For The Most Important Money - Yours

There are only two ways of saving more than you are now: either you earn more money or you spend less money.

There are two ways of being happy. We may either diminish our wants, or augment our means – either will do – the result is the same. It is for each man to decide for himself, and then do that which happens to be easiest. -Benjamin Franklin

Earn More

This is the harder of the two ways but it can be the more beneficial. Earning more involves increasing your income either through investments or good old fashioned hard work.

The main ways to earn more are to work more or get paid more for the work you do. The latter includes changing your work through a promotion or getting a higher-paid job.

Working Overtime
A lot of businesses offer their employees overtime. This is a very popular way to earn more money than you would normally receive. Some people even rely on overtime to off-set a low income.

Getting A Second Job
You could get a second job. This could include a night job or something extra on the weekends – basically anything that falls outside you current work. This isn’t recommended over the long term as you could easily wear yourself out, but if you are looking at paying off debt quickly or need to save in a hurry, then this could be a good short-term solution.

Pay Rise
With this strategy you try and get more money for the work you already do. Either by working harder or better or both so that your employer will pay you more. Depending on the job you have this could be challenging.

Get A Promotion
This is usually accompanied by a higher wage and while it would not suit everyone, a lot of people strive for this in their current jobs.

Getting a Better Job
Whether through getting a higher education or gaining more or different skills, this can be a great way to increase your income. Looking around for a better-paying and more fullfilling job could be just the thing you need.

Starting A Small Business
Starting a small business from home is a great way to earn extra income. This can be as small or as complex as you make it, and can even lead to you quitting your day job.

Spend Less

This is the easiest of the two ways to save more, and the road most people take when they are trying to save. You simply decrease the amount of money you spend.

Cut Back On Expenses
Going shopping less often, heading out on the town less fequently, curbing your frivilous spending – all of these will cut the amount of money you spend and allow you to save more.

Slash Your Bills
Reducing your bills can be a great way of finding extra cash. From turning off lights and using your air conditioner sparingly during summer to cutting back on cable television and your mobile phone plan, there are a myriad of ways you can save money on bills. You just need to look for them.

Eat Better
Cooking your own food and eating out less will not only save you money it will make you healthier as well. Reduce eating out to a special treat and learn to cook simple yet healthy meals at home from basic ingedients and save a heap on your food bill.

Don’t Keep Up With The Jonses
Living within your means and wanting less is a great way to save money because it means that you will be less likely to buy the latest fad product or try and out-do your peers. Be content with what you have and focus on quality over quantity.

Live Simply
Don’t over-commit yourself financially and live a simple yet extraordinary life. Favour experiences over things and be mindful of the difference between a want and a need.

Remember that there are only two basic ways you can save more, but a myriad of ways you can do each one. So experiment with them and try and find the perfect balance for you.

Have you found your perfect balance?

Image Credit: Cimexus, Robert S. Donovan

Author Info
This article was written by Russ – the founder of MonoMoney.com and total geek. Feel free to contact him via this website and let him know how well he is doing. Or just leave a comment below.

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