Attaining wealth isn't always about how much money you make. Often, it's about how much money you save through your lifestyle choices. There's a saying that goes, "it takes money to make money." With that in mind, saving up enough money so that you are able to put that money to work is highly important.
To help you start saving more of the money you earn, here are five ways that a minimalist lifestyle can put money into your pocket:
1. Purchase things that have real value.
Most items we purchase begin to decrease in value the second we assume ownership of them. Cars, clothes, electronics and more are immediately worth less than we paid for them as soon as the transaction takes place, and their value almost always continues to decrease for the duration that we own them.
While many of these items are necessary, it's important to purchase things that have real value when you can. These things include purchases such as real estate, stocks and bonds, commodities and other such investments that retain or even increase their value over time.
While many of these items are necessary, it's important to purchase things that have real value when you can. These things include purchases such as real estate, stocks and bonds, commodities and other such investments that retain or even increase their value over time.
2. Don't buy the latest and greatest.
Too many people fall into the trap of upgrading the items they own at every chance they get. They buy new cars when their old ones are still running fine and new phones when their old ones are barely even a year old.
The companies selling these products count on customers upgrading to the latest and greatest, and their entire marketing strategy depends on convincing customers they need to do so. The truth is that constantly upgrading the products you own is a waste of money and guarantees that you will only be momentarily satisfied with your purchase. Learn to use and enjoy a product for its full life cycle and you'll be much better off in the end.
Source:forbes.com
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