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10 Amazing Things You Gain By Spending Less

10 Amazing Things You Gain By Spending Less

Our lives are consumed by constant sense of worth through material items. Do you have the latest TV technology? Do you drive a brand new car?

We are led by our money. We feel that we need money, to buy these material items, in the hope that it will lead us to happiness. I can tell you now, you are wrong. You don’t need money to be happy and spending less will actually relieve you from the stress. Here are 10 amazing things you will gain from spending less.

1. You’ll have a reduced-stress retirement 

Are you in your work pension? Do you ever worry what you are paying in won’t be enough? Do you worry your current spendings will mean a low-budget retirement? But spending less will ease that stress. Remember retirement is about taking it easy, not about appearing wealthy. You have done your years of working hard and saving (for that TV, that car, that house). Now is the time to unwind and to spend time with family and friends. Your stressful days are done.

2. You’ll be free to do what you love

Do you ever feel that there is not enough time for your hobbies? I know I do. I keep thinking, “Oh, I’ll take some photos on my DSLR tonight.” Tonight comes and I become busy working out my finances and worrying about what I need to buy. Next thing I know, it’s nearly bed time and all I want to do is watch TV.

Freeing yourself from money worries will open the door to new possibilities. Stop spending your time thinking of things that you need. You don’t need new surround sound, or to replace those salt and pepper mills (because they don’t match the rest of the kitchen). Free yourself from those worries and spend the time doing the things you love. Say, “No, I have finished work for the day, now it is me time”. Spend that time on whatever you love, whether it is painting or reading a book. Whatever it may be, the options are in your hands.

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3. You’ll be free to prepare for emergencies

Disaster strikes and with it your bank balance drops drastically. And those car repairs or vet bills cannot wait for a more convenient time. As a result your overdraft, credit card and future bills are left in a confusing and catastrophic state.
Spending less means that you have the opportunity to put away savings. That way, when disaster strikes, you won’t be left penniless. You feel at ease knowing that you have those savings set aside should you need it.

4. You’ll have less clutter

Do you ever look around your room and think, why did I buy that? Or perhaps you have glanced at the endless items you have in storage and wondered why you bought it.

If you are spending less, that clutter won’t accumulate. Imagine the relief from having only items you need, not a mountain of junk. This can be very stress reliving as you will have less time needed for de-cluttering.

5. You’ll be free of debt

The credit card statement has come through. The amount of debt is frightening and you wonder how you will pay it back.

Wouldn’t you feel better if there were no debts to worry about? Of course you would. Freeing yourself from constant spending will make it easy to become debt free. Focus less on the ‘wants’ in life, which snatch away your money. Choose to cease spending and use your money on things you need.

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By becoming debt free, you will take the pressure of yourself. You won’t be frequently worrying about how you are going to pay it back. Another benefit of this is your credit score will not be affected.

6. You’ll be free to travel and see the world

Your mind is wandering again at work. You imagine how blissful it would be to be free to travel, to see the world. If only that was reality. But it could be with the correct approach.

Spending less opens you up to new opportunities, including travelling. If you can learn to spend less, you are more than capable of exploring the world. Not only will you have the money set aside (see point 3), but you will have the right attitude for travelling. Travelling is about exploring other cultures, with food and shelter being the only necessity. You will find yourself experiencing different lifestyles, not wasting time on going shopping. Remember, you should spend money on experiences, not on material items.

7. You’ll have happier relationships

Ever had a row with your partner because he spent money on the credit card? And the argument just seems to keep going, spiralling out of control, until you have forgotten what you were arguing about.

Money puts a strain on our relationships. We shouldn’t let it affect our relationships, yet it does. We all fear being financially unstable and not being able to afford things. Unfortunately we tend to vent out of worries and frustrations on our un-expecting partners. However, if you are spending less, making you financial stable, there will be less strain on your relationship. You can’t argue if you aren’t constantly spending. This results in happier relationships.

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8. You’ll learn new skills

Do you feel like you never have the time to learn a new skill? Have you always been meaning to learn a new language, but never got around to it?

Spending less money will free up your time. Just think about how much time you spend on useless money spending; searching online for a new wardrobe, finding the latest gaming gadgets, bargain hunting, the list goes on. With all this free time on your hands, you can finally learn that new skill. You can learn a new language or learn DIY tricks, whatever tickles your fancy.

9. You’ll be healthier

Finances restrict us. They take up our time, our energy and resources. You may feel that you don’t have time to work out, or you’re so stressed you need to pig out. As a result, your health takes a hit.

Spending less will greatly boost your health. It will take away your stress as you are no longer fretting over finances. That spare time you have gained will allow you to work out. You will have your full attention on your eating habits and be less likely to stress eat.

10. You’ll enjoy life

Our day-to-day lives are fairly manic. We get caught up in life’s motions that we forget to enjoy the moment. Among these culprits is money spending. It is regularly on our to-do lists; buy milk, find Hayley a cool birthday present, buy new yoga pants.

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This is where the true beauty of spending less comes to play. Our focus on money takes away life’s joys, straining our lives and turning our focus on material items. Spending less teaches us that we don’t need these things to be happy. It allows us to look at the current moment we are in, to appreciate what we have and to experience life.

Life is too beautiful to spend it worrying about material things.

Featured photo credit: sufinawaz via freeimages.com

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Published on November 8, 2018

How to Answer the Tough Question: What are Your Salary Requirements?

How to Answer the Tough Question: What are Your Salary Requirements?

After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

Unfortunately, this is the wrong approach.

Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

Of course, you can’t command a high price without bringing value.

The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

1. Hack time to accomplish more than most

Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

2. Set your own boundaries

Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

Here are some important traits to consider:

  • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
  • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
  • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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3. Continuously invest in yourself

Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

4. Document the value you bring

Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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Here are some ideas:

  • joesmith.com
  • joeasmith.com
  • joesmithprojects.com

Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

5. Hide your salary requirements

Avoid giving you salary requirements early in the interview process.

But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

6. Do just enough research

Research average salary compensation in your industry, then wing it.

Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

7. Get compensated by your value

Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

The bottom line

You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

Featured photo credit: LinkedIn Sales Navigator via unsplash.com

Reference

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