6 Pack Financial Guide
Copyright 2014 by Chris Sipos
Simple money saving budget ideas:
Stop eating out for lunch. You think it is just $5.00, but keep in mind that you paid taxes on that money. That means you actually are paying 25-27% plus an additional 6% sales tax, so it is really a $6.50 lunch. This should make it a little more painful for you next time. A better option for you is to buy frozen meals, pack your own, or can buy the big sub sandwich from the Walmart deli that will feed you for 2 days.
When thinking about spending money, consider what type of an investment it is and do you really need it. A giant wake-up call for me was when I asked myself what I had to show for all the work I have done since 12Yrs old. If you took everything you owned and went to the flea market and sold it all, then that is what you have to show for your work. This is of course minus what you owe on these items, so a car that is now worth $5,000 and you owe $5,000 is worthless.
Try an only invest in things that hold their value or can be used to make money. Clothes, furniture, fancy cars, cheap tools, grills, and so on all basically worthless as soon as you take the tags off.
Credit cards are compounding interest, which the interest is figured monthly. This is not like a fixed rate like a car or a house. If you think your job is a pain, just think about the credit card company getting paid by you with nothing in return. Look at the interest you paid that month and think about something you would have liked to buy with that money instead.