You need to give up on a number of things:
1.Give up cigarettes.
2.Give up alcohol.
3.Give up gambling.
4.Give up lotto/powerball/prize bond investment
5.Give up living at luxurious apartments. Go minimalistic
6.Give up buying until important.
7.Give up eating from outside, unless special occasion.
Then, there are the DON’Ts:
1.Don’t get a credit card (if you do not know how to use it). A lot of people did not agree with this point, and I NOW understand why. Credit card drowned me in debt, but not because of my spending habits. I lost my job! It happened with me, and I am still repaying the debt! But on the other hand, if you know that you have a billing cycle where by a specific date and time you get funds, then use a credit card, earn cash back or points and redeem those for future use. Do not however, rely on minimum payments unless absolutely necessary. If used the right way, credit card can be the most powerful leverage tool you have, getting credit FREE of cost.
2.Don’t take a personal loan from any financial institution or payday lenders. They are THERE to make MONEY off of your financial needs.
3.Don’t buy new clothes every season. Ask yourself “Are my clothes worn out?” If they are, go ahead and buy new ones. If not, why not save some money?
4.Don’t change your smartphone everytime! Trust me, these brands you see are there to rip you off your hard earned money. Ask yourself, do you really need a $800 Samsung or a $999 (which is $1,200) iPhone X? I still know wealthy people using iPhone 5! I use a Motorola Droid Turbo 2! Cost me $150 to buy and does the same as any other high-end smartphone! Your time is far more important to do productive things, instead of standing in long queues (gladly, they aren’t around anymore these days) for the next iPhone!
5.Walk, Jog, Exercise, Run 30 minutes to 1 hour every day. Your body will thank you in terms of lesser doctor visits.
6.Pay your bills on time and avoid paying late charges.
7.When you head out the door, turn off all lights, TVs, ACs and electronic items.
8.Netflix, bundled with a high-end data plan is MORE convenient and economical than cable TV.
9.If you are abroad, especially in a country that DOES NOT offer nationality, consider it forbidden to take out any money, credit cards, or even buying luxurious sports cars and big houses on lease. Trust me, when you get laid off your job, the first thing the employer does is inform your bank, which in turn freezes your account, and puts your name on the Exit-Control List of the country, banning you from flying out! There you go! You are in a trouble for life!
10.Want to lose weight? Wake up early in the morning, and get out for a walk, jog, run, yoga session. Your body will thank you for it. Stop paying for expensive gym memberships. The oxygen you get in the morning is the best gift you can give to your body.
11.Last, but not the least, always ask yourself this question before buying anything: “Do I need it? What if I don’t buy this one, and save this money for any other need?”
God Bless!
EmoticonEmoticon