Mary King's eNews - Saving Your Money
Dear Potentially Wealthy Woman,
2007 has started and I am facing a few unforeseen challenges! The information held on my computer has gone! (I'm realizing the reality of how important it is to keep a back up.) It means starting again entering all names and addresses. Thankfully the newsletter is sent out through the Internet, because the database is on the web (not on my computer). If you are registered for the Rich is Better - Wealth for Women workshop being held in Hawthorn on 3rd and 4th February please re-send your information. Then I will send you the details for the workshop. We finish each day promptly at 5PM.
When I was growing up my Dad used to say, "A penny saved is a penny earned." He taught me to be careful with money and to spend it wisely. I love saving my 'pennies' into my Freedom Fund Jam Jar. Then I transfer it to an investment account and before very long I have saved enough to invest to make more money. Money attracts money, If you have money people (and banks) are willing to give you money and if you don't have much money they want to take money from you It is vital to pay yourself first so that you can accrue money that will attract more money to you. Then you will be sure to have funds should a situation of need arise.
Here are a few ideas how you can save your money.
Track your expenses for six weeks if you're serious about finding ways to save.
Keep track of every single expense you make, down to the cent if possible.
Track according to categories, such as food, utilities, mortgage or rent, entertainment and so on. You're likely to find your spending more than you thought on something. Once you know where your money is going you'll be better prepared to make spending cuts and increase savings.
Always make a list when shopping for more than one item. Research shows the more time you spend in the shop the more money you spend. Often it's impulse buying. In fact the average family spends $2,000 a year on impulse food buying.
Fruit grows on trees in people's back yards. Save money by picking your own. Anything you can get for free saves you money. If you know someone who has more fruit than they can handle, ask for some.
Flowers grow in the garden. Save money by picking your own. A single rose makes a huge difference to any room. It not only brightens the room it gladdens the heart.
Save your lunch money. If you eat out for lunch every day, just think what you can save; somewhere around $1200 a year just by bringing lunch from home; and it tastes better.
Best wishes for your financial freedom,
Mary King
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