Tuesday, July 24, 2012

7 Money Mantras To Live By

Check out this new article from the Oprah.com website called "The 7 Money Mantras Experts Live By".  Here are seven tips that can help you save hugely over time (click here to read the full article):

Mantra #1:  Manage your finances like you manage your social life.  For example, place bill due dates on your calendar right alongside your social outings.  This serves as a good reminder.

Mantra #2:  Find the bigger "yes."  Set your priorities.  Make spending cuts in areas that matter.

Mantra #3:  You can't out-frugal your way to rich.  "You don't have to eat lobster every night, but you do have to eat."

Mantra #4:  Sober up your spending for free.  Free (general) financial advice is available if you look for it. 

Mantra #5:  Buy more good times than good things.  We typically don't look back and regret the things we didn't purchase.  Look for experiences instead of material things.

Mantra #6:  Don't do anything smart.  If you're feeling jumpy, relax.  Try not to act out of emotion.

Mantra #7:  Wait a day or two... or three.  Before making a purchase, sleep on it.  It will still be available in a day or two and you'll often decide it's something you really don't need. 

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