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 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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