How To Have More Money

With very few exceptions, most of us would find having more money to be a very handy thing. Invariably, when most of us consider this area, we usually start to look at ways to generate more income when in actual fact it’s probably much easier to look at our outgoing expenses.

During the course of the average working life it is extremely easy to build up monthly and daily expenses and it’s only when you sit down and look at what you’re spending closely that you realize that quite a few of those things are not necessary. The other thing is, that not alone will some of these things be unnecessary but we won’t miss them at all by not having them.

Here are just a few examples:

Cable television is great. I really enjoy it but the truth of the matter is that there is a good chance that you don’t actually need all of the channels that you’re subscribed to. So, take a look at your cable bill and see if you really need all of the channels that you’re currently paying for.

Credit cards. Credit cards are one of the most extreme forms of credit in two respects. First of all, it’s almost the easiest and quickest way to get money and it’s also one of the most expensive ways of financing anything. The interest rates on credit cards are among the highest of any form of personal finance. One of the quickest ways to get into debt is to run up your credit card bills and then only pay off the minimum. You should really be trying to pay off the full amount or something very close to it each and every month.

If you already find yourself in this position and you’re wondering how it might be possible to reduce what you already owe, this is where debt consolidation would come in and I would suggest that you would consolidate all of your existing credit card debt. Get a loan for the whole amount because this will be far far cheaper in the long run and the interest rate you’ll finish up paying on the amount will be probably somewhere in the region of less than half what you would pay if you just continued to reduce your bills by the minimum each month with your existing credit card companies.

After that, what you can do is take a look at your existing cards and decide which one gives you gives the best rate of interest for your new regime. We’re going to pay off the debt every month and just stick with that. I know you’re very fond of your credit cards and you’re probably not in any hurry to take a scissors to them but if you want to cut down that short-term high interest rate debt that you’re drowning in, this is one of the single most effective ways to do it.

Branded items. When you go to the supermarket you will usually find that there are the higher-priced branded examples of different items and there are also supermarket own brand alternatives. I’m not suggesting that you should now just buy everything in the supermarket’s brand but at the same time there are some every day commodities that you could look at and this could very easily help to cut your grocery bill quite significantly.

These are just a few examples and by now you should be able to see where I’m going with this. Basically, rather than racking your brains trying to come up with new ideas to earn money and generate more income, the easiest way to have more money is to just take back some of what’s already yours from places where you’re currently spending it unnecessarily. I’m not suggesting that you turn into a hermit and completely destroy your lifestyle to try to achieve this but if you’re sensible and you look at this area you should be able to find fairly significant savings that can be made.