3 Awesome Ways to Save Money and Increase Your Net Worth
Are you struggling to get by? Do you find it difficult or challenging to get ahead financially? Are you deep in debt and feel like there is no way out? At the end of the month, do you often have more month left than you do money?
The struggle is real. 98% of Americans have at some point experienced or is currently experiencing some form of financial challenge or struggle. If you are one of those people, you are not alone and there is hope for a better future.
We’ve been there ourselves, somewhere between financial crisis and survival, always having to extinguish one money crisis after another.
Learning how to get out of this cycle and prosper financially is no small feat. You have to learn a new and better way of managing your money to break the struggle and succeed financially.
The three simple money management tips we share with you in this episode of Abundant You TV and blog post, will help you become a master of your money, increase your net worth, build your wealth and prosper financially.
It won’t be easy at first. You will get frustrated as you work to straighten out your personal finances, but if you commit to develop these changes into life-long habits, we guarantee you will live a life free of financial struggle and worry.
Money Tip #1: Save and Invest First
A common mistake that many people make is to spend their money before putting any into savings and investment accounts. This behavior often leads to the lack of money and the feeling of never having enough to get ahead financially.
You have bills that come in every month without fail and many times you pay them habitually, unconsciously and maybe even automatically. Instead of paying your bills first, commit to and make it a priority to save and invest first, then structure your spending and expenses around what is left after you’ve saved and invested. This is a habit of the rich and wealthy!
By making a simple shift in the way you think about your bills versus saving and investing first, you can make significant improvements to your financial life that will ease financial tensions and eliminate stress while accumulating money.
Decide what percentage of your income you are going to put aside every time you get paid (e.g. 10%, 15%, 20%), and then setup automatic transfers into your savings and investment accounts.
Money Tip #2: Track Your Spending
Multimillionaires and billionaires do it, so should you!
A budget should be looked upon as a way to better control your money so you can put it to work building your wealth. It will help you keep your spending in check while enabling you to put money away successfully when saving and investing first.
It will also help you identify ways to save or even untapped money you already have but may not be aware of. We found an additional $1,400 in money that we were already making that was being spent on things we didn’t need when we implemented these strategies into our financial life!
Money Tip #3: Be Disciplined and Consistent
You must be disciplined and consistent. Don’t be the person who gives up on the effort to overhaul your financial life long before you see any results. Stay the course. track your spending and save and invest first no matter what your situation is.
The shift in the way you do things is simple, but not always easy. It will take a commitment to see it through and develop these tips into life-long habits. But the reward is well worth the effort!
We’d Love To Hear From You
Comment below and let us know:
- What money saving tips and strategies do you use and how has it improved your financial life?
- Which of the money saving tips above resonated most with you?
Important: Share your thoughts and ideas directly in the comments. Remember to give as much detail as possible in your reply, it may help someone have a breakthrough they need.
Also, if you’ve got friends, colleagues or clients who feel overwhelmed, are struggling and feel like they just can’t get ahead financially, share this post. It could help them make the mental and emotional shift they need to improve their financial life
What’s Coming Up Next?
In our next episode of Abundant You TV and blog post, we’ll show you exactly where to put your money so it works for you to build your wealth on autopilot.
Thanks for watching!
Sean & Tasha