Ever notice that most people think rich people are cheap! Yeah, I think the same sometimes too.But what I have noticed even more is that they are not just cheap, they shop like they are poor or rather for much less than they make.
A person who has money in their pocket does not do what we like to do when we have $20 in our pockets, as in spend it as fast as our fingers can find it.
Financially fit people hoard their money. They save it and even try to find ways to double it and triple it by investing it into something that will return their $20 with $40.
Which leads me to believe that they don’t only do this for a time like we do, they do it as a lifestyle. Why pay more, because you have money when you can get it at a much lower price.
It’s knowing your boundaries and putting them in place. I’ve watched some people take it too far and I think I would never do this; example of looking for spare change in public phones or inside taxi cab seats however, they usually get what they want or close to it when they want something.
And I have to admit, a part of me really admires their talent of getting great value for the money they spend.
I have been working at this, hoping to find great deals and hoping that by looking for these deals, I will also invite more into my life.
I’m trying to downsize by liberating my home of the junk I have collected over the years. Some I am selling for much less than I bought it for and this hurts, but its a great lesson and its reforming me since I see how much money I am losing by having bought stuff that I am reselling at a quarter of the price I paid.
This is a constant reminder to think twice and even three times before I purchase any big ticket item again.
To make sure I am on track I shop around online to make sure I am getting the best deal before I do anything.
I have my favorite places where I can get discounted foods. My favorite Thrift shops to look for treasure for almost nothing. My favorite online places to shop for second hand articles from cars to games to trailers…etc…
To keep myself motivated I make it like a game to see if I can find it cheaper somewhere else. I exhaust every avenue I can before making a final decision and then either go for it or lose interest.
Most shopping sprees are spontaneous and if you can ride the wave without buying more than ¾ of those impulses will go away within a day or so.
The latest thing I have done, is when I buy something I always now look at how much I could get for it if I turned around and sold it right away. If the amount is not close to original price or more, I am tempted to leave it be.
Only on certain things that I know I will less likely get rid of do I not think in these terms. And that is also important. Make sure that everything you add or buy will add value and not depreciate too much over time. If you had a $500 in a porch for your house, make sure that it adds a least $1000 on the value of your home if not more.
And getting something for nothing is always good, because well… it cost nothing.
If you can start thinking like this, you can start enjoying having more money. The important thing is to start training your mind to think this way.
Just remember one simple rule. It’s good to have money to offer you the peace you need to live on this planet. But don’t get obsessed with saving it too hard or you might end up dead and someone else will spend it for you.
I would suggest making yourself financially fit and then save for the things that you want to spend on. Vacation time. Less working hours. Giving to Charity etc…
Spend it on what you want, not on things you could get for a lot less, but pay for because you want to keep up with the Jones or everyone else is crazy enough to pay for it at that price.
A good way of starting you on your journey of saving is keeping a spending journal to which I’ll talk about in my next blog…Until then…remember to be happy! Life is too short to be anything else.