Stop It! The True Way to Save More Money This Year
Some of the links in this post are from our sponsors. Read our disclosure to see how we make money.
I commonly get asked how to save more money. It makes sense, I run a frugality themed website so the question comes with the territory. In many instances I’ll answer the question and the person is genuinely thankful and didn’t realize they could do “X” or “Y” to save more money. I provide them a few tips of where to start and am relatively confident I was able to help.
It’s the others that make me wonder. They think there is some trick, some secret sauce to saving money – to the point they think it’s impossible for them to save money. As I think back over my years, I’m inclined not to judge them because I know there was a time I thought the same.
So, what did I do? I continued to spend money that I had no business spending. The result? I racked up more debt and I moved further away from the wealth creation needed to give birth to financial independence.
It doesn’t have to be that way. You can save more money. You can grow wealth. You can move towards financial independence. One of the main keys (ok, I know this is oversimplifying it a bit) is to stop spending money you shouldn’t be spending. It’s that simple.
This doesn’t mean you need to find your “latte factor” (a term I hate) and simply cut back on it. It means to stop spending money you shouldn’t be. Whether it be on foolish stuff that provides little to no measurable return in value or lowering costs on things you do need it means one thing – stop spending money you have no business spending.
Master that and you will be well on your way to saving more money in 2016 and in the future. If you want actionable ways to save more money this year, check out this post, this post, this post or this post. Today, we’re short and sweet.
If you want to save more money in 2016, it starts with one simple thing – stopping spending money you have no business spending.
For a bit of comic humor, enjoy the below Newhart video (I know I’m dating myself here) as he puts it much more succinctly than I do. 🙂
What is one you plan on saving more money in 2016? What’s one area you struggle to save money in? What do you tell those who say it’s impossible to save money?
John is the founder of Frugal Rules, a dad, husband and veteran of the financial services industry whose writing has been featured in Forbes, CNBC, Yahoo Finance and more.
Passionate about helping people learn from his mistakes, John shares financial tools and tips to help you enjoy the freedom that comes from living frugally. One of his favorite tools is Personal Capital , which he used to plan for retirement and keep track of his finances in less than 15 minutes each month.
Another one of John's passions is helping people save $80 per month by axing their expensive cable subscriptions and replacing them with more affordable ones, like Hulu with Live TV.