Frugal Tip Monday-It's Not What you Make but What You Spend?

Finance is another true love of mine. I came across a great article on Iwillteachyoutoberich.com regarding Conscious Spending. It definetly hit home with everything that I have been reading about lately. It's not what you make but what you spend is the real key to financial success.

According to Ramit Sethi, unless you establish a financial mindset at a very young age it is hard to break the I-want-it-now habit. He gives a scenario of three friends, their salaries and how they spend.

Friend 1: The Shoe Lover-She spends at least $5000 a year on footwear. Stating that he does not truley believe in the purchase but her six figure salary and various investment makes her authorized for a splurge or two.

Friend 2: The Partier- This friend can roughly spends close to $21,000 a year on entertainment. Mind you that is a bit excessive but again with a healthy salary and a nice standing in his 401K and real estate invesments he is sitting pretty.

And last but not least, Friend 3: The Subscription Nut- He has every subscription from Netflix, local gyms, and online music accounts. He does not disclose his salary but does mention that he does have a budget and plan for his money every month. That means its not more about the spending than it is managing the money.Money should always have a name and a plan.

Iwillteachyoutoberich.com is a great resource for help and direction to a secure financial future. I just ordered the book yesterday, and I hope it lives up to everything that I hope for. I will write a review and let you know if it is worth the read.

Check out another Frugal Tip Monday tips about creating a budget and tools to help manage your finances.

Frugal Tip Monday- How Being Lazy Can Cost You

I came across a great article from DailyWorth, a site that offers free financial advice for women. I was reading their recent article The Cost of Being Lazy and it really hit home. We are all somewhat lazy when it comes to our finances. Whether it be saving, spending too much, or just not taking care of the monthly necessitates. It can really add up "FAST". According to DailyWorth here are some examples of laziness that are done quite frequently.

1.Not finding the best rate for your savings account

2. Not opening a retirement fund ASAP

3. Not sending in your rebate offers

4. Waiting till the last minute to pay bill

and incurring late fees

5. Not negotiating a deal

For solutions on each topic please visit: Get Rich Slowly

Please feel free to let me know, what ways you are wasting money and if you have any solutions to turn things around.