MORE TIME, MORE MONEY PART 6 - 2022

 MORE TIME, MORE MONEY PART 6

12            Keep meetings to 30 minutes or less.

One of the most common and biggest time-­‐wasters are meetings that could be easily accomplished with a phone call or an email. If possible, beg out of meetings, or if you call the shots, eliminate them if it’s not critically important.

13            Only try to check your email once or twice a day.

Avoid constantly going through your emails all throughout the day. Allocate a time to go through your mail at the start of your day and check back an hour before you leave. If you keep on sending unimportant emails, you are creating major distractions to recipients and affecting the productivity of everyone, including yourself.

14            When at home, turn off your television.

One of the most effective ways to save you both time and money is to watch less television. This gives you more time to take care of more important things or  seek  a  more  rewarding  hobby  instead  of  watching  all  those  guilt-­‐inducing ads.

15            Go over your personal collection and check out which ones you can get rid and sell.

Turn a critical eye and determine if there are duplicates or items that you are

willing to sell. While you are at it, how about considering cutting down the time you spend on your hobby and look for more profitable ventures? It would be great  if  you  have  a  money-­‐making  hobby,  or  earn  doing  something  you  are passionate about. Who knows, this could open up a lot of great opportunities for you.

16            Practice the 30-­day rule when contemplating on making a purchase.

If you are tempted to splurge or treat yourself with a latest gadget wait for 30

days and ask yourself if you really want the item. Often, the urge will pass away and you end up saving yourself a significant amount of money by waiting and not acting on impulse. It is important to train yourself to do away with the trivial and unnecessary purchases and save money on really sound investments.

17            Avoid spending too much on entertaining your children. Instead of caving in to the temptation of buying your child the latest video game or the coolest gadget to hit the market, focus on honing his creativity and appreciate simple and stimulating games. It is important for parents to realize that children do not need fancy gadgets to keep them happy, instead make great memories spending more time with them, making stuff and discovering new things. You will definitely find these alternatives cheaper and more rewarding.

18            Contact your credit card company then ask for a rate reduction.

Choose any of your cards that are carrying a balance and call up the company

number at the back part. Negotiate for an interest reduction or you will contemplate on taking your business elsewhere. If the person you talk to will not be able to accommodate your request, then ask for the supervisor. When you think about it, if you have $5, 000 worth of balance with a 3% reduction rate, you can potentially save $150 every year.

19            Clean out your closet.

Go through your wardrobe and focus on getting rid of some of the stuff. You can organize a yard sale or donate it to get a tax reduction. All the old stuff that are just sitting there can actually put more money into your pocket. Of course, it could also mean freeing up more closet space.

20            Choose term life insurance.

A lot of people believe that insurance is an investment. It is not. Switch to a term insurance instead then you can use the difference of the cost to settle some of your debts or start your savings. Whole and universal policies are significantly more expensive. You are definitely better off getting yourself out of debt instead of spending extra on sub-­‐par investments.

21            When buying a car, go for fuel efficiency and reliability. Instead of going for what’s popular or flashier, choosing a more fuel efficient and reliable car will save you thousands of dollars in the long run. For example, when driving a vehicle for 80, 000 miles, choosing a 25-­‐mile per gallon car over a 15-­‐mile per gallon will translate to 2, 133 gallons of gas. So if a gallon costs $3, that’s an astonishing $ 6, 400 savings right there. In addition, reliability can also pay great dividends, so do your research. Your efforts will pay off for you, big time.