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Penny Saved!

in Mistakes, Money, Spending

This is from my early writings, interesting and very no-nonsense point of view on things. I do agree a penny saved is a penny earned.

Remember that one, I’ve said it a couple of times now.

Very Loose Money
Very Loose Money

The way to increase your take-home pay is to stop spending the money you are getting. Seems pretty simple really, here are some examples that I have harangued about:

  1. Buy 1 less coffee a day (better still drink the free crap at work, or bring your own from home). $2-$5 a day for 250 working days = $500 at least
  2. Lottery tickets, let’s say we save $10 a week another $500
  3. Eating Out, again, you can save $20 a week on that at least, another $1000 a year

Hey, that’s $2000 saved, which means, if you are somewhere near the top tax bracket living in Ottawa, that means you have “earned” about $3500 before tax money, not half bad.

Yes, it means you don’t have a nice coffee or a chance at a million dollars, and you have to eat leftovers one night, but $2000, is nothing to sneeze at either eh?

Saved money == Earned Money!

{ 2 comments }

  • Jessica07 December 13, 2010, 11:54 AM

    Now, the next trick is to remember to SAVE the savings. Whenever I make a conscious decision to save (or find a 30% off sale–something like that), I write down the amount I saved and transfer it from my checking account into my savings account right away.

    Reply

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