Are you an employee? Do you like your job? Do you like your coworkers? Are you happy with your salary? Are you worth more?

If you make enough to provide for your family but your spending habit prevents you to make ends meet, you need to cut down on your expenses

Cut down on your expenses

Pay off your debts as quickly as possible so that you can put your money to work. In our family, when we decided to live on one income and use the other to pay off our debts, we decided to stop buying gift to each other. We don’t need it. Currently, our monthly expenses represent 41.80% of our monthly income of about 5,000. Our expenses include living expenses of $900, minimum mortgage of $936, and minimum credit card (debts due to a scam) payment of $254. The remaining 59% of our income is applied toward our credit card extra payment (9%), and additional mortgage principal (50%).

We stopped giving gift to adults family members. They don’t need it.

I don’t go to Black Friday shopping.

I don’t buy gifts to the kids for Christmas and birthday. We give them money and they save it until I invest it in their brokerage accounts.  Earlier this year Walmart heavily marked down toys and I purchased toys and games for over $400. They would have cost me well over $1,000 at their original prices. The last time I purchased a lot of toys was about 10 years ago when I was pregnant of my first child. All my 3 kids used the same toys. I recently decluttered their toys and didn’t hesitate spending that much money on new toys aged appropriate for them.

We don’t travel. We prefer to pay our debts first.

We recently changed cellphone carrier from Verizon to Tello a smaller carrier that uses Sprint towers. Verizon is great but expensive. We paid $105 for 3 phones at Verizon and now we pay less than $20 a month with Tello. At tello I have 300 minutes, free text messages, and no data for $7 or $8.57 a month tax included. My husband has similar plan with 1 data for about $8.60 with tax. We pay for internet at home. We don’t need a lot of data on phone. Additionally, many places have free Wi-Fi access. Therefore, you don’t need to pay a lot toward your phone. If you are looking at ways to cut your expenses and want to cut your phone cost you can check tello. You select to customize your plan. Don’t go with their selection. They might display their high plan options. Navigate through their website and choose your own plan. If you have a question, please just ask me. I would put their link below as well as some of their features.  One thing I noticed is when I talk on the phone, the other caller’s voice seems distant. But when I talk with someone that has Sprint plan, the line is clear. I purchased a refurbished phone from them and I would not recommend it. My husband found the same brand cheaper online. He purchased a smart phone from Walmart a phone from Boost which is another Sprint carrier and used it for Tello. Unless you have a phone that is Sprint’s, you might have to replace it if you choose Tello. You can check their website to see if your phone can work with them. It is not the best carrier but we decreased our expenses by $90 every month which is more than $1,000 a year. We have been with Verizon for more than 10 years. You do the math. Another thing we cut is cable. Cable and internet cost us $180 a month. We kept the internet and cancelled cable. The bill went down to $70 a month. That is a saving of $110 a month. We watch free you tube on tv and my husband plans to get Hulu for $8. We had cable for 7 years. We paid about $2,160 a year at $180 a month. That was $15,120 for 7 years. Our previous phone plan described above cost us $1,320 a year or $13,200 for 10 years. That totaled to $28,320 spent on these things.  $28,000 could be a down payment for a rental real estate that would generate cash flow every month.

https://ninasoap.com/personal-finances/

Don’t be entitled to your salary. Be grateful and learn to make the most out of it

I am worth more. But I don’t feel entitled to my salary. I appreciate every raise I get. I like my job and my coworkers. Leaving my job for a higher pay one might, come with another set of stress. Therefore, I just decided to go into business for myself and run it on the side until it starts generating more cash flows. Having my own business and creating multiple streams of income are the best ways for me to stop trading my time for money. When you trade you time which is limited for money, you limit the amount of money you can make.

Stop spending all your paycheck every month and trim your expenses to live well below your means. That way you would free more of your income to pay off your debts and start investing in cash flow producing assets.

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Tello wireless plans

Other features:

  1. Tello Mobile phone plans are fully customizable. Data only plans for tablets are also available.
  2. Tello customers can upgrade or downgrade their plan for free, anytime. There is no contract and there are no fees: no overage fee, no administration fee, no activation fee and not even port out fees.
  3. Tello works on mobile devices compatible with the Sprint network.
    Customers can check compatibility and bring their own device or buy one of the phones we have in stock. Shipping is free.
  4. All plans include free tethering (hotspot) up to the plan data capacity. Once allotted data runs out, 2G data continues to be available.
  5. Tello services are available nationwide in the USA. Customers join online via tello.com.
  6. Calls from USA to Canada, China and Mexico are included in all voice plans, at the same rate as domestic calls.
    Adding pay as you go credit to any plan enables economical calls to any international destination.

 

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