Whatcha know about that? Fellow blogger Anne wrote a little on it the other day, and it really hit me – Live like you’re broke! Yes, nice & simple, I dig it. I’ll probably forget this by next month (you know, A.D.D. and all), but for now let’s roll with it ;)
If you were really broke, here’s what would happen:
- First, you would still live! It would be harder, but it’s not like you’d die.
- You’d cut out spending. Because you “can’t” spend – you’re broke.
- You’d save as much money as possible. You might have to turn around and pay the bills with it all, but you’d still be saving better.
- You’d get creative! Probably the best reason to get in this mindset.
I think we all “live like we’re broke” to some degree, it just comes down to the amount you’re willing to give up (unless, of course you *are* broke, in which case you’ve probably perfected it!). I’m sure I could cut out 1/2 of the things I do now to save some cash, but it’s just not worth it. On the other hand, there are plenty of things I COULD cut (and would cut) if I were indeed broke. Regardless, it’s always good to stop and consider the way you do things. Do that enough, and you’re bound to stay focused!
PS: Some of my favorite tools:
|Personal Capital (FREE) -- If you’re looking for a robust financial tracker, Personal Capital is the way to go! They’re like Mint, but on steroids and have much better tools for investment and net worth tracking. // Full review|
|Digit (FREE) -- A super easy (and automated) way to save. Every day Digit analyzes your income and expenses and will push money aside for you any time it sees extra sitting there. I've saved over $4,000 myself using them so far! // Full review|
|Acorns -- Having trouble finding money to invest? Check out Acorns – they round up all your transactions to the nearest $1.00 and drops the difference into an investment portfolio for you. Easy way to start investing! // Full review|