Why strive to make more until you have learned to need less?
Quite often, people looking to make ends meet tend to focus on either making more money or spending less money.
However, when one learns to split extra time between both making more money and working on living a more frugal life, it becomes much easier to quickly pay off any outstanding debt and start building ones own private business.
My primary reason for working to both make more and become more frugal are related to my want to live more freely with actual security and not the illusion that comes from being an employee.
Throughout this lens I will list various books on related topics. Your local library might even have a copy that you can check out and read at your leisure.
I also make note of various e-books I am aware of. Typically they cost some amount of money, but offer money back guarantees.
However, when one learns to split extra time between both making more money and working on living a more frugal life, it becomes much easier to quickly pay off any outstanding debt and start building ones own private business.
My primary reason for working to both make more and become more frugal are related to my want to live more freely with actual security and not the illusion that comes from being an employee.
Throughout this lens I will list various books on related topics. Your local library might even have a copy that you can check out and read at your leisure.
I also make note of various e-books I am aware of. Typically they cost some amount of money, but offer money back guarantees.
Spending less is better than making more.
Being frugal not only costs less, it lowers the taxes imposed upon you.
While most people consider spending less ( being more frugal ) to be the equivalent of making more money, such is simply not the case for most people.If you ask the folks who call themselves the I.R.S., you will find out that it saving money increases you positive cash flow much more efficiently than making money when you are a taxpayer.
In reality, for most taxpayers, saving $1.00 increases positive cash flow by the same amount as earning $1.30 (or more). This is due to the fact that as you reach higher levels of income, each new dollar becomes taxed at a higher rate. After around 32,000 dollars, twenty percent of each new dollar is taken by the government. With a modest estimate of 10% going to social security, medicare, etc., a $1.00 saving to $1.30 earning rate is probably conservative.
If you want the full numbers to see this for yourself, take a look at "How the progressive income tax promotes saving over earning".
Using a budget as a savings tool
You may know where you want to be, but where are you?
Now that it is clear exactly how much more efficient it is to save than it is to earn, you might want to sit down and figure out what your current financial status looks like and use that information to come up with a budget.-
How to create a monthly home budget absolutely free
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Whether you are creating a budget to help get debt under control, to determine when you should quit your day job, or simply to find places where you can save some money each month, you can do so without expensive help from specialists. All you reall...
Getting out of Debt
Debt can really hurt. Think about your options.
If you have debt, especially credit card debt, you should make an effort to get rid of it.-
Consolidation and Help with Credit Card, Automobile, and Mortgage Debt
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An overview of what debt is and a methodology for dealing with various types of debt. If you are having problems with debt, chances are that you can overcome them by learning about the nature of debt, learning to be more frugal, creating a plan to d...
Cutting the expense fat
Spend less each month to become self sufficient faster
If you would like to give yourself ( and/or family ) more money to play with each month and/or pay your debts off more quickly, you can do so by finding expenses to cut spending on.
Whether you simply do things to save on a particular bill each month, switch services to have a lower payment, or do away with something all together is up to you. Just try to keep in mind that the goal is to get out of debt quickly so that you have more extra money each month to play with.
Whether you simply do things to save on a particular bill each month, switch services to have a lower payment, or do away with something all together is up to you. Just try to keep in mind that the goal is to get out of debt quickly so that you have more extra money each month to play with.
Reducing necessary expenses
A variety of ideas for saving money on necessary expenses.
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How to save money on necessary expenses
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Ways to save money on land taxes, rent, electricity, heating and cooling costs, water bills, sewer bills, garbage bills, and food. You can save money on almost anything when you put your mind to it. The cost of most things which people consider to b...
Reducing unnecessary expenses
Tips, tricks, and thoughts for saving money on unnecessary expenses
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How to save money on unnecessary expenses
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Ways to be frugal when it comes to phones, cell phones, television, internet service, automobiles, insurance, and other things. More often than not, there are plenty of ways to be more frugal where conveniences are concerned, reducing the amount of...
The final savings analysis
Putting it all together
There is almost always a way to save more money, provided that you have the will to do so.
After going through the above, most people will have found quite a few ways to start shaving money off of their expense list immediately.
If you are iffy about something, keep the following in mind:
As direct taxation is still a lot higher than inflation, it still makes sense to save instead of accumulating debt, at least over the short term.
After going through the above, most people will have found quite a few ways to start shaving money off of their expense list immediately.
If you are iffy about something, keep the following in mind:
- If you are in debt, you will effectively end up with a good amount of extra spending money once you have your debt paid off.
- Every $1.00 you spend on stuff you do not truly need is an extra $1.10 to $1.30 you will have to earn back later if you are not out of debt...as well as extra interest you will end up paying
- If you increase your debt with credit card spending, you dramatically increase the amount of time you will have to work later to make up for it.
- If you are interested in getting away from employment eventually, the more you can reduce your monthly expenses, the sooner you can quit your day job.
As direct taxation is still a lot higher than inflation, it still makes sense to save instead of accumulating debt, at least over the short term.
Making money outside of employment
Add your favorite methods here!
I was going to put my own thoughts and experience on this lens, but it is already overly long.
Such being the case, I decided to add a link voting plexo here so that people can add their own links related to making more money without getting a second job or asking for a raise.
Making money online by selling via Bonanzle
With the state of the economy, more and more peopl more...0 points
http://zazzle.com/cleosclassics
Graphics hobby turns into a little spending cash o more...0 points
Additions? Feedback? Thoughts?
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- sellingnicestuff sellingnicestuff Jul 21, 2009 @ 7:32 am
- Great topic, living with means is critical these days. Finding ways to earn a little extra spare cash is possible online. Lenses like these are pivotal for information! Thanks for a great lens!
by LibertyUnchained
I am the stay at home father of two and spend my free time studying mostly law and sales related topics.
I started out simply looking for ways to mak... (more)
I started out simply looking for ways to mak... (more)
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