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Money: An Honest Look At Making More And Spending Less

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In today's contributed post we discuss how you can start making more money and spending less. Let us know what you think in the comments! Enjoy!

On paper balancing the books isn't all that hard. After all, all you need to do is have more money coming in than going out. However, in real life, things can get messy quickly.

In fact, it can be tough to ensure that the financial decisions you make are the most sensible. That is why in the short guide below we take a look at how to spend less and make more.

Make more: monetize your hobby

One of the advantages of monetizing your hobby is that you will use your time to make money, rather than doing things that require you to spend it.

You also get to do things that you enjoy while covering the costs of those and activities and hopefully making some additional cash on the side to add to your overall pot.

Be efficient and make money from something you already spend time doing.

In particular, hobbies that include a certain level of skill such as crafting, singing, or playing an instrument work well. This is because there is always a good supply of people that will pay to learn from your experience in these areas.

Of course, crafting can pay out twice because you can also sell the products you make as well as charge for tuition.

Spend less: monitor your expenses

With so many digital technologies in the home, it has become much easier to monitor the ongoing cost of living expenses such as gas, electricity, and water. What this means is that you can easily keep track of your consumption, and reduce it where necessary. Something that makes it a lot easier to control your overall spending in this area.

Make more: invest your money

Many people approach investment with caution, especially if they have a family to support. However, it is one of the best ways that you can make significant amounts of money without having to take up a second job.

Of course, to be successful in this area, you have to educate yourself about how the investment market works. That means you need to know the difference between each of the markets such as Forex, stocks, commodities, and cryptocurrencies. You also need to know as much as you can about each individual investment that you choose to make.

Something that you can do by checking reviews like this one on CMG that covers all the vital information such as candlesticks and indicators. Such information sites also help by giving some precise history about the stocks you are considering to assist you in your decision making.  

Yes, investing is about risk. However by doing as much research as possible and knowing your market and product you can minimize the element of chance and maximize the possibility of a decent return on your money.

Spend less: don’t fall for the hype

If we were truly honest, we would realize that the whole of the capitalist system is built on making us desire through advertising, things that are not actually essential to our survival or well being.

That means that an essential part of spending less is learning to assess the true need of what we buy before we buy it. Something that can be done if we resist impulse buys more and use an evaluation process before here before we make any purchase.

  • Marc says:

    Hi David,
    Thanks for the article. Monetizing a hobby is a great idea. I’ve been fortunate enough to do that with a few hobbies over the years (web design and photography).

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