Focusing on frugality, therefore, is a better method for creating financial independence. The surplus goes directly to savings; therefore, higher surpluses equal more savings. You can attack both simultaneously. The anf of the gap matters more than the method you choose. Your home is not an investment. These are great uses for the gap. Can we pause for a moment? Nineteen years. How much money will you need?
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I have a confession: sometimes I get sick of hearing people praise frugality. If you really want to improve your financial situation, you need to do a lot more than cancel your cable and shop the sales. This type of scenario sets you up to master your financial creativity. You learn to live on less and make do with what you have. These characteristics need to follow you long after graduation. Frugality for the sake of frugality is pointless — it gets you nowhere. There are tons of ways that you can earn more money. Find something you enjoy doing and make a side business out of it. Fine-tuning your frugality skills does not mean that you have to live the college lifestyle for the rest of your life. What do you think? Earn more, save more, or do both? Alexa Mason is a freelance writer and wanna be internet entrepreneur. She is also a newly single mom to two beautiful little girls. Your email address will not be published. Leave a Reply Cancel reply Your email address will not be published.
Making a focused effort is key if saving doesn’t come naturally
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Banking, Credit, and Debt. Family and Friends. Buckle up! An emergency fund is a must.
But keep in mind that there are times when paying a bit more will help you save money. It sounds counterintuitive, but there are actually situations where spending more will save you money in the long run. Menu planning can save you a lot of money, but in order to be successful at it, you need to go grocery shopping. Not only is it time-consuming, but grocery shopping can also get expensive if you are an impulse shopper and stray from your list. In this case, you can save money if you order groceries online, essentially paying someone to grocery shop for you. Many stores offer an online shopping option, which they either delivery or you can pick up at the store. Depending on the store you may have to pay a fee for the shopping. This hack will not only save you time, the fee is probably less than what you’d spend on impulse purchases in the store. It’s a win-win.
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Some folks found it a little strange that I find delight in getting judged for having spending desires. After all, we should keep our thoughts pure in order to reach salvation. The pain of working 14 hour days in my 20s was no match for the joy of having more savings in the bank. The delight of making active income keeps me engaged in retirement for hours a day despite generating enough livable passive income to not have to work. Each comment I get about being wasteful for even thinking about spending money on a new vehicle or a watch makes me happier because it reinforces my desire to save more in order to save the children.
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