Last Updated on January 12, 2019 by Road To Free Life
Being ahead financially, it’s an awesome feeling and you’re less stressed. But before you can get your life back on track you need to fix your financial goals first.
I’ve gone through my life with ups and downs when it comes to money management. But the things slowly started to change when I start making some things different.
Here it is a list of 10 tips that will help you reduce spending habits and improve your investments.
1. Track Your Spending.
You should be completely aware of where your money goes. A few years ago if you would ask me how much I’m spending in certain areas probably I couldn’t answer. I just used to go through the mont, ending up by wondering where all my money went and why I can’t save anything. But once I started tracking my spending, I was able to see exactly how I spent my money. To track your spending, you can use an app, there a lot of great apps to help you with this, or you can just use the old school notebook.
2. Cut off Useless Spending.
Once you figure out where all your money goes, it’s very easy to find the bad spending habits. After I did this, I notice that about $240 of my money goes to buying coffee every month. So, what I did was to prepare my own coffee at home and take my thermos with me. And that is just one thing, which allows me to save about $220 every month, or $2,640 every year.
3. Cut off Your Cable.
I know a lot of people who don’t want to cut their cable, just because it comes as a package with their internet service. This is just a marketing scheme made by telecommunications companies to make their customers feel like they get a better deal and not to cut their cable.
You should really consider cutting your cable, especially that there are many alternatives to watching movies on your television.
4. Automate Bill Payments
Start an automated system for your bills, retirement plan, savings, etc. In this way, you don’t have to pay late fees. And it’s very convenient. Instead of visiting serval different websites or fielding mailed invoices you can automate the bill-paying process. As a bonus, it can improve your credit score, because your payment history is one of the biggest components of your credit score.
5. Get CashBacks
Cashback is getting paid to shop. Even if this is a very strange idea that’s exactly what cashback is. But it’s not free money through. It’s usually offered as an enticement to make you spend money possibly on things you might not have bought otherwise. But if you’re planning on buying something, that it’s a fantastic way to save extra money.
6. Make a Retirement Plan.
The soonest you prepare your retirement plan, the better it will be.
For Most People, There are NO Many expenses to lower. Earning extra income would be the way to go.
The truth is that you can apply the tips above, but if you really want to change your life and have the financial freedom, which we all seek to, is to find new ways to generate extra money:
Starting a blog was one of the best things I did in my life. It allows me to make money and doing what I love to do. It’s very simple to create your blog in just a few minutes. All you have to do is to get hosting for your blog, write some blog posts and start making money. You can click here to get your hosting for as low as $3.95/month and will also get a free domain name. After you did that, you can check the article I write to see exactly what to do next.
Starting an online store it’s a very easy thing to do. It will cost you less than $100 dollars to do it and less than an hour to set your online store. All you need is to create an account on Shopify add some products and start making money. You have 14 days FREE trial and then you have to pay only $29 per month. You can check my article about how to start an online store here if you need help.
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