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True economy consists in always making the income exceed the out-go. Common but useful tips are the following:

1. Wear old clothes a little longer if necessary. If you could mend old clothes then do so. Make sure to maintain your clothes with proper handling and maintenance to prolong their usage.

2. Live on plainer food if need be. Think, we don”t have to always go to restaurants or canteens for good food. There is good food everywhere without a brand name to put additional cost.

3. From the day we were born, we are taught by our parents to save water, electricity, lessen phone usage, etc. This helps in lessening utility bills and add up to our margin income for any unforeseen accidents (I hope not) or other necessities that may come our way.

4. You don”t always have to buy branded products to use for your daily use (same as number 2).

Normally, alternatives are available for use if you look patiently enough. You don”t need an expensive gadget if you are not to use all of its functions. You do not need hi-end brand makeup if you can use a cheaper brand that outputs the same quality.

Believe it or not, there are kitchen ingredients (like honey) that you could use as skin moisturizer. ^_^

…and many more ways! Saving money, placed on interest, goes on accumulating, and in this way the desired result is attained. This requires a lot of training and discipline but the results are worth it.

Here is a method recommended to monitor your spending: When you find that you have no surplus at the end of the year, and yet have a good income, it is advisable for you to take a few sheets of paper and form them into a book and mark down every item of expenditure. Post it every day or week in two columns, one headed “necessaries” or even “comforts”, and the other headed “luxuries”, and you will find that the latter column will be double, treble, and frequently ten times greater than the former.

In truth, the real comforts of life cost but a small portion of what most of us can earn. But as our times advance with technology and our social norms greatly affected with what the media showcases as cool and hip, we are often diverted to take those we don”t necessarily need to catch up with trends.

“It is the eyes of others and not our own eyes which ruin us. If all the world were blind except myself I should not care for fine clothes or furniture.” ~ Dr. Franklin

5/31/2011 0 comments Read More

Economy is Money = we are not sure

Those who really desire to attain an independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done. It sounds so easy… But most of us know its otherwise.

The simple equation to earning a suitable income is to spend less than what we earn. Placing the context in real life-situation, we could subtly suggest that for a man earning, let”s say, a $1000 and spends a thousand and fifty each month lives a miserable life whereas a man earning the same amount but spends 950 dollars each month is a happy mortal.

Many of us will say, “We know this is the real world. We know we can”t eat our cake and keep it also”. Yet a lot of experts say that perhaps more cases of failure arise from mistakes on this point than almost any other. The fact is, many people think they understand economy when they really do not.

The true meaning of economy is misapprehended, and a lot of people go through life not properly understanding its principle. Placing another example, let”s say, there are two men who has the same high income range, yet one of them gets something ahead every year while the other falls short. We see there is a difference with the way they handle their money.

There are people who think that true economy consists of cutting down food consumption, wear rags for clothes, or doing all sorts of alternative methods that they may deny themselves sometimes of life”s essentials. The misfortune lies in thinking they are wonderfully economical in saving a dollar here or a dollar there and later on squander in other directions.

Does that sound like a familiar scenario to you?

A female employee brings her own food to her workplace to avoid buying from canteens and nearby restaurants. She is able to save a good enough sum to put into short-term investments to make her money grow. Unfortunately, she is a credit card addict and purchases a lot of clothes, make-ups, gadgets from retail stores and online. In the end, she needs to save more from her next salary to pay her bills because her total expenses exceeds her saved income.

With this usual scenario in mind, what then is True Economy?

5/30/2011 0 comments Read More

What is the common denominator in making money?

We WORK for it.

Where population is becoming a problem on earth, it is not hard to understand that healthy people will not have much difficulty in having money. This does not solely rely on physical attributes but also of good emotional, mental, spiritual health of an individual. These people has set good routines and discipline to organize their lives and achieve their goals.

Yes, GOOD HEALTH is a number one requirement to make money. As an old saying goes. HEALTH IS WEALTH. With so many people living on this earth, job employment is a problem. Even with many vocations open, everything is up for grabs. Therefore, success will rely on an individuals capacity to cope with the competition or have the mindset to observe trends and work his way from that. I remember an old but truthful cliche. There will always be ways to find money.

The problem lies whether an individual will take on the position with the equivalent value provided by the employer. At most times, the salary offered will not be enough for the money seeker, but he will take on the position as the necessity for money will overule any logic. Here relies the individual”s decision whether to grow more with the experience or take on the tasks provided everyday, complacent with the way things are going for him. My dad once told me a story of his high school classmate. This classmate is gay and poor.

He was always teased but he didn”t mind. His goal in life is to finish his studies and uplift his way of life for him and his family. As a student, he worked as a janitor for a salon and learned the ways of that industry. Seeing his potential, his employer made him a member of his staff. Later on, my dad”s friend got his own set of customers. Working on his new found trade, he worked hard, saved money and later on built his own salon. He worked on marketing strategies, which garnered him a name and now, he has many branches all over his native country. Moral of the story, continuous work, motivation and determination is the key to finding success.

A sound mind and body is needed to keep up with the pace of competition of the modern times. Therefore, the foundation of success in life is good health: that is the ultimate fortune; its also the basis of happiness. A person cannot accumulate a fortune very well when he is sick. He has no ambition; no incentive; no force. Of course, there are those who have bad health and cannot help it: you cannot expect that such persons can accumulate wealth, but there are a great many in poor health who need not be so.

5/28/2011 0 comments Read More