Money Management Guide » Live Cheap

Live Cheap Today – Invest For Tomorrow

admin — Fri, 17 Apr 2009 19:13:18 +0000

Look around today and it seems at if “living within your means” has fallen out of fashion, with the many people seemingly intent on getting into as much debt as possible. Regardless of how much someone actually takes home in their paycheck it never seems to be enough.

Credit card debt, overdrawn current accounts and high interest bank loans are the order of the day. This type of financial behavior is obviously unsustainable and we’re starting to see the consequences come to the surface as the Credit Crunch begins to bite.

Learning to live cheaply may sound unappealing, but if you are to secure a life without financial worries then living within your means now will greatly enhance your position in the future. To some people the very thought of drawing in their spending is enough to bring them out in a cold sweat but start to exercise a little self control in your financial life you’ll find that its much easier than you anticipated.

It is often surprising how much money we actually throw away on a daily basis, small items which we buy without thinking add up to a huge expensive over the year. If you want to learn to live cheaply, start by keeping an eye on everything you spend your money on for a month, then begin to cut out some of the non-essential items from your daily routine.

When you get to the stage that you are spending less than you bring in each month you should start to learn to invest money in your future. I always advise my clients to take the first 10% of their wage and to use it to “pay themselves first” by putting the money into wise investments. This may seem like a pointless task if you have a small income but with the miracle of compounding interest the money you start saving today will grow at an extraordinary rate, giving you a comfortable financial cushion in days to come.

When the time comes that you have a financial emergency or you are looking to retire, you will be thankful that you took the first step toward saving for your future today.

5 Easy Money Saving Tips To Get You Started

admin — Fri, 17 Apr 2009 19:10:16 +0000

There’s no such things as easy cash in this world so it pays to try and protect as much of our earnings as possible. If you want to begin living more cheaply you’ll need to start somewhere. Here’s a few easy-to-implement ideas that will get you on the road to living frugally.

1.Sell A Car

If your living in a household with more than one car ask yourself how many you really need. You’ll be surprised how easy it to adjust when you force yourself to let go, and think of all the money you will save on petrol, insurance, tax and MOT bills.

2.Stop Shopping

This one is obvious but many people struggle with it, hence the reason that they have money problems in the first place. Only visit shops when you are going for a specific item that you are sure you need, doing so will reduce the chance of you buying things you will never use. Learn not to treat shopping as a form of expensive entertainment.

3.Take Your Lunch To Work

This one can take a bit planning if you’re the type how likes to have lunch in a restaurant every day but with a bit of practice you’ll wonder what all the fuss was about. Eating out can be a unnecessary major expense, so plan ahead and buy enough food at the supermarket to make you lunch for the week. You will save a fortune!

4.Cut Down On Your Mobile Phone Use

So by now you realize I’m crazy, but just remember that it wasn’t long ago that we didn’t use mobile phones and didn’t miss them. YOU DO NOT NEED YOUR MOBILE PHONE!!

5.Stop Using Your Credit Cards

Having a credit card in your pocket may increase the possibility that you make those needless impulse purchases. Solve the problem by cutting them up and putting them in the bin where they belong. If you can’t bare to get rid of them all, keep one and use it solely for purchases when you know you will have the cash available to pay off the balance.

Top 5 Ways To Save Money

admin — Fri, 17 Apr 2009 19:09:13 +0000

Is the global economic slowdown having an adverse effect on the money in your pocket? If you find yourself having to tighten the purse strings then its time to put some money saving strategies into action. Starting off by taking a look at the biggest expenses you have and cutting back in these areas will have a large immediate effect. There’s plenty of easy ways to save money if you do a little research.

1.Find a cheaper mortgage

Did you know that half of all home owners don’t even know what rate they are paying on their mortgage? Choosing a mortgage shouldn’t be a one off decision and just because you hunted for the best mortgage you could find when you bought your home doesn’t mean your still getting the best deal. With different deals and rates becoming available all the time it makes sense to do a little investigating, you could be saving a fortune.

2.Eliminate of credit card debt

If you are type of person how puts your money in a bank account and forgets about it you’re leaving a heap of money on the table. Searching out high interest accounts, using your tax-free allowances to their maximum and investing in the stock market are all steps you should be taking to ensure that your money is working as hard for you as possible.

3.Wait 48 hours before buying

We are all guilty of buying products we don’t need and will never use. The next time you want to buy a non-essential product try having a cooling off period by waiting a couple of days before to see if you still need it. Often you will find the urge to buy has gone.

4.Buy a smaller car

The raising cost of petrol, insurance and servicing make car ownership a stressful experience these days. Exchanging for a smaller vehicle will not only reduce long-term running costs, but you’ll have money left over form the purchase to help pay off those credit card bills.

5.Take care of your investments

Learning to Live Cheap is the Key to Wealth

admin — Fri, 17 Apr 2009 19:02:09 +0000

It have become unpopular and almost frowned upon in our current consumerist society to live within your means. Most of us feel that with the power to thoughtlessly spend our cash on whatever we please gives our lives meaning and defines our place in the world.

Living cheaply is seen as something only practiced by misers and hoarders, and those who would rather not take part in what society has to offer. In reality, learning to “live cheap” allows us to be more relaxed, confident and satisfied with our financial lives, and when our finances are in place the rest of our lives will flow easier.

Now I know that the thought of being someone who carefully watches their money will probably sound incredibly unappealing you, but learning to live cheap is the greatest single secret to securing a prosperous future. The fact that this “secret” is so simple is what keeps so many people from practicing it, we are all looking for a magical recipe which will effortlessly fill our bank accounts with cash, why else do yo think lotteries are so popular?

Thankfully, living cheaply doesn’t mean you are never allowed to socialize or that foreign holidays are a thing of the past. Living below your means simply involves spending less money each month than you take home in your paycheck. With a little effort on your part you’ll soon find that you can adjust to living on a substantial amount less than you are used to, and you won’t even notice the difference.

With the money saved each month you can start to pay off any consumer debts you have accumulated which are crippling your financial freedom. With that out of the way you will be able to start the process of building the financial nest-egg which will ensure that you have the secure and comfortable future you deserve.

There is no need to be afraid of your money situation, the tools you need to take control of your own finances are all within your grasp. The financial advisers of the world who try to scare you into believing you need them if you are to be successful financially are looking out for themselves. Just remember they need you more than you need them, and you won’t go far wrong.