Start keeping an eye on the minor expenses that add up quickly to avoid the risks of overspending, then go on to keeping an eye on the larger expenses. Consider your options carefully before adding any more debt to your list of obligations, and remember that just because you can make a payment doesn't mean you can afford the item. Prioritize saving a portion of your income each month and taking the time to create a solid financial plan.
Sometimes large sums of money are lost one dollar at a time. When you order that pay-per-view movie, go out to dinner, or buy that double-mocha coffee, it might not seem like a huge issue, but everything adds up.
Consider whether the things you continue to pay for each month and year after year are indeed necessities. You may be forced to make ongoing payments for things like cable television, music services, or upscale gym memberships while remaining without any possessions. Leaner living can go a long way toward growing your savings and protecting yourself from financial hardship when money is tight or you simply wish to save more.
People find themselves in a hazardous situation where they need every dollar they make and one missed payment would be terrible as a result of their cumulative expenditures. You do not want to be in this situation when an economic downturn occurs. You'll have very few choices if this occurs.
What happens right now will affect your financial future. Spending two hours a week on finances is impossible for most people, who instead spend countless hours watching TV or reading through social media. Knowing your destination is necessary. Establish time as a top priority for arranging your budget.
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I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos, precious metals, and money share my personal opinion, experiences, and general information on cryptos, precious metals, and money.Thank you for stopping by to view this article.
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It's a good practice to have a leaner lifestyle and build up your financial health than floating on a inflationary lifestyle. An inflationary lifestyle is hard to maintain and it's always on the precipice. Mine got busted by a financial crisis, avoided it ever since.
You can only learn from your mistakes, @young-kedar.
It is best to save while you can!
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One principle that I have applied which has helped me is because not all wants I should attend to
Yes, wise saying,. You are not required to satisfy all of your desires!
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I love the idea you shared very nice and thanks for sharing.
Take it to heart, @emeka4.
There's nothing wrong with saving!
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Yeah you are absolutely right. No one buy his at single night. First you can create plan how to save money for your home. Everyone good things takes time. One day your hardworking gives you success. In Pakistan daily gold break his all time price. Thanks for sharing this valuable article.
Yes, if you plan and save, your hard work will pay off someday, and you won't be sorry.
Thank you, @djbravo!
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Even if you think you're doing the right thing by practicing delayed gratification, there is always some other expense which could be eliminated (or at least reduced):
Cutting out any of those, or some of those, or all of those, would give me more money for cryptocurrency or precious metals or a rainy day fund. It wasn't a concern in 2012 or 2016, but it could turn out to loom large in 2024 or 2028.
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Indeed, @magnacarta!
Here's to 2024!!!
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Like what happens when you forget to pay your credit card bill by the deadline? A whole bunch of things happen to punish you. With an Inflationary economy and looming layoffs many are depending on their credit cards and line of credit to get by, but miss a payment...ouch!
Always, with love 🤗🌺❤️
But you won't miss a payment, sis, because you won't get into debt unless you can pay it off.
Hugs and kisses, sis🤗
!LADY 🥰❤️🤙
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Ms. Saver @silversaver888
In the Wizard of Oz Book Dorothy had SILVER Slippers !
In the 1939 film, The Wizard of Oz, Dorothy's shoes are red. But in Frank's 1900 novella, her shoes are silver. And they are silver, economic historians have suggested, because they represent half of the bi-metal standard, and that when they walk on the road, The Yellow Brick Road, to Oz, they unify silver and gold.
What do Dorothy's silver shoes represent?
In the movie, the slippers represent the little guy's ability to triumph over powerful forces. As the item that she – a simple teenage farm girl from Kansas – steals from the dictatorial Wicked Witch and ultimately uses to liberate the oppressed people of Oz, they're nothing less than a symbol of revolution.
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Great point! I learned this one way back when I was buying coffee and Starbucks before work almost every day. One day I realized I was spending over $100 a month on coffee! I quickly started brewing my own coffee at home, it's much less expensive and I was able to invest the extra $100. Keep up the great advice!
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Hahaha, you have the right COMMON SENSE! Everything is common sense don't you think?
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This is what my grandmother used to tell me when I was little. Money goes to small things.
At my job I see people who spend between 10% and 20% of their daily salary in the vending machine, it's not a joke, it's true.
It is crazy! Maybe they can afford it! But do they need it?
!LADY 🥰🤙
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Thanks, again, for the money saving advice, SILVER SAVER - @silversaver888. I experienced something along those lines, at the Local Coin Shop, with Generics, Scratch & Dent Silver Bullion Coins, etc. With the price being $29.50(USD), I'm passing on most, and drawing the line at $30, aiming at only the best of the best, or most interesting.
Yes, I hear you, @cve3!
!PIZZA
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"Exactly reit Lass! Ye've got tae rin a tight ship!" 😉 -Keptin
Yes, let us run a tight ship Keptin!
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Good advice
Thanks, @mxm0unite.
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Lots of forecasts that this recession is going to be a really bad one
It's best to be prepared for such an event!
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Someone once said " pay yourself first then live off the rest'.....
Prioritizing savings ...😀
Many small savings @silversaver888.... will add up into big savings!!
That is very true, @silvertop! Pay yourself first!
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You must be killin' it out here!
@silversaver888 just slapped you with 1.000 PIMP, @silvertop.
You earned 1.000 PIMP for the strong hand.
They're getting a workout and slapped 1/1 possible people today.
Read about some PIMP Shit or Look for the PIMP District
Absolutely my friend, hope you're having a wonderful week @silversaver888 take care!😀
Indeed, I remember my godfather when he told me when I have my job that income - savings = expenses should be the formula. And this article from you could be of great help to everybody. Setting aside the wants from the needs. Thanks for sharing this one. God bless.
Your godfather is wise. You don't need credit to live in this world, except for a major purchase like your home.
Have a good day, @amorey1. I'm glad you found me!
!LADY 🥰❤️🤙
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I am so blessed to have him even at my young age he keeps me reminding such. Now that I have my own family it's so helpful.
Yeah, so true. Talking about the house takes a lot of money but it's okay. It's necessary. Thank God I've found you who's one way or another could be of great help to me as well. God bless.
Yes, @amoreyl!!! You and I will encourage each other and help each other go through life, I am glad I found you too when you joined us in Ladies of Hive.
God Bless!
!LADY 😍🤙🌺
Indeed, you are God's instrument for me to learn more about the reality in life. And how it affects if we don't have planning before taking a decision. More so in financial matters. God bless.
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Thank you so much @silversaver888 and @ladytoken .
There are lots of ways to whittle those expenses down. For example, if one needs that coffee, consider making it yourself and seriously cut the cost! Movie addict? Consider borrowing a DVD from the local library! Avid book reader? Again, the library is a way to help.
Those are just a few potential 'luxuries' of everyday living that can dramatically save you money, and then, take those savings and put them away; whether in cash, precious metals or crypto. The bottom line is exactly what you are saying: take the time to budget things and find cash and savings you might not have otherwise known of. Also, look at whether you really need/want that item that you might would go into debt for. Then, save to pay cash for it!
Thank you for sharing sis! Love ya much!🤗😘💞🌸 !LADY
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Exactly, sis!
You are so wise in the ways of savings.
Hugs and kisses 🥰
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🤗😘💞🌸🎄 You are sweet!!!
You received an upvote of 100% from Precious the Silver Mermaid!
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You have created a Precious Gem!
Thanks @ssg-community!
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good point, unfortunately a lot of people do not manage finances well
Yes, it's so sad... all that money going around. Well, it is their money, they can do whatever they want with it, hehehe.
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I love the types of coins you share in your post.
Thank you @careersecure!
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Ms. Saver @silversaver888
She Likes Silver Eagles......
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