What are some money saving tips?

  1. Buy good quality clothes, but only what you need: A pari of Levi will last so much longer than cheap stuff. A good shirt will always keep good. Look smart and clean but keep away from the branded stuff. Not including underwear or socks, if you have more than 25 items, then you have too many clothes.
  2. Buy a car, dont lease: I just bought a great Mercedes of 5 years old. 40K miles. Cost GBP11K. Original price was gbp43k. It will last me 10 years and as it is diesel, it does 60 miles per uk gallon. Make sure you have some knowledge to look after the car yourself. It is easy to service a car yourself and so much cheaper.
  3. Don’t get credit cards. If you cant afford it, dont buy it.
  4. Cook your own meals and stop eating out. Only eat out if their is some sort of ROI on the meal and with those you are dinning with.
  5. Stop buying expensive coffee from starbucks. Make your own coffee at work
  6. Make lunch for work. Eat your sandwiches in the park or somewhere but dont buy food out. If the food is cheap (McDonalds etc) then you may as well eat cardboard. If it is more expensive than McDonalds, then you should have made your own luch and brought it to work
  7. Dont smoke
  8. Dont drink; unless you are with someone that has some ROI of interest
  9. If you cant drive a car, learn how to ride a motorcycle – get yourself independently mobile. Get a simple motorcycle that is happy to cruise at motorway speeds. Not a small motorcycle that struggles to get to 50mph.
  10. Stop being concerned about what others think, it really does not matter.
  11. Get good quality shoes – and keep them clean and polished. People look at shoes and will judge you on the quality of shoes you have.
  12. Forget about expensive jewelry. No rolex.
  13. Becareful of your partners expectations on life. If it looks expensive, it probably is. Keep away.
  14. Turn the lights off in the property in the rooms you are not using
  15. Invest in solar panel water heating
  16. Money saved should be actively invested, don’t put it in a savings account. You can make $10 into at least $12 in a month. That not enough??? Well then $1000 can be turned into $1200 in a month. Cumulative over the year, you should be able to turn $1000 into $7427, therefore a profit of $6427. Once you get into the roll, you wont need to work again other than managing your own small portfolio.

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