De-layer and get rid of the fat

If you are trying to cut costs and save money, here is a word of advice: if it’s not necessary in the overall scheme of accomplishing your goals, eliminate it. Get basic cable instead of premium channels. Have the expense of one car instead of two. Eat tuna and chicken more often than filet mignon. Wear the clothes you have for another year or two instead of the new wardrobe you planned on this year. I remember several years ago I went from earning $40,000 to $100,000 annually. Instead of spending the additional income, I decided to continue riding the bus to work and continue living in a small cottage home purchased a few years prior. I was able to establish a Roth IRA, a 401k at my job, an emergency fund, kids’ college funds and put aside vacation money. I was so excited to get to this next level of financial security t hat I turned off my cable television service for a couple of years and bought a bus pass and toll tag for my car. I began to save additional thousands of dollars annually. With this newfound respect for money, I began to build wealth at an exponential rate. I learned how to think like the people in the books “The Millionaire Next Door” and “Rich Dad Poor Dad.” You may be very comfortable at this time with the amount of money you
earn annually, but try cutting the fat for a year or two and watch your nest egg grow beyond your wildest dreams.