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Where Money Really Does Grow on Trees
Lauren Chapman
Lauren Chapman
Feb 22, 2010


The first of the five fundamentals and in my opinion, the most important is to focus on the “gap between what you earn and what you spend”. In order to have moneypower you must follow this simple rule. But why does this seem to be so difficult? It could very well be that you are living out of your means and your fixed expenses are more than you can afford.  More likely it could be the fact that you do tend to overspend here and there on unnecessary things.  Here are some ideas to think about when you are going about your everyday routine to help get you started on being conscientious of your spending habits and creating more moneypower.

  1. Don’t make your money so accessible. Take your credit cards, cash, check books and hide them from yourself! If you have the money at hand 24-7 you are going to spend it. It’s so easy to reach for your wallet when you see something and buy it…you think to yourself “It doesn’t cost that much.” We all know that money adds-up but we need to start listening to our inner financial advisor. Now, obviously you don’t want to go day to day with-out gas money but you need to set a limit on the amount you can use daily with-out breaking the bank. Only set aside what you NEED! Here’s and idea, purchase a prepaid money card and each week or two, put a set amount on that card that will provide the necessities. This will limit your funds available and help you stay on your budget.
  2. Examine the things you could cut back on. Do you really need to eat-out every lunch? Is smoking cigarettes worth it? Do I NEED this? Really dig deep and find what habits are preventing you from generating more moneypower. We don’t think about these things day-to-day but when it comes down to it your daily cup of coffee from Starbucks could be costing you your cell phone bill. To help identify what that these cost may be, sit down and jot all of the daily expenses your household accumulates and eliminate them!
  3. Limit your feel-good purchases. It’s good to reward yourself every now and then for your hard work. After all, we don’t want to feel like we have worked for nothing. But these times should only occur when we can afford them. You can make due with your same old black shoes until your budget allows you to buy another. If you see something that you feel you absolutely must have, sleep on it….for a couple of weeks. It might not be such a must have then. If you can’t control your spending then don’t go to stores you know you will overspend at.

These are just some basic techniques to get your moneypower ball rolling. Implementing them will surely help you increase that gap between what you earn and what you spend.

Photo Credit: Serge Melki

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Posted Under: Ways to Save

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