A Money Saving Exercise

There is a simple money-saving exercise that everyone should do at least once in their lives. It is ultimately one of the best ways to save money because it is not about penny pinching, but to discover what you really want and get it. It's so simple, but you may hesitate to try it. Here it is: 

List everything you have spent money on, is currently spending money on, or maybe spend money on. 

Do not just read this and think about a few things. Take time to actually write it all down. Review your bank statements if you need to remember and include everything. 

Now go through the list and carefully consider each element. Take the most time on the big items - past, present and future opportunities. If your timeshare on the beach is worth half what you paid for, costing $ 1,000 a year in expenses, and are rarely, you learn from it - not to punish yourself, but to have a richer life. 

If you think honestly about the number of times you will use this Recreational Vehicle and the cost may be $ 250 for each day of use. It's okay if it is worth it for you but maybe you really will enjoy $ 100 more hotels. Or maybe you can rent an RV for less total cost, thus freeing up money for other important goals. 

You see, saving money is not about victims. We are all aware Scrooges in life, to pinch their ear, bank savings, and then do something with it. The point would be to save money in one area of life so that you can use it in ways that make your life richer. 

Imagine that feel that you are using $ 16 per month in subscriptions to the magazine you read, or insurance for a motorcycle you almost never ride? Cancel subscriptions or sell 

motorcycle, and what have you lost? Is it a big deal? What will this $ 8 you get instead? 

- Bank it for ten years and spend $ 2,400 to take a second honeymoon. 

- Use it to pay for a day or two off work once a year, to spend with children. 

- Invest it, to have an extra $ 100 per month during your retirement. 

- Buy a dozen good books a year to learn something new. 

- Making banana splits for the family twice a month. 

- Give $ 200 per year to a worthy cause. 

$ 16 per month can make a lot if used wisely. Imagine what you could do if you stopped wasting $ 200 per month. That is why it is so important to discover what you really want - and what you do not want. This is one of the most intelligent ways to save money.