Written by Robert Thompson Jr. | 1/11/21
Being wealthy is not something that can happen overnight. Certain habits and decisions are needed for that to be fulfilled. Making small changes everyday can make a MASSIVE difference in your life. With that being said here are the top 15 tips that will save you a fortune.
15. Never Pay Full Price
If the price of a product cannot fit in your budget then there is no reason in buying it. However, if you can find coupons and discounts on certain products, then it is ok. Not buying the whole price on a product will help your budget a lot. Save any gift cards you earn and use them to buy gifts at a later date. You can also get free gift cards if you know how.
14. Put Investing In Your Budget
Investing can generate lots of money, on the other hand, this is not an overnight thing. Therefore, by putting money in stocks such as Bitcoin (BTC), Apple (AAPL), Advanced Micro Devices (AMD) and letting it sit you could earn thousands or even more the longer you keep it in there.
13. Always Pay Yourself First
You should always put money into your investment or savings account before thinking of buying something. Paying yourself first is important in order to generate wealth. Therefore, making sure you get paid before something is bought makes sure you are earning money.
12. Pay Off Debt And Stay Debt Free
You need to earn money but it won’t help at all if you have debt piling up each and every day. You can eliminate your debts using the snowball method. First, pay off your smallest debt then do your second smallest and keep going up to bigger debts until all your debts are paid off. Once you have your debts all paid off make sure to stay debt-free.
11. Buy A Smaller Home
Just because you see your family or friends have big and expensive houses does not mean you need one too. A place to live is one of the biggest purchases in your lifetime and is sometimes not even an asset. A small modern home that fits you and your family perfectly is good enough.
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10. Use Everything Until The Wheels Fall Off
If you use everything until the last drop you will start saving tons of money. For example, do not buy another phone when your old one is working properly, or throw away your TV because there is a new one you could buy. The same goes for cars, machines, clothing, tools, appliances, and so on.
9. Use Your Handy Man Skills
Knowing how to fix things can help you out on certain occasions, especially with cars or other devices. Learning how to replace your own brakes and complete your oil changes could save you not tens but hundreds of dollars.
8. Learn How To Entertain Yourself At Home
Leaving your house for entertainment is a sign that you will spend money. Try having your own instead of going to an arcade, buy games you can play at home. Instead of going to the theater to watch a movie, watch movies at your own house. It may not have the same effect but it saves you tons of money.
7. Don’t Eat Out
Eating at fancy restaurants food might be good but not for your budget. You can make the same food restaurants make at your home kitchen. There are recipes online that you can follow and we post recipes often so don’t forget to check them out.
6. Have An Emergency Fund
Everyone needs to have an emergency fund. An emergency fund is a set amount of money put away for unexpected expenses such as car repairs and surgeries. This is used so you don’t need to think “where is the money coming from”.
5. Get A Credit Card With Great Rewards
When you have a credit card with rewards you get a certain type of rewards such as travel rewards, cashback rewards, and many more. But you have to find one that fits you. For example, if you like to travel you should get a travel rewards card, if you want cash back, get a cashback rewards card. You can find your match at CreditCards.com.
4. Buy A Reliable Car
You don’t need those expensive and “nice-looking” cars. Buying an affordable and reliable car is the best for you and your finances. Kelly Blue book and Edmunds are some sites where you can research, compare, and find the value of cars.
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3. Never Gamble (Invest Instead)
Even if gambling is fun, it’s very risky. Did you know the average American spends 300 dollars a year playing the lotto? Or even more? That’s INSANE, people said you have a better chance of getting hit by lightning twice in the same day. You should invest instead. Investing has less risk with more profit.
2. Avoid buying unnecessary things
I know you like to have “stuff” but buying unnecessary things will waste a lot of money. Before buying something ask yourself these questions.
Can I Really Afford It?
What Will I Do With It?
How Often Will I Use It?
Do I Really Even Want It?
Can I Borrow It?
1. Water Purification and Concentrated soaps.
Purified water has many saving benefits as well as concentrated soaps. Water purification systems like charcoal filters remove chlorine, a common chemical added to the public water supply as a disinfectant. Several studies have linked chlorinated water to an increased risk of certain cancers, including colorectal cancer. Another benefit of water purification is that it removes unpleasant tastes associated with chemical treatments, organic matter, or metal plumbing. leaving you with fresh, pure-tasting drinking water. If you want to get the best solutions for your home at the best price contact us at info@Thompsonempire.com and make sure you let us know if you have well or city water. Below is a picture of our Water system.
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