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Thursday, February 6, 2014

An Easy way to Save Some Serious Money

I get a lot of questions about how to make more money and how to save more money.  Recently someone shared with me the below formula.  I like this one because it is simple, easy to follow, can be increased for more aggressive savers, and is doable and achievable by everyone.

Obviously I am a few weeks behind the start date, but it still does not mean you can't start now and still have a  hefty chunk of change saved by the end of the year.  

As you are disciplining yourself to put away the money I encourage you to get in the habit of making it a daily practice.  This way when you get to the week that you are saving $35, rather than trying to come up with the entire $35 in one day, set aside $5 a day.  Also, plan ahead.  If you foresee it being more challenging saving the $50 for a week invest a little more during the smaller weeks… put away $4 instead of 2 and $8 instead of 4, etc…

I hope this strategy proves to be a helpful and profitable one for you.

Carpe Diem,

Jesse

P.S.

I'll have another blog up soon as I have a bunch of great pictures I am excited to share with you all :)


4 comments:

  1. This aspect of life is quite simple to me.
    Well, I have no problems with money. Not because I have a lot but because I know how to save.

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  2. Intresting perspective, but for people who have a tendency of puting away and then as soon as in trouble and have acces to them they spent it. so back to start. If you manage to put away someting do not keep it in house at your easy reach (not exactly piggy box). How I do it if may help someone at every paycheck not daily I put away in bank deposit a fix amount depends from 5 10 20 50 and they generate interest ..they grow beeing in a bank account that you can not use until due term that can be automaticaly renewed every time. May not be much for some but at least the interest covers bank fees and comisions and in 1 year you get someting.

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  3. Hi there - I am enjoying your blog immensely. Thank you for your well thought out and insightful posts (and the lovely photos). I have read a couple of your posts (including this one) and they remind me of a book given to me by my mother in law - http://www.amazon.com/The-Slight-Edge-Revised-Edition/dp/193594486X. Warm regards from Macau!

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    ReplyDelete