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Low-Hanging Financial Fruit And What Comes Next

Low-Hanging Financial Fruit And What Comes Next

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    When it comes to making major changes in your financial situation, you’ll probably get some pretty standard advice for saving money: stop buying coffee every day, brown bag your lunch and start clipping coupons. That’s because these sorts of changes are low-hanging fruit. For most people, making these sorts of changes in their spending is not too difficult — and because they’re everyday habits, it’s possible to save quite a bit of money over the course of a year.

    Finding Low-Hanging Fruit

    Most financial gurus have a few favorite recommendations when it comes to the low-hanging fruit of your finances. Coffee, in particular, gets singled out for attention, over and over again. The fairly common habit of picking up coffee each morning has even been vilified as the ‘Latte Factor.’

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    But what happens after you’ve cut out coffee — or if you don’t drink coffee in the first place? The standard suggestions may not be so useful for you. Instead, it’s worth taking a look around for some low-hanging fruit of your own. There’s no automatic identifier for such an expense, but a simple way to look for savings opportunities is to look at your daily habits. That’s because anything you do day after day can yield more savings because even a small expense can add up quickly over 365 days.

    That’s the real definition of low-hanging fruit: with relatively small amounts of effort, you can get big results. Of course, just how much effort is required for a particular project can differ with something as simple as whether or not you have a coffee pot at home. When you see a financial tip that seems like it would be fairly simple, it’s worthwhile to take a look at the effort and money involved. If the effort isn’t worth the money, it’s okay to keep walking — what is low-hanging fruit for one person is the hardest apple to reach in the tree for another.

    But not all simple changes are the same. Just as there are some relatively simple steps you can take to modify your spending, there are often a few basic options for bringing in more income — such as selling off a few collectibles on eBay. You may even find low-hanging fruit when it comes to saving and investing your money: any time you can automate your savings, you can generally see a better return than if you try to handle the process manually.

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    When You Run Out Of Low-Hanging Fruit

    It can take a little while to change even small habits and work your way through all the suggestions you find from various financial advisers — but sooner or later, you’ll run out of the low-hanging fruit available in your personal situation. That point can be an ideal opportunity to stop and reassess your finances.

    For some people, the easy fixes are enough to move them to where they want to be, financially speaking. Just by cutting down on habitual spending or automating savings, some people will be able to accomplish their financial goals. For other people, though, it can take a little more to move into a financial situation where they feel comfortable. If you find yourself in that second group, it may be time to start looking at some harder steps.

    A starting point is any financial tips you passed by when focusing on simple steps. If you initially considered something not worth the effort it would require — a programmable thermostat might have tripped up one person, while calling a service provider and negotiating a lower rate would be problematic for another one.

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    Another option is aiming for some more significant changes in your lifestyle. A raise would probably make a big difference in your finances, but it may take further education or extra hours at work — it’s the opposite of low-hanging fruit. But it is probably worth working towards if you need to make a bigger difference in your finances in order to meet your goals.

    Small Changes First, Then Big Changes

    Making the easy changes first may seem like a system that won’t pay off as well as chasing a few bigger changes — even if those bigger changes are harder to arrange. But the fact of the matter is that when you’re doing something like changing your morning coffee routine, you’re likely changing an ingrained habit. It’s not going to be the easiest thing to do, but after you’ve changed one or two habits, the rest get a little easier to handle.

    That practice at changing habits can pay off when you start focusing on bigger fish. Something like going back to school to improve your paycheck is going to require a whole new set of habits, in a stressful environment. Having a little practice with the process of changing habits can come in handy in such a situation. The process, as a whole, may take longer, but it will be more likely to pay off.

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    It doesn’t hurt, either that even a couple of the simpler changes you can make to your personal finance can translate into a good amount of cash. If you can stack several smaller steps with a couple of bigger changes, you can wind up with a significant difference in your financial situation. Do the numbers yourself: look at what you can save by changing one small thing in your daily routine and then build from there.

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    Last Updated on March 13, 2019

    How to Get out of a Rut: 12 Useful Ways to Get Unstuck

    How to Get out of a Rut: 12 Useful Ways to Get Unstuck

    Have you gotten into a rut before? Or are you in a rut right now?

    You know you’re in a rut when you run out of ideas and inspiration. I personally see a rut as a productivity vacuum. It might very well be a reason why you aren’t getting results. Even as you spend more time on your work, you can’t seem to get anything constructive done. While I’m normally productive, I get into occasional ruts (especially when I’ve been working back-to-back without rest). During those times, I can spend an entire day in front of the computer and get nothing done. It can be quite frustrating.

    Over time, I have tried and found several methods that are helpful to pull me out of a rut. If you experience ruts too, whether as a working professional, a writer, a blogger, a student or other work, you will find these useful. Here are 12 of my personal tips to get out of ruts:

    1. Work on the small tasks.

    When you are in a rut, tackle it by starting small. Clear away your smaller tasks which have been piling up. Reply to your emails, organize your documents, declutter your work space, and reply to private messages.

    Whenever I finish doing that, I generate a positive momentum which I bring forward to my work.

    2. Take a break from your work desk.

    Get yourself away from your desk and go take a walk. Go to the washroom, walk around the office, go out and get a snack.

    Your mind is too bogged down and needs some airing. Sometimes I get new ideas right after I walk away from my computer.

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    3. Upgrade yourself

    Take the down time to upgrade yourself. Go to a seminar. Read up on new materials (#7). Pick up a new language. Or any of the 42 ways here to improve yourself.

    The modern computer uses different typefaces because Steve Jobs dropped in on a calligraphy class back in college. How’s that for inspiration?

    4. Talk to a friend.

    Talk to someone and get your mind off work for a while.

    Talk about anything, from casual chatting to a deep conversation about something you really care about. You will be surprised at how the short encounter can be rejuvenating in its own way.

    5. Forget about trying to be perfect.

    If you are in a rut, the last thing you want to do is step on your own toes with perfectionist tendencies.

    Just start small. Do what you can, at your own pace. Let yourself make mistakes.

    Soon, a little trickle of inspiration will come. And then it’ll build up with more trickles. Before you know it, you have a whole stream of ideas.

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    6. Paint a vision to work towards.

    If you are continuously getting in a rut with your work, maybe there’s no vision inspiring you to move forward.

    Think about why you are doing this, and what you are doing it for. What is the end vision in mind?

    Make it as vivid as possible. Make sure it’s a vision that inspires you and use that to trigger you to action.

    7. Read a book (or blog).

    The things we read are like food to our brain. If you are out of ideas, it’s time to feed your brain with great materials.

    Here’s a list of 40 books you can start off with. Stock your browser with only the feeds of high quality blogs, such as Lifehack.org, DumbLittleMan, Seth Godin’s Blog, Tim Ferris’ Blog, Zen Habits or The Personal Excellence Blog.

    Check out the best selling books; those are generally packed with great wisdom.

    8. Have a quick nap.

    If you are at home, take a quick nap for about 20-30 minutes. This clears up your mind and gives you a quick boost. Nothing quite like starting off on a fresh start after catching up on sleep.

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    9. Remember why you are doing this.

    Sometimes we lose sight of why we do what we do, and after a while we become jaded. A quick refresher on why you even started on this project will help.

    What were you thinking when you thought of doing this? Retrace your thoughts back to that moment. Recall why you are doing this. Then reconnect with your muse.

    10. Find some competition.

    Nothing quite like healthy competition to spur us forward. If you are out of ideas, then check up on what people are doing in your space.

    Colleagues at work, competitors in the industry, competitors’ products and websites, networking conventions.. you get the drill.

    11. Go exercise.

    Since you are not making headway at work, might as well spend the time shaping yourself up.

    Sometimes we work so much that we neglect our health and fitness. Go jog, swim, cycle, whichever exercise you prefer.

    As you improve your physical health, your mental health will improve, too. The different facets of ourselves are all interlinked.

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    Here’re 15 Tips to Restart the Exercise Habit (and How to Keep It).

    12. Take a good break.

    Ruts are usually signs that you have been working too long and too hard. It’s time to get a break.

    Beyond the quick tips above, arrange for a 1-day or 2-days of break from your work. Don’t check your (work) emails or do anything work-related. Relax and do your favorite activities. You will return to your work recharged and ready to start.

    Contrary to popular belief, the world will not end from taking a break from your work. In fact, you will be much more ready to make an impact after proper rest. My best ideas and inspiration always hit me whenever I’m away from my work.

    Take a look at this to learn the importance of rest: The Importance of Scheduling Downtime

    More Resources About Getting out of a Rut

    Featured photo credit: Joshua Earle via unsplash.com

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