10+ Methods That Helped People Make a Fortune


Hey Bright Sider, do you ever feel like there’s
too much “month” left at the end of your paycheck? Where does it all go anyway? Well, if your money is having a hard time
finding its way into your savings account, then looks like you should… #1. Tell your money where to go. It’s going somewhere, so you might as well
decide where that is. Whether you use a spreadsheet like Excel or
jot it down by hand, budgeting is essential. Make a list of all of your expenses in one
column and how much you earn in another. Sort your expenses into categories (rent/utilities,
groceries/personal expenses, and fun extra stuff), and make cuts where you can. Most banks these days have an app with budgeting
tips and categorized records of your purchases – that’ll help too! #2. Track your money daily. It’s great if you make a monthly budget
– it’s not great if you only look at it once a month. Set aside a specific time each day to check
your transactions and see if you’re on track. It doesn’t have to be an inconveniently
long time – 60 seconds is enough. You can call it your Midday Money Minute! #3. Eat at home. The average American spends $230 a month just
on eating out! Fast food may seem cheap, but cooking at home
is way more wallet-friendly. The internet is full of recipes for all kinds
of tastes and diets: gluten-free, vegan, keto – the list goes on and on! Plan your meals and make grocery lists based
on needed ingredients. When you go grocery shopping, stick to your
list, and don’t make unnecessary purchases. Packing a lunch with the leftovers of last
night’s dinner will also encourage you to kindly decline when your co-workers ask, “Wanna
get take-out?” #4. Stay up with sales. Whether it’s groceries or clothing, the
Sunday paper advertises when there’s a good sale going on. Purchase more expensive foods like meat at
a discounted price, and plan your menu around that. Buy in bulk when you can. Don’t eat meat? Fruit and veggies go on sale at different
times of the year too! And don’t be shy about cutting coupons if
you’re looking to save – that’s what they’re for anyway! #5. Go thrifting. If your brain is already on Sales Mode, then
kick the savings up by hitting some thrift stores at the right time. Look for sales at popular thrift shops on
their site or posted up in their stores. Holidays (and the day after) are also ideal
for discounts. If you’re not ready to buy second-hand,
off-price department stores like Marshall’s sell new name-brand clothing with huge mark-downs. I’d recommend getting items that last forever,
such as denim jeans, jackets, and shorts! #6. …But always shop alone. I know, sounds boring! But think of it this way: have you ever gone
shopping with a friend, and they say, “Oh, that looks great on you! You should get it.” Although, you really aren’t a huge fan of
how those jeans make your tush look, and you probably would’ve talked yourself out of
getting them had you been alone. But you feel good about the compliment, so
in the cart they go! #7. Spend your cash and keep the change. Instead of going to the store with your debit
card in hand, try withdrawing cash in the exact amount you budgeted to spend. This will keep you in check if you’re tempted
to make an impulse purchase. If you don’t have the cash on hand for certain
products, they don’t go home with you. Likewise, if you get change back, start putting
it in a jar. Setting aside loose change quickly adds up. When the jar is full, you can decide what
to do with it – either save or spend it on a special project! #8. Cut the cable. The average person spends about $85 a month
on cable. Satellite owners spend a bit more, topping
off at $100 per month. This could be part of the reason why streaming
services like Netflix (starting at $9 monthly) have skyrocketed. Now similar sites like the 6-bucks-a-month
Hulu are adding competition and driving prices even lower! Other perks include being able to watch episodes
from your favorite shows on demand. If you’re in college, many of these sites
even have special discounts for you! #9. Never buy new. You should go second-hand with your car too. A brand-new vehicle loses 10% of its value
during the first month of ownership, beginning immediately after you drive it off the lot. On average, it’ll continue to decrease between
15-20% annually. Let’s say you purchase a new car for $30,000. After the first month, its value is down to
$27,000. After the first year, it’s sitting at $24,000. In short, most people end up owing more than
what the vehicle is actually worth. Buying a used car is a nice way to prevent
that, even when it’s on the newer end of used! #10. Be smart with credit cards. If you have to use a credit card, get one
that pays you. Look for a card that offers cash back rewards. For example, some offer the following deal:
for every $100 you spend, you get $1 back. Work towards paying off the balance each month
and maintain that 1% back on every purchase. As long as you pay off what you spend every
month, you won’t accumulate any interest whatsoever. Instead of losing money, you actually get
money…as long as you’re responsible! #11. Have an emergency savings fund. With all the extra money you’ll soon be
saving, you can put the surplus towards an emergency savings fund. The minimum amount for this account should
be $1,000. This works as a safety net when unplanned
things happen. Instead of swiftly swiping a credit card when
your car breaks down and accumulating more debt, dip into your emergency savings fund. That’s what it’s there for. When the crisis is behind you, rinse and repeat,
working your way back up to that $1,000 base amount. #12. Pay off debt. According to financial guru Dave Ramsey, once
you have an emergency savings fund, you can begin paying off debt. The “debt snowball” refers to paying off
your smallest debt first. For example, if you have a student loan in
the amount of $6,000 and a remaining credit card balance of $12,000, start by knocking
out the student loan debt. Once that’s done (say you were contributing
$300 a month towards paying it off), you can roll that 300 towards your remaining credit
balance. This helps you see progress faster, which
then motivates you even more! #13. Give monthly towards your holiday savings. Don’t let December and all the holiday parties
sneak up on you! Decide how much you want to spend per person
at the beginning of the year. Let’s say there are 4 people in your family,
and you’d like to get them each a gift valued at $50 or less. In order to have $200 to spend, you only need
to save about $16 a month. You can do that! If your list is longer or you want to start
shopping sooner, adjust accordingly. You can do the same with summer vacations. #14. Set specific savings goals. Going off those last two tips, did you notice
I used specific examples with hard numbers? That’s because you’ll never save money
if your goal is to simply “save money”. You need an exact step-by-step plan to work
towards. You have X amount of student debt, you want
to pay it off by Y time, so you’ll set aside Z dollars to achieve that goal. There’s no room left for uncertainty or
excuses, only action! #15. Accept hand-me-downs. There’s no greater bargain than receiving
a whole new wardrobe for free, without having to step foot in a retail store! If certain hand-me-downs don’t work for
you, simply pass them along. Those formerly white t-shirts? Yeah, you don’t have to keep those, but
thanks for offering! #16. Live with your parents. Before you gasp, hear me out. You’d be in good company, as roughly 23%
of young adults currently live at home with their parents. Many of them are moving back in after college. Remember the whole thing about paying off
debt? Living with your folks can also help you save
money for the future, whatever your plans might be. Owning your own home, traveling and seeing
the world, it’s up to you (and your parents)! #17. Take advantage of your local library. And other free services! A receipt from the Wichita Public Library
recently went viral, showing a total savings of $7,078.76 for a family of 6 that visited
the library weekly. The library kept track from the moment they
started checking out books. Many other libraries use the same system,
thus encouraging more people to visit. Museums and zoos typically have community
days or nights, when their entrances are FREE. Check their social media pages for those days
and details. Pretty cool huh? Hey, if you learned something new today, then
give the video a like and share it with a friend! And here are some other videos I think you’ll
enjoy. Just click to the left or right, and stay
on the Bright Side of life!

Leave a Reply

Your email address will not be published. Required fields are marked *