9 responses

  1. Debt Vigilante
    August 9, 2010

    I have been practicing all 5 techniques that you listed for a long while and I must say – they work. They are simple, but very effective. I was surprised at how fast the savings piled up just by making a few little tweaks in how I handled my finances.

    Reply

    • Kevin
      August 10, 2010

      Yea it’s amazing how a few simple techniques can change a lot.

      Reply

  2. Suba @ Wealth Informatics
    August 9, 2010

    Except 3 (which means we don’t have that much of 4) I diligently practice the rest of the tips. One can never stress “pay yourself first” enough I guess. I do use credit cards for everything though. I have automated my finances so much so that I only get my “living expenses” in my regular checking account. I have 7 direct deposits (yes my company allows upto 10 :) ) that are taken for different spending goals automatically, Which means, I get only enough for my basic living and I am allowed to spend “all of it”. So credit card works for me, but I can totally see why it might not work for everyone.

    Reply

    • Kevin
      August 10, 2010

      wow that’s a lot of direct deposits. To each their own. That’s a pretty cool system you have set up.

      Reply

  3. Bret @ Hope to Prosper
    August 16, 2010

    Paying yourself first is everything.

    Instead of direct deposit into a savings account, I recommend automatic monthly investments into a mutual fund. It’s just as convenient and it will yield a much better return on your investment.

    Reply

    • Kevin
      August 20, 2010

      That’s a good idea.

      Reply

  4. WellHeeledBlog
    August 28, 2010

    I actually find that I am more conscious of my spending if I use plastic INSTEAD of paper. I take out $60 in cash and then it’s gone – I have very little recollection of what I spent it on. With credit though, I always have a record of my spending, and I am a little more careful with it because I know if I spend too much, I’ll have a big bill at the end of the month.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top
mobile desktop