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For the vast majority of people, paying off debt and saving money can be done painlessly. That is to say, most people can pay off their current debt and start a saving fund without making major changes to their current lifestyle. How can this be done? By simply rearranging how you spend your money.
Although we don't often think about it, there is an art to spending money efficiently. Like any skill, it's a matter of study and practice to get better at it. While some people are better at picking up the skill than others, anybody can easily learn the basics of this art which can save them thousands of dollars a year.
Lets take an easy to understand example. Let's say that you purchase a cup of coffee on the way to work everyday at a local shop for $2.00. This would meant that you spend $40 (20 days x $2) a month. Most people would probably do this without even thinking twice about it.
Now if you made the same cup of coffee and placed it into a thermos each morning before you went to work and took it along with you, the same coffee it would cost you about $0.50 a day. That adds up to a total of $10 a month. By making your own coffee instead of purchasing it at a store on the way to work, you save $30 a month (over $350 a year) without giving anything up (you still get your coffee everyday). All you have done is rearranged the way that you spend your money.
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Let's take another example. You have your phone service and pay a certain amount each month for it. But are you getting the best deal on your service for the way you use the phone? Chances are you aren't, but the phone company isn't going to tell you that on their own. Most people can save over $100 a year on their phone service by calling their phone company and signing up with a discount or bundled plan geared toward the way they use the phone as opposed to the standard plan with extra options that most people have. Here again, you are getting the exact same service you currently receive, but are paying less for it by rearranging the service to your advantage.
There are literally hundreds of ways that you can rearrange the way you spend money. In the process, you will get the same goods or services that you are currently receiving at a fraction of the cost that you are currently paying. The money saved can then be put forth to eliminate your current credit card debt and start a savings plan. All it takes is a little understanding of the art of spending efficiently and to actively look for ways you can rearrange how you spend your current income to make your purchases more efficient.
Although we don't often think about it, there is an art to spending money efficiently. Like any skill, it's a matter of study and practice to get better at it. While some people are better at picking up the skill than others, anybody can easily learn the basics of this art which can save them thousands of dollars a year.
Lets take an easy to understand example. Let's say that you purchase a cup of coffee on the way to work everyday at a local shop for $2.00. This would meant that you spend $40 (20 days x $2) a month. Most people would probably do this without even thinking twice about it.
Now if you made the same cup of coffee and placed it into a thermos each morning before you went to work and took it along with you, the same coffee it would cost you about $0.50 a day. That adds up to a total of $10 a month. By making your own coffee instead of purchasing it at a store on the way to work, you save $30 a month (over $350 a year) without giving anything up (you still get your coffee everyday). All you have done is rearranged the way that you spend your money.
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Let's take another example. You have your phone service and pay a certain amount each month for it. But are you getting the best deal on your service for the way you use the phone? Chances are you aren't, but the phone company isn't going to tell you that on their own. Most people can save over $100 a year on their phone service by calling their phone company and signing up with a discount or bundled plan geared toward the way they use the phone as opposed to the standard plan with extra options that most people have. Here again, you are getting the exact same service you currently receive, but are paying less for it by rearranging the service to your advantage.
There are literally hundreds of ways that you can rearrange the way you spend money. In the process, you will get the same goods or services that you are currently receiving at a fraction of the cost that you are currently paying. The money saved can then be put forth to eliminate your current credit card debt and start a savings plan. All it takes is a little understanding of the art of spending efficiently and to actively look for ways you can rearrange how you spend your current income to make your purchases more efficient.
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