Source: Be financially free – MORTEN STRANGE
– 13 WAYS TO SPEND LESS –
There are 3 things you need to do to gain financial freedom and retire early. You need to:
- Make some money
- Spend less than you make
- Save the rest and make it grow
“It’s not how much money you make, but how much money you keep.” – ROBERT KIYOSAKI
- Shop wisely – Take advantage of special offers, but only for items that can be stored and which you would need to buy in the future anyway.
- Sometimes pay more now to save later – Cheap is not always better; Sometimes quality food or an organic alternative is better for you, so by spending more now you save on hospital bills later!
- Buy used – The old mantra: Reuse.
- Buy yesteryear’s technology – Wait till the older and simpler version is put up for stock clearance sale.
- Attend free events – Why pay for something you can get for free?
- Get knowledge and skills and entertainment for free – Knowledge is available online for free, continuously updated.
- Don’t pay to exercise – It is silly to pay for a gym membership when you can get the same result for absolutely free. Your condo or your housing estate surely has an exercise ground; otherwise find one in a nearby park.
- Stay healthy in general – Life is too precious. Don’t shoot yourself in the foot by smoking or over-eating or over-drinking.
- Don’t buy insurance – When you buy insurance you are in effect gambling against yourself – why would you do that? Insurance is zero-sum.
- Don’t gamble – The great danger is becoming addicted to gambling. When you’re addicted to something, you become its slave. Addiction is the opposite of freedom.
- Do it yourself – It can be fun to do things for yourself.
- Turn off your water heater – Cold showers are better for you as they build up your body’s resistance and immunity system, as well as for your finances and the environment.
- Drive slowly – Not only do I save money (i.e. no speeding tickers, less likely to get into an accident, etc), but I feel a lot less stressed and frustrated. Try it for yourself one day.
We make a living by what we get (donation)
When you give (money), you are abundance =)