Showing posts with label MONEY MANAGEMENT. Show all posts
Showing posts with label MONEY MANAGEMENT. Show all posts

Friday, August 18, 2023

MONEY LESSON - The Best Way to Save Money on a Low Income

 

- Saving money when you earn less can be tough.

- Reggie Bryant, a personal finance expert, has tips to make it easier.

- You might earn less money or live in a costly area.

- First step: Be honest with yourself and understand it won't be easy.

- Don't let negative thoughts stop you. You control your financial journey.

- No excuses; you're in charge of your situation.

- Don't play the victim; take control of your finances.

- Even if you have challenges like debt or expenses, you can still improve.

- Sometimes you need to sacrifice to reach your goals.

- Ideas to save money: Sell things, get extra jobs, reduce expenses.

- Balancing life isn't possible if you're financially struggling.

- You might have to make tough choices like sharing space or working more.

- Start small, save little by little. Every dollar matters.

- Don't feel ashamed; focus on your results and good habits.

- Saving money and increasing income are key habits to develop.

- Live frugally, but it's about smart money choices, not just being cheap.

- We're in a time of many opportunities to make money.

- There's lots of free information available to learn how to make more money.

- Invest time in learning and improving your skills for financial growth.

 

 

 Is there a tip you have used thats not listed? Please write it in the comments section below. Share your knowledge!

 

Monday, July 31, 2023

MONEY LESSON - stop budgeting

 

 

The person talking used to be very strict with money and had a tight budget, but now they have a better method.
- They learned five principles that helped them maintain their finances without risking everything.
- The first principle is to never spend more money than you make.
- They suggest limiting spending to a certain percentage of your income: average people should not spend more than 90%, better than average people 70%, and those wanting to be financially free should spend less than 50%.
- They use a system to manage their finances, relying on automatic payments and separate debit cards for different expenses to avoid overspending.
- Endurance and focus are crucial habits for financial success.
- It's essential to have clear goals and stay focused on them while also enjoying life along the way.
- The person admits they sometimes deviate from their plan but try to stay on track with their overall financial goals.





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