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Learn These 10 Easy Skills Now And You Can Save A Lot of Money

Learn These 10 Easy Skills Now And You Can Save A Lot of Money

There are certain things that we have to pay other individuals to perform for us. From the dentist to certain construction tasks, it would be less stressful and wiser to consult an expert. However, for certain tasks, like an article of clothing that is damaged or dog grooming that we can perform ourselves and save a ton of money in the process. This not only makes you a wiser individual economically, it allows you to also be more self-sufficient in a time of rising costs and the environmental impact certain acts have. Today, we will talk about 10 easy to learn skills that you need to acquire today to save you money in the future.

1. Website Design

This is by far my most favourite tip to give. Not only because I’m currently working on advancing my programming knowledge, but also because it has both money saving and money making qualities. Squarespace is a website design website I make use of and a separate website for my domain costs. Even with a working knowledge of HTML and CSS, I use Squarespace because I simply love their templates I can tinker with. With Squarespace alone I am paying $120 a year, that’s $10 a month. For those who can program their own website, they are able to make it uniquely their own and can even offer their skills to other people as a way of making money. Code Academy is a great place to start and you’ll need to work toward learning HTML/CSS and Javascript.

2. Cooking

preparing food

    Some reports attest that the average American eats out twice a week, spending on average $10 each visit. Totalling close to $1000 a year when you add in taxes, and almost an additional 50% of that when you factor in taxes. In summary, that is what equates to a round-trip international plane ticket, going down your gullet. While I am not recommending you to stop eating out all together, I still spend the average a year on eating out, if not more, I do recommend you take up the skill of cooking if you are looking to save money. With the numerous recipe applications, articles, and websites out there, cooking is more accessible and easier than you think. With the money you’ll be saving, cooking your own meals every now and then will grow on you.

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    3. Dog Grooming

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      There are certain upkeep costs that require the intervention of a vet when it comes to pets. However, there are many individuals who pay for dog grooming to ensure that nails are kept trimmed or even polished! With some services costing between $20 and $50 a visit, you are simply throwing money into the litter pan with dog grooming costs. Instead, learn to do some of these things yourself. From giving your dog a luxurious bath to keeping up their mane, you will be saving between $300 and $600 a year. Plus, it’ll allow you to connect with Fido.

      4. Clothing Repair

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        Oh no, there’s a rip in your pants. What are you likely to do? Chances are high that you’ll either throw the pants out or do the “frugal” option of taking them to the tailor. But when you think about it, is having someone else repair your pants really frugal when you have two working hands of your own. No it is not, and there are various resources online and show you how to make small repairs to clothing mishaps, preventing you from having to make a trip to your tailor or the local shopping mall. With the average tailor visit costing between $10 and $30, you’ll save $120 to $360 a year repairing on our own.

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        5. Cutting Hair

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          Salon costs are heavily weighed especially on gender. Granted, a woman may request a couple of more additions to their hair bill, including some styling here and there, but for the most part, women pay more in any situation. Depending on the size and location of the city you live in, especially as reported in this Huffington Post article from May of last year, you can find yourself spending between $900 and $3000 on average for maintaining that gorgeous mane of yours. That’s outrageous, and you may want to look into how to give or allow a family member to give you a small trim between less frequent visits. The other hair cost, hair products, can also be reduced as well. Guys, I’m looking out for you all as well (how to trim your own beard and how to cut your own hair).

          6. Walking

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            Taking your car everywhere, even when you have no where to go and just want to go for a ride on a nice Saturday afternoon can cost you in the long run in wasted gas. Instead, look into walking to more places if you live in a neighbourhood that would make this possible. Even if you don’t, if you are on break at work, walk around the city instead of driving to your lunchtime errands. If you do live in a walkable neighbourhood, consider forgoing your car all together. Learning how to tackle your city like a true city person will allow you to let go one of the biggest expenses of all. Forgoing your car results in saving almost $3000 a year.

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            7. Preparing Taxes

            Preparing your own taxes can be so stressful that individuals are willing to shell out on average $261 a year to have someone else do it. While in complicating situations, for example the case of freelancers, it is wise to consult a bit of help. However, if you are a run of the mill taxed American, you will probably find that preparing your own taxes is wiser for you in the end.

            8. Negotiating

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              There are certain countries where a majority of your purchases are set in stone, in other countries negotiating is the way to go. However, in the United States, many of the services that we feel are set in stone can actually be negotiated upon. Chances are, in our society, you’ll find things marked with a price tag, but you can definitely find ways to negotiate in the form of discounts. You aren’t haggling or being a penny pincher by asking if places have discounts for students or other groups you are qualified under. If you have enough proof, your chances of getting some unadvertised percentage off can save you a ton in the long run. All you have to do is learn the art of speaking up.

              9. Car Maintenance

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                As mentioned before, walking can be a great way to save almost $3000 if you forgo your car all together. However, if you are like most Americans and can’t let the keys go, there are ways to save on things like car maintenance. Certain things, like changing a tire or keeping up with your car’s oil are simple and quick tasks you can perform yourself with the right tools and know-how. Maintaining your car yourself, without the need to go to a dealership aside from larger issues and inspections will save you hundreds in the end of the year.

                10. Stay-cationing

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                  Paying hundreds of dollars for transportation, hundreds more for lodging, and eating out are all the components of an expensive but great vacation. However, very few people fail to look at what is to offer in their own backyards (~50 mi). Living in Northern Virginia alone, if I want city fun I can go to Washington D.C, if I want nature, i can go to the numerous national parks, including Great Falls, to take in the scenery. Make use of websites like Yelp or your city or state’s official website. They can offer insight into various activities available to you to enjoy.

                  Grand Total of Savings: ~$3500 – $6000 a year.

                  With the tips outlined in this article, you can find yourself saving a ton of money that can be applied toward a certain item or trip you have been only wishing to partake in for the longest. Let us know in the comments below what you’d spend your personal grand total of savings on.

                  Featured photo credit: 120 Hours via 120hours.com

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                  Last Updated on April 28, 2020

                  9 Millionaire Success Habits That Will Inspire Your Life

                  9 Millionaire Success Habits That Will Inspire Your Life

                  As technology evolves and information becomes more accessible, it has also become more challenging to define success. A lot of people are trapped in the rat race while trying to discover the actual formula for success.

                  You could become overwhelmed with what tools, techniques or philosophies to imbibe while trying to get tips over the internet. At every click and turn, there are ‘how-tos and quick-fix’ on how to become successful overnight. You will find several courses, articles, videos and books on how to achieve financial success.

                  But what if I tell you it doesn’t have to be complicated as people made it out to be? What if you could achieve success by merely following these 9 millionaire success habits?

                  1. Read for Personal Development

                  A daily habit I have discovered millionaires share in common is reading. For instance, if you are an entrepreneur, you need to read to become an efficient leader and a productive business owner. Reading helps you to grow and learn without going to a business school.

                  A research conducted by Thomas Crowley indicates about 85% of self-made millionaires read at least two or more books each month. [1] Warren Buffett is one of these examples. He spends 80% of his day reading. In the early days of his investment career, he would read 600 to 1000 pages in a single day.

                  While millionaires sometimes read for pleasure, they also learn to improve themselves. They read topics on leadership, how-tos, self-help, biographies, lifehacks and also follow current events.

                  Here’re some recommendations for you: 25 Best Self Improvement Books to Read No Matter How Old You Are

                  2. Establish Multiple Sources of Income

                  Another success habit I noticed about successful people is that they don’t depend on a single income source. Every millionaire possesses multiple sources of income. This helps them to manage economic challenges and also make more money.

                  They are passive income addicts. They earn interests from loans, rental income from real estate, royalties from intellectual properties, dividends from investments. They also launch a side business or run a website or sell information products.

                  How income is made either passively or actively is what separates the successful from the wannabes. They are always learning ways to build multiple streams of income.

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                  3. Live on a Stipulated Monthly Budget

                  An average millionaire does not believe in luck and jackpot. They take the time to understand cash flow-income and expenses. Based on this, they establish a monthly budget and religiously stick to it.

                  The essence of the budget is to minimize unnecessary expenses. This will help you gain complete control of your financial life. Budgeting helps you to avoid overspending to achieve your financial goals. Here’re some tips to help you stuck to your budget: 32 Hacks for Sticking to Your Budget

                  4. Manage and Maximize Money

                  The most significant education for a millionaire is financial intelligence. Nobody attains financial freedom without gaining financial intelligence. This is the more reason millionaire, regardless of their income, keep their knowledge about tax strategies updated.

                  They always seek to reduce their tax bills. One approach they employ is by living or incorporating their business in states with no income tax.

                  Do you know that about 60 companies paid $0 legally in the 2018 tax year? Some of these companies that ‘avoided'(note: not evaded) federal income tax include Chevron, Amazon, Halliburton, General Motors, Delta. Their US income was totaled at $79 billion with an effective tax rate of -5%.

                  What’s the deal? They got a tax refund.

                  How do they accomplish these?

                  An ITEP report indicated that they have the culture of throwing huge sums at tax experts who assist them in discovering creative, as well as convoluted means of paying little tax as much as possible.[2]

                  5. Avoid Debt

                  Another habit that separates the millionaires from the rest of the world is how they manage debt.

                  They don’t live an extravagant lifestyle; instead, they only buy what they need and can pay for. They do not book hotels and flights by using their credit cards to pay for them.

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                  They are conscious of the interest rates even when they use credits cards or take loans. If possible, they try to pay with cash because of its zero percent interest rate.

                  6. Set Daily Goals

                  It does not matter if they are setting up a business, a career, or financial projections; they have the success habit of setting short term goals. They plan daily and weekly goals to generate momentum in achieving their long-term goals.

                  Ensure you prioritize when setting daily goals. This will help you to achieve the most important to-dos on your list.

                  Setting priorities will help you to focus on highly rewarding activities. If you desire financial freedom, it is wise to pursue activities that earn you thousands of dollars rather than hundreds of dollars.

                  7. Don’t Act Rich

                  The goal is not to act rich but to be productive. Interestingly, Thomas Stanley buttressed in his book that for the most prestige brands of cars, about 86% percent are toys of the non-millionaires. While most believe that people with huge fortunes tend to drive exotic cars, in reality the largest consumers of pricey cars are aspiring millionaires.[3]

                  According to findings by Experian Automotive Researchers, 61% of individuals who earn $250,000 or more rarely buy luxury brands. Instead, they buy Hondas, Toyotas, and Fords like the rest of the world. The reason is they are not ready to spend money on premium cars that tend to drop in value in a couple of years as it would cost money. Millionaires invest in assets that appreciate.[4]

                  8. Own or Buy Businesses

                  In Robert Kiyosaki’s cashflow quadrant, he divided how you earn income into four quadrants. The E and the S quadrants take the left position while the B and the I are on the right side. According to Robert, it is possible to be on all quadrants, but the millionaires are not.[5]

                  • E stands for employee – they work for others
                  • S stands for self-employed – they work for themselves
                  • B stands for a Business owner- employees work for them (500 or more employees)
                  • I stand for Investors – Money work for them like Warren Buffet.

                  Your goal is to move from the left quadrant to the right quadrants where you own big businesses or make money work for you.

                  It is possible to become financially successful by pursuing what you love. For instance, if you love writing, aspire to be the best seller. Wealth and passion work together.

                  Check out How to Start a Small Business with Little to No Money for tips.

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                  9. Avoid Get-Rich-Quick Scheme

                  A millionaire holds patience as an essential virtue. It takes patience to become successful, not only in finance but in every aspect of life. While it is possible to become financially successful at an early age, most millionaires hit it at age 50. They live a moderate life, invest in their future and retire rich.

                  Bonus: How to Develop the Millionaire Success Habits?

                  Having learned these habits, the next question is,

                  How can I develop the Millionaire Success habits?

                  Here are six values you will need to develop:

                  Establish Your Life Vision

                  You need to be clear about what you want in life to set yourself for a life of success. Your vision has to go beyond becoming a millionaire to understanding why you want to become one. Any great entrepreneur you will ever find has a clear vision and an established mission.

                  Understanding why you are doing what you do will drive you to become the kind of successful person you want to be.

                  Make Your Passion a Profession

                  When your passion becomes your profession, work becomes pleasurable. Loving what you do enables money to flow to you and through you.

                  So what’s going to be? Wake up every morning by speaking positive words into your work, love what you do, and focus on the work that brings you joy.

                  Take a look at this article and learn how to make it happen: 5 Steps To Turn Your Passion Into A Career

                  Focus on Solution

                  Focusing on the solution means establishing the problem that you or your business address. This will help you focus on the solutions when others are faced with challenges.

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                  A millionaire has a mindset that is fixed on the solution. He or she knows there’s a way out, and that every problem is an opportunity in disguise.

                  Improve your problem solving skills with these tips: 6 Effective Ways to Enhance Your Problem Solving Skills

                  Develop Your Leadership Skills

                  Leadership skills are an asset that is indispensable if you want to develop a millionaire success habit. The more you hone your leadership skills, the more you will attract leaders who share your values.

                  Be Growth-Focused

                  Millionaire entrepreneurs prioritize self-improvement. Here’s how to achieve it:

                  • Get a coach. Coaching will impact your life, and you will achieve peak performance in life and business when you have a life coach.
                  • Be coachable. It is not enough to have a coach; you must be coachable. Sometimes, you need feedback and counsel to reposition your life and business. A coach has the wisdom and experience to counsel you from a higher perspective. The more you receive feedback and work on yourself, the more you become better at what you do and who you are.

                  Flip Your Thought Pattern From Acting To Being

                  It is not enough to have a millionaire success habit, you must also become a person of positive influence. This is how you can become significant. Bill Gates is not only rich; he is changing lives in Africa and different parts of the world.

                  If you want to become successful, you must first be and think like a successful person. This is how resources you need can flow into your life.

                  Here’s a final thought from me:

                  It is not enough to do something to have something; success is about being someone who possesses what is needed to take positive and inspired actions.

                  More Success Habits

                  Featured photo credit: Austin Distel via unsplash.com

                  Reference

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