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Last Updated 11/05/2020

Everyone would like more money.  I know I would.   Oh I could go on yoga retreats to Bali.   Maybe I could quit my job and work on this blog full-time!!  I wouldn’t have to be kicking myself right now for forgetting to buy lottery tickets for tonight’s drawing (oops!)  If only!  Even if you make a lot of money, that doesn’t necessarily mean you HAVE a lot of money.  I know plenty of people that are paid very well and are still broke.   To have more money, you have to SAVE more money.  The trick is to make good money and save that money.  I’ll show you what I do to save money.  These are my smart ways to spend less.  

As my Dad used to say, it’s not how much you make, it’s how much you SAVE.  In order to save money, you have to spend less.  It’s that simple.

If you think about it, money is a factor in almost every decision you make every day.  And if it’s not, it should be.  There’s a LOT you can do every day to either SPEND the money you earn or SAVE  the money you earn.  The choice is yours.  You should decide to SAVE as much money as possible so you can be prosperous before you’re dead.  You don’t always want to be living paycheck to paycheck or be worried about money, right?  Right!  So read on to discover smart ways to spend less.

Be Organized

So much money is wasted due to not being organized and lack of planning.  Planning isn’t hard and doesn’t really take that much time.  You will be so far ahead once you get your game plan down.  Here’s what I like to do:

Meal Plan

On weekends I think about my week ahead and check my calendar to see what’s coming up for the week.  How many days do I have lunch meetings?  The rest of the week, I will plan to bring my lunch.  How many nights do I have stuff going on where I won’t be home for dinner?  The rest of the nights, I will plan to cook.  Once I know how many meals I need for the week, I can start on meal planning and making my grocery list.

I go about meal planning differently than most.  I plan my meals based on what’s on sale, not the other way around.  I’m not real picky so I can always find something I like that’s on sale.  This approach saves a lot more money versus how most people shop, which is to write down what they want to eat then go buy it.  This is an easy, smart way to spend less.

Bill Pay

This is just one example or using organization to your advantage.  Make sure you’re organized with your bills and have a system in place to insure you pay your bills on time.  Because  you don’t  want to get hit with a $27 or $35 late fee just for being a few days late.  I pay my bills right when I get paid before I have the chance to spend my paycheck.  This is something I have done forever.  I also keep a handwritten budget so I know what I have to pay out of every check (including what goes to savings).  I know it’s crazy that I still track everything with pen & paper, but it works for me!!

Plan Travel & maximize Card Spending

Travel is another example.  Be organized and make a travel plan far in advance.  Because you will save money if you buy your airfare two months out versus 2 weeks out.  Also, plan ahead to figure out what big expenses are coming up and maximize your credit card earnings.  Or better yet, when you know you’re going to have big expenses, plan ahead and open a credit card or two to take advantage of the sign up bonuses…CHA-CHING!   I love to travel hack!  It’s not hard and the benefits are tremendous:  free night stays, anyone?!  Even with basic travel hacking like joining hotel loyalty programs you can get benefits.  Planning ahead is always a great way to have more money.   It’s also a smart way to spend less!

Live Within Your Means

I know it sounds boring.  This one mindset is probably the most important mindset to master for your financial well being.  Bottom line is if you are always shelling out all your take home pay every month, you will never have any money.  Every time you get locked into payment jail, you lose ground financially.  You are smart so spend less than you make! 

I once knew this guy who was pretty clueless about money.  He made good money, but he never HAD any.  He moved all the time to get cheaper rent.  This might sound smart, but it’s really not because it costs a lot to move.  For one thing, you always have to pay another security deposit when you rent, which of course he was.   He used to brag that he was an expert mover because he had moved to many times.  What??  This is not a good thing!  At the time I didn’t know much either, so I didn’t really get that moving all the time to save $50 a month was probably not the smartest move.

Take Care of Your Needs, Not Wants

People confuse needs versus wants way too often. Most “stuff” you have isn’t a need.  It’s a want.  Your clothes, your shoe collection, your cool car.  If you stop and think about it, you know darn well what is a need and what is a want, so I’m not going to go into examples here.  Because you’re smart and you already know needs are the basic items you need to live.  Don’t give in to (most) of your wants if you ever WANT to have more money!

I know society is plastering pictures of all these way cool “things”.  We see these way cool things and decide we need the way cool thing so we can be way cool too.  Only it doesn’t work that way.  We aren’t any more way cool then we were before we bought the “thing”.  I know sometimes it’s just impossible to pass up on a want, so go for it.  Only do it sparingly or you will never have any money.

Marry The Right Person

Marry someone that has the same money mindset as you.  And, if they don’t even have a money mindset, don’t marry them until you teach them about money.  Money is one of the top three reasons couples get divorced!  It’s a big deal to be on the same  page financially!  Teach your honey how to save and also smart ways to spend less so they’ll be in the know too! 

More Smart Ways to Spend Less:  Avoid HGTV!

Another smart way to spend less is to avoid HGTV!  I love HGTV.  One of my favorite shows is House Hunters.  But,  I have mixed emotions about watching it.  On the one hand, I love it.  The houses they show are always so cool.    On the other hand, I hate it.  I feel like I’m so NOT  up to par because I don’t live in a McMansion like everyone on the show is buying.   It always blows my mind when I see these 25 year-olds looking for new house with their mile-long list of must-haves.  It usually goes something like:

-Open Concept

-Chef’s Kitchen

-4 or 5 Bed

-Great Location, in Best School District

-Move In Ready

Budget:  450-600K.

For. Real.  A 450K budget for a twenty-five year old???  I know it’s way more interesting to look at half million dollar homes versus 150,000 -200,000 homes, but c’mon!  For the vast majority of people a 450-600K housing budget at 25 years old is not real life.  It’s just not.

Don’t Keep Up With The Jones’

For the vast majority of people, a huge, expensive home like this isn’t real life!   I know what my budget is and what I can afford.   We could probably go a little bigger, but at this stage, why??  

It’s paid for.  It’s sorta updated (the kitchen needs an overhaul) and I love the location.  But mostly I love that it’s paid for!  Having no house payment is the ultimate smart way to spend less.  

It’s paid for so we have more money to travel.  We have more money to help out our kids.  We have more money to pay for college!  I love not being house poor.  I love that MORE than having a shiny new home.  Sure we could go out and buy a new home.  

Teach Your Kids to Spend Less

The more your kids know about money, the more chance that they will learn the skills necessary to know how to have more money.    Teach them smart ways to spend less.  Kids are like sponges and soak up everything in their environment.  Make sure you are teaching them good money habits.   This is a good thing for you as a parent, because they will be less likely to come to you for their financial needs.

Sure we all know that most college kids are broke, but that should be temporary.  Once they get out of school, they should be financially literate and be able to make good financial decisions.   I’m teaching my college aged kids that it’s OK to not keep up with what you think everyone else is doing.  No one else is going to be paying your bills so it’s up to you to make the best decision for you, regardless of what other people are doing.

Learn About Delayed Gratification

I want them to understand that building assets takes time, lots of it!  You aren’t really supposed to have everything  you want before you’re 30!!  And if you do have all these things (beautiful home, shiny new car, apple watch, newest iphone)  that’s probably a problem because unless you paid cash,  you can’t afford It!!

Plus, I think whether you’re twenty-five or fifty-five, whatever  you accomplish means more if you have to spend time working  for it.  If everything is handed to you with no blood, sweat or tears, where is the satisfaction in that?    The anticipation of reaching your financial goal so that you can, for instance, buy a boat or go to Europe, is just as much fun as actually hitting the goal.

Final Thoughts

So there you have it.  Now you know how to have more money.  It’s not gonna be easy, but if you put time and thought into applying these mindsets to your life everyday,  chances are you will be on the path to having more money sooner rather than later!

What are your money mindsets?  Let me know in Comments!!

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