Simple Math

Sep 2, 2019 by

money puzzle pieceOne of the more popular New Years resolutions is to save more money. If that’s among your goals this year, please study this equation:

Money Saved = Earnings − Spending

Not counting extraordinary events like winning the lottery, to save more money you’ve got to do one of two things, or both. You must


→ Earn more money, and/or

→ Spend less money

If you’re serious about a saving goal, you’ll have to do more than say you want to save more. You need an action plan. And the sooner you start, the more progress you’ll make toward your concrete goal.

How to Earn More

  • Get a higher paying job
  • Ask for a raise
  • Get a part-time job and work some evenings or weekends
  • Start a side hustle (Blogging’s easy—even I can do it. Not well, but I can do it.)
  • Take in a boarder or roommate
  • Check out peer-to-peer lending
  • Sell some of the useless junk you’ve collected over the years
  • Share your car
  • Write and publish an eBook (you really do know a lot)
  • Become an Apple At Home Advisor

How to Spend Less

  • Make a budget and track your spending
  • Stop eating food that’s slowly killing you
  • Sell a car and join a carsharing organization
  • Take your lunch to work
  • Get competitive quotes for each of the insurance policies you buy
  • Twice a week ride a bike instead of drive
  • Don’t shop
  • Get rid of that self-storage rental unit
  • Cool relationships with friends for whom fun = spending money
  • Break your smartphone addiction
  • Ditch cable and your landline—they’re so 20th century (and better, cheaper alternatives exist!)

Your Ideas for Saving More

Please comment and suggest your additions to the lists above. The more creative the better!

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