YOU ALREADY KNOW HOW TO SAVE MONEY
Telling you how to save money is like telling you how to lose weight. Everybody knows how to lose weight. To save money you need to spend fewer dollars than you earn. In both cases, you need to adjust your rate of consumption to your rate of work.
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| Photo by Micheile Henderson on Unsplash |
It is easier to say work more and make more money but it is a known fact that the more money you make the more money you spend. For me working outside the home to make more money isn't an option. For one it causes me a great deal of stress. I find juggling my work life and home life a job in itself always making sure all my client's needs are being looked after.
Earning more money often requires more time away from home and less time to call your own. I can see this being an option for the short term but definitely not a long term option for anyone in the house. There is a point where the quality of life and standard of living depart. Where earning more results in personal cost and lessens your quality of life.
The solution in this situation is to find a balance between earning more and saving more so that you can live the highest quality of life. When you do earn more resist the temptation to spend more. Learn to discipline yourself to save as much as you earn as possible.
For my family budget, I have always made it a point to budget less than we earn on a monthly basis. This way I always know there will be extra to pay off debt or put into saving every month. It did take a while to get used, it was not always fun but to see numbers as far as debt being paid off and my savings account worth it growing for a special trip or just some fun family adventure has been the reward.
Maybe setting a small reward or goal in mind would help you save money.
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How have you found the balance between earning more and saving more?
