How I Save All My Money

Many people live paycheck to paycheck, unable to manage their money. Here is how I basically save all my money since I barely spend it.

Money is something we all need to survive in the world we live in. Low income families struggle, while wealthy ones can have it all and dictate what everyone else should do. However, money does’t buy happiness. Sure, not having enough to pay for basic expenses will bring anyone down, but having all the money in the world won’t automatically make you happy. It’s the pursuit for money that will drive our actions, even to the point of chaos and war.

Stacking gold coins and money bag
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I am going to share with you how I save practically all my money and barely spend it on anything unless absolutely necessary for survival. If you would like more information, be sure to check out my in-depth “Keys to Financial Freedom Course” that will go much much deeper into what you can do to save and maximize your money.

The first thing is my mindset. If you have the mindset that money is for spending, then you will be broke your entire life since no amount of money you make will ever be enough since you’ll spend it all, living paycheck to paycheck. Rather, my philosophy is that money is for saving. If I make $100, my mind instantly thinks how I can double that. We’re not talking about gambling it away and leaving with nothing. But rather, putting it away so it grows, whether that be through investing in stocks, bonds, ETFs, funds, cryptocurrency, or investing in hardware, software, or a service that will help me generate more money. Spending that money on frivolous thing such as video and audio subscription services, new clothing and jewelry, and other things I simply do not need, when I will make $0 in return from that investment is not at the top of my priorities. Rather, I may put that $100 into my long-term stock portfolio where over the course of the next several years could double. Or maybe I’ll spend it on things that will make me more money, such as upgrades to my website, videos, and so on. A dollar wasted is a dollar down the drain that you cannot get back.

On the topic of investing, it’s important to do this regularly. Set aside some money each month, even if it’s just a few dollars, and invest for the long-term. I’ve been doing this for several years and have practically doubled my money. The two main platforms I have used are Webull and M1 Finance. Webull is an advanced trading platform for short-term trading and long-term investing. They offer standard brokerage accounts and retirement accounts. They also have a smart robo-advisor that will automatically invest your money into your choice of conservative or aggressive funds. Or you could build your own portfolio using their Wefolio, allocating percentages to what you want to buy. If you use my affiliate link, we both will get free shares of stocks. Similarly, M1 finance offers a pie based approach to investing, allowing you to allocate percentages to what you want to invest in. If you use my referral link, we both could get up to $75 to invest. The link goes directly to my personal portfolio so you can see what I’m invested in. Be advised that their services may not be entirely free at the time I’m making this. Whatever platform you choose, small amounts add up over time, and with the incentive to get free stocks and/or $75 to kickstart your investing journey, then this is not an opportunity you want to pass on.

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The other important thing to note about investing is that you put money in each month and let it be. You don’t constantly look at it, getting worried if it goes down, nor get excited when it goes up. Think long-term, many years from now. The only reason you’d want to remove a company from your portfolio is if bad news comes out about the company and the prospects aren’t looking too great, or it’s underperforming the rest of the stocks in your portfolio after many years of being invested. Be mindful that there is a tax penalty for selling if you don’t choose a retirement account.

And lastly, since I don’t spend my money on frivolous things, and mostly spend on items that will make me more money, these can be considered a taxable deduction. Why? Since if it’s part of a business, and considered a business expense, then I can deduct that from my income. For instance, is the purchase of video games tax deductible? Most would say no, unless you’re making money from playing the games you’ve bought. What about clothing purchases? Same thing. If you’re someone who buys tons of clothing and shows them off and reviews them, making money by doing so, then your clothing purchases are tax deductible. This is a purchase that is no longer frivolous, but rather helps you make more money. That’s my mindset. Besides investing, that’s basically the only other thing I spend my money on besides basic needs expenses.

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It’s always good to have a reserve of money, and setting aside some for the long-term is ideal. Live like you make half of the amount you current do. You like that fancy watch, television, or phone? You don’t need it and that money could go towards a brighter future. Follow in my footsteps and save your money, investing for the long-term, and you’ll be grateful you did.

Let me know how this works for you. Have a great day!

Additional Info

I’m always surprised by how much money I have, even during times I barely made anything. I save well and spend very little. What I do spend is on things that make me more money. I see so many others struggling, so this information has to get out there. The problem is that most people cannot manage their money wisely and will probably not be able to follow this plan since they need much deeper psychological help to retrain their mind to be in savings mode and not spending mode.



About the Author

Autumn Asphodel
Autumn Asphodel helps others live a better life through natural means, hard work, and dedication.

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