Are you spending a lot of money buying the $5 drinks at your favorite coffeehouse? Save money by trying regular coffee with cream and sugar. Many of the coffeehouses have other spices that you can use to make your own special drinks. So instead of spending $5 for the mixed drink, you can spend $1.50 instead.
You think Amazon.com has the best price on books? Not always! From the hundreds of books that I have bought, I always check the AddAll.com site, and many times there are other stores that offer the books at a much lower price than Amazon.com. The URL is used.addall.com. Check it out before buying your next book.
New research is out show how social influences affect people. Your friends and social circle has a lot of influence over you. This could also affect how you spend your money. If your friends are money conscious you will want to fit in. If they are not, you will not be checked in your spending.
Always ask for the student discount. An easy way to do this is ask for the “student version” of whatever you buy. You’d be surprised at how many business have special deal for students but only if you ask for them. Saving at restaurants, movie theaters, travel and in other business. All you have to do is ask. Now repeat after me “Do you have a student version of that?”. Good!
Do you have any goals for your financial life? or are you just letting things happen as they come along. Most people that never go above average have no goals. Decide today where you want to be in ten years, twenty years and at the end of your life.
“My employer is matching up to 5% of my salary in the company 401K, should I take advantage of it?” YES! This is free money. On top of giving you money, they are giving you another reason to start or increase your investments. The only thing is that you shouldn’t put all of the money into company stock (i.e. Enron).
Most companies and money institutions that loan out money now check your credit score. You should be checking your score at least monthly. This will prevent any nasty surprises that might occur in the future when you are ready to make a big purchase. Set up a way to check your credit score at least once a month.
When buying any product or service, always ask what is the real cost? There is always a stated price and a hidden price. The hidden prices are monthly maintenance and up-keeping fees, taxes, service fees, upgrade fees and other fees. Know the full prices before making any purchase.
Many people that grow up in a certain place assume that that is the best place for them. The city or region you live in will have big impact on your money and how much of it you have. Sometimes moving 20 miles away from a major city will have a huge impact on how much you keep in your pocket.
One of the first steps to taking control of money is figuring out how much time you can and will devote to the subject of money in your life. Do this today! Do you want to spend a lot of time on it because you want to retire in ten years? or are you willing to only give up an hour a month.
Find this number.