“I need more money!” That’s what a lot of people tell themselves these days. Thanks to Samantha Sharf’s contribution in Forbes Investing, we at Wealth Mentors thought it would be useful to share some of the key highlights of her post.
(We also added our own spin to a few.)
Check it out …
1. Complain. That’s right. If a restaurant gives you cold food that arrives late, complain. Ask for a refund. No one deserves to pay for poor service. Don’t lose money by being too nice.
2. Ask For a Pay Rise. Many people are afraid to ask for a pay rise. They fear they will get rejected. But managers aren’t mind readers. If you don’t ask, you don’t get.
3. Accelerated Savings Challenge. Week 1: save $1. Week 2: $2. Week 3: $3. By the end of the year you’ll have saved $1,378. And if you are brave enough, try doubling the amount you save every week and see how far you get (you will be shocked)!
4. Find and Sell Unused Gift Cards. If you have unused giftcards, sell them! Look in your wallet, in your drawers, on your desk, and in your car car. If you don’t need them–Gift Card Granny aggregates offers from around the web for buying and selling gift cards at a discount.
5. Sell Old Books. Many used book stores will pay a small fee for your used books, even a modest stack of them.
6. Acorns. Acorns invests your extra pennies into a portfolio of ETFs. All you need to do is connect your debit or credit cards to round each purchase to the nearest dollar. The extra cents you round off is your investment! Anyone can be an investor now!
7. Digit. Digit monitors cash flow to determine how much you can afford to save. You can set it so that a couple times each week, Digit takes a few dollars from your checking account and puts it into a Digit account. It alerts you via text message every time it does.
Hope you enjoyed these tips. We were pleasantly suprised by a few of them too!
Note: These tips won’t make you rich. We can’t guarantee that. To get rich, you have to learn the timeless principles of wealth building that go much further than saving and earning money.
Question for you: If you were given an extra $100,000 right now … what would you do with it first?
Do you have a tendency to save, invest or spend it?
(The answer to this question is important. It can determine your financial destiny!)
WM Team 🙂