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NEW YEAR'S RESOLUTION: BUILD AUTOMATIC WEALTH

| December 01, 2023

More Money Saving ideas:

MONEY TO INVEST IS RIGHT IN FRONT OF YOU!

We all know that as investors it's crucial to "Pay Yourself First" and make investing a priority, a "bill" paid to our future rather than an afterthought.

But WHERE to find that extra money on a consistent basis?


Well, it turns out that you already access to it! With a little effort and conscientiousness, you can re-purpose money you already earn with these @maendelwealth money saving ideas!


#1) It's colder now. Cold air contracts, so your tires are probably 10-15% underinflated most of the time according to the AAA. Fill your tires up to full recommended pressure and save 10-20% mileage from more efficient rolling, immediately. If you don't have a car with tire pressure monitoring buy a cheap digital tire pressure gauge and a tire inflator pump if you don't already own an air compressor. If your car has tire pressure monitoring, make sure its actually indicating the correct pressure for your tires.

(Think about it! What's 20% of your current monthly gas bill? Fifty bucks? Start investing it on autopilot, pulled directly from your checking. Set, and forget. You'll thank yourself later!)

#2) Cook at Home: Eating out regularly can quickly add up. By cooking at home, you not only save money on the cost of restaurant meals but also gain more control over your ingredients and portion sizes. Plan your meals, buy groceries in bulk, and explore budget-friendly recipes.


#3) Unplug Electronics: Many electronic devices continue to use energy even when they're turned off. Unplug chargers, appliances, and other electronics when they're not in use to reduce your electricity bill. Consider using power strips to easily disconnect multiple devices at once.


#4) Negotiate Bills: Regularly review your utility bills, cable, internet, and insurance payments. Call your service providers and inquire about any available promotions, discounts, or loyalty perks. Negotiating these bills can often result in immediate savings.


#5) Limit Impulse Purchases: Impulse buying can quickly drain your budget. Before making a purchase, especially for non-essential items, take a moment to consider whether it's a want or a need. Avoid making impulsive decisions and give yourself time to think about the purchase. This one is especially important during Holiday Season!

#6) Proper Car Maintenance: Besides keeping your tires fully inflated, regular car maintenance can significantly save you money in the long run. Changing your air filter, getting regular oil changes, and keeping up with scheduled maintenance can improve fuel efficiency and prevent costly repairs.


These small adjustments will add up over time, contributing to significant savings and investment without requiring major lifestyle changes.

Remember, establishing a new habit takes only 30-60 days. After that, it becomes a part of your new automatic wealth-building self!


Just remember to commit to investing a monthly amount you can maintain, sustainably. You don't want to over do it and wind up having to draw on your investments during a market dip, so know your budget and plan accordingly.

In life, everything is balance!