No matter where you find yourself on your journey to financial success, you probably want to have access to more money than you presently have. Whether it’s because you want to increase the amount of money in your retirement, a general savings account or you just want to have more disposable income, there are small steps that you can take that will have a big impact on your financial wellbeing. How can seemingly insignificant steps lead to a better financial situation for you?
Buy Less-Sell More
Care Bears, Beanie Babies, 1990’s baseball cards and a host of other items have brought in millions of dollars of revenue and aren’t worth much today. Instead of sinking money into items that may or may not increase in value, go ahead and sell items that aren’t going to be worth more than you initially spent and use that money to begin building up your new financial goals. Start putting the items that you don’t need on web-based auction sites and watch the money start rolling in. Remember, if you paid for it in the past, somebody will probably pay for it today.
Establish a 30-Day Rule
Several of the items that you will start selling were probably purchased as impulse-buys. Going forward, unless a purchase is a necessity start filtering everything through the 30-Day Rule. If there’s an item that you want and you find yourself about to purchase in the moment, think it over for 30 days. If, in 30 days, it fits into your budget and you can make the purchase without messing up other financial goals, go ahead and get it. However, you’ll quickly find that a lot of desires change within a month’s time.
Drink More Water
No, this isn’t an analogy for some great financial secret. Drinking more water not only has health benefits, it is also good for your spending habits. Not only will a glass of water before a meal make you feel full longer, so you spend less on food, it’s also cheaper to drink water at restaurants than it is to buy soft drinks or alcohol. Consuming water, especially when you’re going out to eat is better for the health of your body and your budget.