Savings Archives - Page 4 of 5

Financial Fitness

How can you develop financial fitness? Well it is simple by working every dollar that crosses your hands and taking the time to see how the money plan you have now will give you what you want later. Real financial fitness can take place, but the trick is you have to want to work those dollars. Many people love working out physically, and on the flip side give up financially. Most of the readers of this blog are in the 25-35 age range, and that means you guys are abundantly blessed with physical energy. Now if you could just direct some of that energy to daily financial fitness workouts, life can be a nice walk in the park.

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How to Control the Uncontrollable?

Prepare Now for the Uncontrollable Events

When I say this phrase I want you to really grasp that it is an oxymoron, because uncontrollable things are out of our hands. But you must see that the way you prepare yourself in many aspects of life will help you eventually when the uncontrollable events take place. By being just a little bit more organized you can overcome those unfortunate aspects of life. What are some of the uncontrollable events I talk about?

Uncontrollable Things:

Medical Emergencies

Death

Time

Other People

Natural Disasters

Governmental Policies

Inflation

Politics

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Time to Flex the Frugality Muscle

What is my purpose for this website? To get you to enhance your money saving strategies by giving you savings tips, behavioral advice, facts about investing, and how to take advantage of the time right now to begin to save. I recently read an article in Bloomberg BusinessWeek magazine, which stated how the people in China on average are very frugal. Oh this topic has been brought up before and records show that over the past few decades Asian people tend to save more than people here in the U.S. What I wanted to show you today is about how this information about frugality delves deeper than what is on the surface about frugality. The title of the piece is called “The trouble with Chinese Frugality”, and I have a real concern as to why it is stated as a negative instead of a positive for Chinese people. Then it struck me as I began reading, that this article is based on spurring the economy by consumers spending more and that is why the title is referenced in that matter. They want China to be like the United States where 70% of the GDP is fueled by consumer spending. Consumer spending in China contributes only about 30-40% of GDP, so why is the reporter trying to convince us that our economy is better than there economy. I do not know which system is best, but signs are clear that expecting your citizens to spend in order to fuel revenue for the country might not be good.

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Spend Less than you Earn

Send Less than you Earn — My two lucky Coins

Is this mantra really that hard to grasp? Why do I see examples of individuals living frivolously with their spending? Let me tell you a secret, if you do not follow the spend less than you earn lifestyle you will not succeed with money. I see people spending and they are smiling when they spend half of their paychecks on a thing aka product. How can anybody be happy spending that much money, when I spend that much it is with saved up money and I am still not smiling. Why don’t I smile when I spend, because I know the true value of my dollars, and I know the possibilities of what it can do? The only time I smile when I spend upwards of $500 bucks is when I am booking a vacation, because I can visualize the joy the trip will bring to my family. Today I want to share with you a few quotes and posts on the, spend less than your earn topic. (Hopefully you can see the value of it)

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How Much Savings is Enough

This question is thought of and asked thousands of times from individuals to financial media outlets. How much savings is enough for me to retire? Well I have a simple solution for all of you right here on this great website. The idea for this particular post came to me when I was having a random discussion with a co-worker about food. A light bulb came on in my head and I thought I can solve this simple question easily. The answer is very personal to you because each person’s financial portfolio is different. What makes sense to me might not correlate with your investing strategy, because of this investing tends to be viewed as complicated. But do not fret as there are no wrong answers here today.

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The Savings Quotes

What does it mean to be able to save consistently every month? It means you are effectively earning more than you spend. It means you are watching your dollars. It means you are mature enough not to spend every last penny, then blame it on others, a low paying job, or the government. I am focused on quotes about saving money this week, as you can clearly see from the title. The Savings quotes will hopefully give you extra motivation to stash some cash immediately.

Let me know if you can relate a bit with the Quotes below. They all might represent something within you that you already do or maybe would like to begin to implement in your financial life.

The Savings Quotes:
Hoarding is viewed as a negative thing, but to hoard money, now that is genius. – Rich Uncle EL
Savings should be placed above anything else, even those pesky things called bills. – Rich Uncle EL
When you protect your cash flow, than life is a piece of cake. – Rich Uncle EL
If you build savings year after year, then freedom is bound to hit your doorstep – Rich Uncle EL

Hoarding is viewed as a crazy bad condition in a reality show because when you stack a few thousand newspapers in your living room you are going against the norm. That is a psychological definition of scarcity as thus folks feel that they will never have enough. If that is the case then something truly is off because you are filling up your entire house with junk.

On the flip side hoarding money is good because you are exercising your savings muscle. Doing so will eventually assist you in the future. What I am referring to in the quote is someone looking to build a nest egg up from a smaller level of savings. Not a multimillionaire who cant seem to share or spend his money hoard. Their is a big difference in someone looking to secure financial freedom and someone who has millions already and is afraid to spend out of fear.

Help me find someone who has regretted stashing a million dollars for freedom of the 9 to 5. I still have yet to find such a person because a regret like that doesn’t exist. So keep hoarding dollars my friends, but never forget to share it on occasion on your wants, with friends and family, and with charities.

The other three quotes are phrases you probably read many times before and I hope you are taking the basic money management advice seriously. Nothing is far out of reach when you realize that your actions dictate where your money goes. All the calculations, formulas, math, and equations in the world cannot help you be better with money. A simple look in the mirror and getting emotions in check is all you need.

The Best Advice on How to Save Money Right Now:

Saving Money Tactics

Ten tips to save Dollars – BankRate

Words were invented to communicate how you feel so please leave feedback below.

Comment if you agree or disagree with the savings quotes above.

Rich Uncle EL

The Cycle of Expenses

2011 Oxygen Sensor and Water Pump for Camry

2011 Tires for the Old Camry

2012 New Laptop

2012 New Mattress

2012 Brakes for Mini-Van

2013 Cell Phones for a new Provider

2013 Tires for the Mini Van

2013 What will the next thing be?

The expenses cycle never ends as many things need replacing and others are needed to save some dollars. The list above is a small breakdown of the things I needed to replace in the past 2 years that I can remember. Whenever I feel positive about saving some extra dough something almost always comes up. What is wrong with this picture? What can be done to eliminate the dreaded cycle with expenses affecting our lives? Maybe it helps to have a plan in place to cover the future needs and wants. As soon as I buy the tires for the minivan, should I begin to save for the next set of new tires in 2 years or is that considered going overboard. I will take the new purchase price of about $400 and divide that by 24 months, which gives me a monthly amount of about 17 dollars.

Should I have a replacement fund for everything in my life or is that going overboard as well? What if there isn’t enough money to cover all the replacement funds, on top of retirement funds, emergency funds, and college funds. What would somebody do then? Increase your income is my only answer.

It may seem like a lot of whining but there is something to ponder behind the madness going on in my head. If I eliminated a car and found a job where I can walk to work I will eliminate a lot of unnecessary expenses. I will also save on gas and insurance costs, but my time will take a major hit as commuting by foot takes added time. Maybe I can invest in a cool road bike to slash my walking commute by a third. Let me not get ahead of myself as I first I need to find a job in my town. Ha Ha

Sacrifice now for a better tomorrow is a way of life that needs to be taken seriously by people. A little here and there will not do much to improve your situation, but if you consistently apply this mentality you will win big later. Keep pouring on the focus to better all situations and you will be a part of the secret society, the one I just made up in my mind. LoL

How do you sacrifice to win big later? How do you handle the cycle of expenses?

I like to think optimistically in this life for the most part, but when things like the list above happen to strike unexpectedly I tend to say what in the F— is going on, out loud from time to time.

Comment if you have a good luck or bad luck in recent times with random unexpected expenses.

Rich Uncle EL

Consumer Reports Best Value Cars

Consumer Reports Best Value cars

Hey it’s a new year and I wanted to share with all of you a great article I found on the CNN money website. It is the consumer reports best value cars for 2012 and further leading into 2013. How many people were surveyed for this test, 1.2 million people aka subscribers. Thats a lot of info to dive into and dissect. Well check it out below:

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