25 Money Saving Tricks Nobody Tells You When You're Young

don't waste time trying to save money in many cases you can use this precious time to earn more money than you're trying to save for example you spend several hours a day commuting to your workplace but it might be more profitable for you to find an apartment closer to your office then you could spend your free time on something more productive like studying or having some more work done once you have some extra cash you can use the opportunity to choose you can keep doing menial tasks or you can pay someone to do it for you and concentrate on higher value projects and then you're likely to end up making much more money in the future try to have a financial cushion that will allow you to lead the same lifestyle for at least several months if you stop getting money the best way is to find some source of passive income for example if you become a property owner you'll get rent every month and you won't have to do anything you can write an ebook then you'll get royalties you can also get passive income after investing in real estate shares or securities rich people rarely spend their money on life coaches they usually have a lot of life experience of their own and they know that to achieve something in life you need to have a goal and enough willpower to reach it if a person isn't ready for hard work no motivational speaker can make them successful that's why most life coaches target people with low income and aren't at the height of their careers those tend to believe that there is a magic pill which can change your life for the better always get your contracts in writing rich people don't just go into business with a handshake deal it's the poor who tend to shy away from signing any agreements it happens either for a lack of legal knowledge or because they don't want to come across as greedy and paranoid but then there's a chance that your partner may remember your deal differently or there might be a misunderstanding you won't be able to clear up all because you don't have the terms in writing the wealthy rarely overspend even if one of them is out there buying a lambo their decision is based on their goal and financial status at the moment a person doesn't become rich because they're great at spending money you need to be good at keeping it try taxing yourself by transferring some money to a separate account unfortunately it's all too easy to dip in your savings once you need or want something really badly but when you pay taxes you don't get your money back and once you start to receive your savings as taxes you won't be able to waste this money so easily anymore rich people first add value to themselves and then to the world they start with improving their own skills and their quality of life this can help you convince others you're worth a hefty paycheck because in return you can add value to their lives you shouldn't focus on saving more money a much better thought is how can i earn more wealthy people understand there's a limit on how much money one can save but there's no limit on how much you can take the wealthy rarely spend a fortune on grooming there are successful business people and billionaires who are known to cut their hair on their own others have their hair treated when they visit developing countries rich people try hard to steer clear of junk food these days the wealthy prefer simple and healthy foods junk food is high in cholesterol and carbs and low in vitamins and minerals that's why eating junk food regularly may lead to unpleasant consequences and rich people know it's often cheaper to prevent a problem than spend a fortune solving it people who have their mind on becoming rich don't rent they buy when you rent an apartment you literally pay someone else's mortgage they do take some financial risk in case some repairs are needed but on the whole the apartment owner both makes money and gains assets well you give them your money and simply occupy their space it's not a great investment sure buying your own property isn't a piece of cake but if you manage to do it you'll be one step closer to getting rich the wealthy don't try to save money when it comes to health they pay high annual fees for concierge medicine to get help anytime they need it and rich people never look for cheaper health care prices or bargains the wealthy avoid getting saddled with late fees it's a waste of money they could otherwise save they automate their payments this way they don't have to deal with high penalty rates wealthy people don't sleep in they have too much on their plate every day and use all the benefits of waking up early one study found out a 44 of rich people get up three hours before their work starts and only three percent of the poor do the same the rich do not just buy new things they invest they pay for costly kitchen appliances not because they like wasting money wealthy people know high quality things usually serve longer and they essentially save money by buying a more expensive thing that's why they think not about the deal they could get but about the cost per use never compare yourself with others social media these days is a powerful tool that can also make you feel lonely unhappy and worthless and this prevents you from concentrating on your own goals rich people prefer to compare themselves to their past selves not to other people it makes them feel accomplished and confident value for money is one of the most important life rules for wealthy people even if they decide to spend millions on a home they bargain like anyone else but some rich people go beyond that and choose to live in modest inexpensive houses or they buy promising real estate while it's still inexpensive and when its price skyrockets they make a good profit almost eighty percent of rich people do physical exercise at least four times a week it's crucial for those who spend most of their time in the office besides keeping you in good shape regular workouts boost your energy and mood you sleep better and become more productive while searching for a job most people pay attention only to the size of their potential salary but others try to figure out what new knowledge they can get in their new position and how useful it can be later sometimes it's better to accept a job offer from a famous company with the lower starting salary this will give you an opportunity to build a career and earn much more money after some time more than 60 percent of rich people listen to audiobooks or podcasts while they commute or have free time the main idea is to make your brain work by feeding it something inspirational or educational rich people know there's no need to buy a pair of jeans that cost one thousand dollars if you can find a high quality alternative that's ten times cheaper the same goes for other purchases the wealthy don't blindly follow the latest fashion trends they don't buy up new collections just because those are popular today this isn't the best money investment but what might be even more important rich people don't feel the need to prove anything to other people you have to overcome your modesty and promote yourself most people think bragging about their accomplishments and skills will drive others away but in business if you want to succeed it's often absolutely necessary to put yourself out there never stop learning people whose goal it is to become successful keep trying to get as much knowledge and experience as possible they understand that learning is a lifelong process and some new information can make all the difference when it comes to remaining poor or making a fortune rich people know their budget and can manage their money they don't overspend if they use a credit card they do everything to avoid paying finance charges by the way only eight percent of wealthy people have more than one bank card and 77 of low-income earners carry several credit cards in their wallets but the more cards you have the more fees you have to pay and the more difficult it is to keep track of your spendings

Channel: BRIGHT SIDE

Views: 142,195

Rating: 4.8962936 out of 5

Keywords: bright side, brightside, save money, saving money, how to save money fast, how to become a millionaire, life hacks, saving up for a car, saving up for an apartment, saving up for a house, where to hide cash, money tricks, secrets of millionaires, rules of millionaires, secret tips, financial tips, how to invest money, financial cushion, savings account, passive source of income, how to save money, how to get rich, how to be rich, financial advice, save in stages

Id: wT7dQ3cm470

Length: 8min 2sec (482 seconds)

Published: Mon Mar 22 2021