Clutter or Cash

Don’t you wish you can swap your clutter for cash?

A lot of people are asking me how to make extra money. However when I tell them that they need to work to make a little extra it is really difficult for them to do anything about it. Later on I realized that its not how much money you make but how much you keep that is valuable. It doesn’t matter if you make a seven figure income in order to make a seven figure expense. Some people might argue as long as I have a six figure income I’ll be okay. Are you so sure about that?

I’m not against hard work but I believe there are different options aside from acting like a hard working machine. Early on in my career, I, like most people started with below minimum wage and I was fairly happy. My career was inclined toward sales and business development so as time progressed, I made more money. My income grew to six figures and I quit that job due to burn out. I move to a career that pays lower but with less stress but the pay is fairly high compared to a lot of folks my age. However despite my high income I wasn’t really happy with how much I make and often neck deep in debt  and usually living from paycheck to paycheck. Then I saw that things aren’t going to change unless I changed my spending habits. When I decided to adapt minimalist principles in my life and decided to eliminate the non essentials weighing me down.

Here’s a list of things I stopped doing to keep my cash

  1. Stopped eating out- This is where most of my money goes. I always worked in a place close to malls so grabbing a bite is fairly easy. Most of the food that’s easy on the budget will make you want to go another round. Annual Savings Php. 78,000
  2. Stopped buying snacks anywhere – My workmates have a habit of buying snacks from a next door 711 store. There’s also one in the condo I stay in. After realizing it I decided to stop this too. Annual Savings Php 18,200
  3. Stopped smoking- The biggest expense and the hardest to quit. Annual savings Php 10,950. Future Medical Bills Prevented= a few Million
  4. Stopped using the Laundry Service. I started doing my own laundry. I do it every 2-3 days ad i just spend about 30 mins to finish. Annual Savings Php 9,600
  5. Stopped commuting daily.  I used to commute to and from the office to my home in Paranaque and I spent about 150 per day Annual Savings Php 54,750
  6. Stopped buying a car- When I realized that everything I need is pretty much walking distance from where I live I figured I would have to ditch this goal.Annual Savings Php 73,000. Cost of Car Php 500,000
  7. Stopped buying books-I used to buy books on a regular basis Annual Savings Php 12,000
  8. Stopped playing games- I used to play network games with my brothers from an internet cafe almost every day. Annual Savings Php 36,500
  9. Stopped watching tv- I get to keep my cash and my time. Annual cable tv savings Php7200. Annual electricity savings 7,200 Cost of buying a decent TV set 5,000
  10. Stopped going to Starbucks- I go to Starbucks for my meetings, to hang out with friends or simply to find a home away from home. I’m a cheapskate back then so I don’t go more than once a day and I only get one drink. Annual savings Php 36,500
  11. Stopped buying Magazines- I used to buy 3 or 3 magazines a month. Annual savings 3,500
  12. Stopped collecting Toys, Scale Model Kits, fiction booksAnnual Savings Php 24,000
  13. Stopped updating phones Annual Savings Php 5,000
  14. Stopped buying gadgets Annual Savings Php 5,000
  15. Stopped Going to concerts Annual Savings Php 12,000
  16. Stopped going to bars Annual Savings Php 24,000
  17. Stopped going to drinking sessions Annual Savings 24,000
  18. Stopped Going to the gym Annual Savings Php 24,000

Total Savings Php 441,400

How to Get started

  1. Stop spending too much-use what you have and do what you can.nuff said.
  2. Use a 30 Day List-hold yourself back from spending by deferring your purchase for 30 Days.
  3. Make sure you need something and really need something before buying. an annoying question to ask yourself and a good test of finding out if an item is really worth buying is to ask yourself if you are willing to use it until you die or are you willing to carry it around with you without replacing it forever?
  4. Focus on people not stuff- people will appreciate you more if you spent more time and attention with them instead of cash.
  5. List your expenses-this includes everything.
  6. Look for things to stop spending on
  7. Eliminate slowly. Start with what you can and look for expenses that you would like to trade for extra cash.
  8. Be Patient and watch the savings grow.

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