money so you’re basically paying someone to losing money I don’t know about you but there is a trade I cannot accept and I haven’t watched TV for the past four or five years the benefits of doing this are enormous you’re getting your money back from the monthly subscription you used to pay let’s exposure to spending and using ads a lower electric bill and more time to focus on other things in life such as building your business reading learning and someone and finally change your mindset from saving more to earning more it’s easier to save more money if you earn more money this channel is all about improving yourself and learning as much as possible with the goal to have a better life so instead of focusing on saving as much as possible shift your focus on how you can increase your skills and value that you earn as much as possible but be careful not to fall into the trap of spending more just because you earn more absolutely so many people get a raise they instantly feel good and later they spend all the money so in the end is just the same as if they’ve even got the raise in the first place they’re left with zero don’t be that guy even if you get a raise or suddenly find yourself with extra money keep your expenditures the same so we grow and learn as much as you possibly can combine that with the tips from this video and I guarantee you in no time your savings will start to increase rapidly offering you options to invest them in your future or just feel more secure and confident overall keep it like button if you liked the video and share it with someone you think will find it interested anyway thanks for watching and I’ll see you next time you [Music]

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