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8 Expensive Things You Always Spend On Which Make You Less Rich

8 Expensive Things You Always Spend On Which Make You Less Rich

Our expenses are closely connected to our lifestyle, our habits, and generally our interests. It is also quite common how we tend to justify our expenses, but we can be very judgmental as we watch those around us spend their money. It is perhaps a defensive mechanism we’ve gradually developed, while living in the consumers’ culture.

However, you are not required to give up on buying things, all you need to do is re-evaluate your decisions and approaches. In other words, how to still get what you want, but at the same time preserve your budget. Prudence is a virtue, you should not hesitate to practice, for it will bring a certain dose of stability in your future life.

1. Bottled water

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    Yes, water is one of our essential needs, but we are not obliged to spend money on bottled water. Even though tap water usually contain harmful bacteria, it can be drinkable if you install a water filter. Truth be told, a filter is not that big of an investment, yet it can save a lot of money and it is far more convenient to pour water from the tap.

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    A liter of bottled water approximately costs 2$, and let us assume that the natural daily intake of water is around 2,5 or 3 liters. By switching to tap water, you save up to $5 dollars on a daily basis, or $150 per month.

    2. Printer ink cartridges

    Regardless whether you use your printer frequently or not, buying a new cartridge every time your old one is depleted, is an unnecessary expense. Cartridges are designed to be refilled, and you can either have someone else to do it, or you can get your hands dirty and fill them yourself. Either way, you will restore its functionality at only half the price. Moreover, it would be wise to buy a quality printer that uses cheaper ink, if you tend to use your printer regularly.

    A new cartridge can cost between $40 and $60, but it can be even higher. Refilling, on the other hand, is only between $10 and $12, so you save around $30 by opting for a refill.

    3. Cable TV and magazine subscriptions

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      Almost everything you want to read in your magazine is available online for free. As far as cable or satellite TV is concerned, you can stream an incredible number of shows or full length movies on Hulu.com, free of charge. Netflix offers a lot of quality material as well, charges only 9$ a month for these services, which is still cheaper than your cable subscriptions. In other words, any quality TV show you pay over $9, is basically a waste of money.

      4. Books

      It may sound outrageous, how can buying a book be considered as reckless spending. Well, it can. Buying books online, and reading it on an e-reader is a cheaper alternative, borrowing books is another budget friendly option, and a membership in the library is perhaps the best one. Buying a book that you want to read more than once is alright, but let’s face it, we love to show off. We decorate our bookshelves with our favourite chronicles and authors, to the point when it starts to feel shallow.

      The whole point of a book is to provide you with cautionary tales, help you forge some personal wisdom and moral values. If you start to treat it as a personal possession that you use to impress your friends, then you are buying it as a decoration. It is hard to say exactly how much you save by buying books for an e-reader, but you save around 40 to 50% for each book you purchase.

      5. Expensive Branded items

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        Let’s be honest, in the event you have developed a taste for buying globally renowned branded items, then your wallet is in a serious trouble. There is nothing wrong with having your own style, or trying to mimic modern fashion, but paying significantly more, simply because of a particular trade mark is madness. For example, buying an expensive item can sometimes cause more stress than satisfaction. You are more likely to get mugged, so you need to be vigilant all the time; it may not be compatible with all of your dressing combinations.

        A luxurious bag can cost $1000 or even more, but a military messenger bag f.e. will cost between $70-$100. The same applies for other branded items, if they drain your budget, condition yourself to look for cheaper alternatives. Learn to be more creative, don’t try to impress people with brand names – you are spending too much for something that is only a fleeting sensation.

        6. Video games     

        This is the same as with books – you do not need to own the game, you are only enlarging your connection to impress the Internet (the online community). It is alright to consider yourself a proud gamer, however, spending tons of cash just to let it the world know is absurd. Surely, you have friends who are also game enthusiasts – make an agreement with them, who will buy which upcoming game.

        There is no need to spend $40 every time a new game comes on the market. Furthermore, if you play games with monthly subscriptions ($10 – $15 a month), or even worse, freemium games, stop at once. Do not even try to justify the reason why you are playing them, just stop and find a new hobby. If you are able to play it for two or three months, see what it’s is all about and quit. If you can’t show this level of restraint, then you should aks yourself if you might be an addict.

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        7. Lottery tickets

        The number of people who play the lottery is ridiculously high. As John Oliver on “Last Week Tonight” said: Planning how you will spend your lottery winnings is an equivalent to planning what to say on your third date with Beyoncé. The only thing your lottery ticket does, is help the rich to get richer. Despite the fact that a single lottery ticket is approximately $3, the amount of money people spend to participate is large, since you usually buy more than one ticket. Instead of buying a ticket, put all that money in a piggy bank, and you are bound to be more satisfied after a couple of months, when you smash it.

        8. Buying new things

        Buying a new cell phone, a new car, a new console etc. the moment it appears on the market is yet another form of irresponsible spending, especially if you already have properly functioning utilities that are former models. Boasting with new items can be fun, but continually doing so is just sad. Why would you work so hard, every day, only to allow yourself to be manipulated by cheap advertising tricks?

        If you think of yourself as a collector or enthusiast, there is no need to buy these items the moment they hit the shelves. If your old iphone is still functioning, you do not need to spend $600 just to buy a new model. The same applies to your car – spending between $6000-$7000 for a new one is losing a fortune for no particular reason.

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        Djordje Todorovic

        Blogger, Gamer Extraordinaire

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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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