1.02.2007

Saving Money for Hot Spenders

There probably is a phrase out there that states, in some way, that saving money is earning money. I’ts not. Earning money is where you work and new money comes into your hand to reward you for your efforts. Saving money is where you prevent money that you are already in possession of from being thrown away. The easiest way to save money, in my opinion, is to not spend it. But, alas, we all get an itchy credit-card hand once in a while, but you can still save money while spending money. Here are some tips. Don’t get trapped in a fad. People spend hundreds of dollars on the latest collectibles or playing cards, only for them to go out of fad a year later. If you must take part in a fad, think about whether or not you’ll be able to get your money back by doing something like selling it on eBay. Don’t buy thing you know you’ll never use. I remember an Archie comic where Jughead walks in carrying a yacht steering-wheel with his parents saying they don’t even have a yacht. To which Jughead says, “I know, but it was such a bargain!”. Don’t be daunted by the task of looking around for a few hours to find the best deals. You think that it would be better to spend an extra 150 dollars on golf clubs and work overtime for 3 hours instead of looking around for golf clubs for 3 hours and saving 150 dollars? Look at it this way. If you earn 60 dollars an hour working overtime, that means that you’d make 180 dollars in 3 hours, right? Thats 30 dollars more than 150 dollars in 3 hours. But wait! There’s more! Minus taxes that only is about 45 dollars an hour. That makes 135 dollars. 15 dollars less than the saved money. You may have new money in your circulation, but you have taken out more old money then new.

2 comments:

theman said...

by fads, do you mean things like “warhammer” ?

Munnybagz said...

Uhh, leaving all personal thoughts behind, I would have to say yes to that, although, if you’re willing to spend the time there are always tournaments, expos and battles in their stores. But ya, i would have to say yes, even though I collect Warhammer 40k… :-)