Having more money

By | March 13, 2013
As a child, I never had a regular allowance for pocket money but I always seemed to have enough. The secret to this was simple. I put money into my savings hoard and didn’t take out much. Saving money seemed to come naturally to me. I guess it was not surprising that I went on to get an MBA in finance and got into a banking career.

The first step to having more money is saving what you’ve got. However saving money is a corollary to not spending money. It won’t help you much if you sweep a certain amount of your earnings into a savings account and then spend it all. Saving money has to be inculcated as a habit.

One extremely simple way to save money is to make your own lunch. Everytime you get a sandwich and a soda packed from home you save about $7. Multiply that by 20 days and you save yourself $140 a month or $1,680 a year.

I always get my own lunch. Sometimes its a sandwich, sometimes its a hot meal (that can be heated in the microwave). Also I don’t drink sodas except very occasionally. Not only do I know what I’m eating, its healthy, delicious and I save money.