I’m always looking for ways to increase wealth for myself and others. One way I’ve learned that works is making small changes to my current spending habits. After creating a budget sheet and observing where I can cut costs on the big stuff like utilities, cable television, cell phone and internet bills. I then focus on other ways I can cut costs and make my household budget last longer.
The men in my family get hair cuts every two weeks. The cost of a haircut has gone up significantly. My son just had a barber cut his medium length hair for $25.00. So if he would go to that same barber every two weeks (I have since encouraged him to find a new barber who doesn’t charge that much), he would pay a total of $650.00 dollars a year. Now, if he stretches out his routine from 14 days into 18 days he could save $130.00 and only pay $520.00 per year. He could save even more if he keeps it long or learns to cut it himself (I’m just saying). Ladies I think we sacrifice enough, however, to make things fair I have to include some things for us on this post too. So, we can benefit from limiting the number of visits to the salon for our nails, and hair by doing them ourselves. Maybe once a month we can wear our up-do and have some girlfriends over for a ladies ‘mani’ and ‘pedi’ party. We can pool our funds together, do each other’s hands and feet or have a beautician come to our party! 😀 Sounds like a good plan to me!
I’m writing this to help others think creatively about ways to increase their wealth. Here’s a little acronym I came up with when shopping. I call it the MASS shopping system.
Make a list of things as they run out and before going shopping to force you to stay on budget.
Analyze what is a want versus a necessity. Wants are things you can do with out like a bottle of wine, cookies, cakes, ice cream. Yes, believe it or not we can live without them, although life is a little bit more boring. 😉
Sort through the coupons you receive in the mail from Sunday’s news paper during your down time or just before shopping. Then plan your departure to the store and return home to save on gas.
Stay focused so you don’t get distracted by impulse items. You know, those cookies and ice cream. So maybe just buy them once a month from your savings. 😀
Those are my tips for this month. Short, sweet, and to the point. Thank you for your time, and remember to like this post and share it with others. Our positive energy makes the world a better place for everyone. 🙂
Wishing you peace and prosperity,
DRIP or dividend reinvestment program/plan, is a term not many are familiar with, although it’s been around since the 60’s. Many companies offer this program to their employees through stock options, that allow them to reinvest their cash dividends back into the company by purchasing a share or fractional shares of the company’s stock.
If you want to get into investing but are a little skeptical about the market, this is one of the best ways to begin. Start with companies you use, or are familiar with like your cell phone company, or hair care products. Get the company’s phone number from their website or prospectus and request to be transferred to their DRIP enrollment department. Once you purchase a stock in your name, you will be eligible to participate in the reinvestment program, it’s as simple as that. Then sit back and watch your earnings grow. 😀
It’s not a good idea to watch your stocks daily, because market fluctuations can cause a panic, but it’s recommended by investment analysts to buy and hold for a period of time, at least three to five years. What I suggest is to check on the progress of your investment monthly to see how it’s doing over the course of a year and then make a decision to keep it or sell. Once you sell, there is a portion that must be paid out in capital gains. Speak with your tax adviser about those details at tax time.
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Wishing you peace and prosperity,
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Since being convicted in 2004, for defrauding clients out of $200 million, Belfort has reinvented himself as a “reputable entrepreneur”, working with client’s like Delta and Virgin Airlines. When interviewed by Nick Harding of the Independent, Belfort states “he still teaches his “Straight Line” selling technique; a set of pre-determined steps from first contact to closing a deal, in his seminars that pays him close to $30,000 an hour.” That’s not a typo $30,000 an hour, what some employees make in a year.