Getting rich is easier said than done but it can happen anytime with the right budgeting. It is true that accumulating a lot of money doesn't happen in just a month. But, forget about becoming a millionaire, focus on becoming "financially fit."
Professional Blogger and Freelance Writer Eliza Cross of Denver shares through Daily Finance the concept of "money diet" which she herself has proven effective. The goal of this approach is gaining not losing, unlike food diet.
Cross shares how successful "money diet" can be if done in the right manner. So, here's how to become financially fit.
Strictly no dine out. Groceries only.
Food is our top necessity in order to be healthy. Yet, we can be healthy even in the comforts of our own kitchen. If we want to adhere to our "money diet," we need to eat food strictly from what's inside our fridge. We can cook and make our own healthy recipe out of the veggies and meat we bought from the grocery stores. In fact, cooking at home is cheaper especially if we have a big household. However, if you are alone in the house, you may consider calculating your expenses when you cook and compare it with the amount you pay when you eat at restaurants. Surely, it's way different.
Save your coins.
This may sound old-fashioned, not to mention putting it in a personalized piggy bank. Most of what you can place on it could be the change you got from your groceries or fare. CFP professional and principal at Turning Pointe Wealth Management in Phoenix, Keith Klein, suggests looking for more ways on how to put coins to your piggy bank and putting 10 percent of what you withdraw from your ATM into your piggy bank can help. You can add this accumulated amount into your savings account, Bank Rate suggests. Really, keeping the change and saving your coins can help you succeed in your "money diet" program.
Don't shop just anywhere but home.
Daily Finance reveals going out while getting into "money diet" can only make you feel more deprived if the urge to spend is high. So, DF suggests you better stay home and shop there instead. Cross says there may be a lot of things we never use at home which we hoard in our garages, pantries, closets, medicine cabinets, among others, and shopping there could be the best time to start using them. Chief Marketing Officer at Conestoga Bank in Philadelphia, Holly Wolf of Chester Springs, Pennsylvania, believes that shopping at home contributes to a frugal lifestyle. As a matter of fact, shopping at home will help you get to know your home better.
