I’ve always found that finances can become convoluted with too much information.
Largely due to the web, you can find so much information on the topic that it actually stops you from taking action; it happens because we feel accomplished for taking the time to learn the topic so we then go about our merry way and start on the next activity.
Let’s change that and make a commitment; take a look at these very real actions you can take.
- Check with your friends, family, or neighbors to see if you can borrow a needed item rather than immediately going to the store. You’ll find that within your circle there are many items you can borrow rather than make the big purchase.
- When you’re seeking entertainment don’t forget about your local library, which is very different from what you remember. Modern libraries are very tech-savvy; you’ll find all kinds of great sources of entertainment that aren’t books such as being able to borrow iPads, check out e-magazines, and more. Obtaining a library card takes just a few minutes and can save you thousands if you use it often.
- You should know, for the guys out there, that razors & razor blades are all a marketing gimmick. The best investment you can make would be a straight razor which do take some time to learn to use but cost pennies on the dollar versus buying your razors & razorblades from the local drug store.
- It goes without saying that the best action you can take is to make an attack plan not tomorrow but right now so you can deal with your financial woes. In this plan you need to look beyond just the bills you have this week, the plan should be about the long-term goals. Lexington Law recommends one of these essential items on the plan be your children’s’ college fund. A few minutes is all you need to convince yourself to take action (and that’s half the battle).
- Next time you’re out at the hardware store go ahead and pick up caulk which is extremely useful for sealing up all those leaky areas of your house. A quick decision to swing through that aisle can lend to saving an average of $350 each year due to air leaks around the house. You don’t even need to be handy at using the stuff; just apply it to some of the key areas (like the corners around the windows) and you’ll start saving on heating/cooling.
- Talk to the person in charge of accounting at your place of work and change your tax-withholding. For most people what your employee sets for your tax-withholding is okay but if you’re going through a major event or don’t hold a normal job you may be paying too little or too much. An adjustment in your tax-withholding can mean you’re taking in more money each month which might be needed now rather than getting that lump sum from an income tax return.
You’ll notice a common theme about many of these items:
- Most come down to taking that split second to say “yes??? when you have the motivation
- Most take less than a few minutes to implement and lead to a great amount of savings
- Most require a small shift in lifestyle (which isn’t a huge hurdle to overcome)
Almost all of it is in your mind and when you decide that today is the day then you will see that you will be saving in seconds.