3 MINUTE READ.There’s one really easy way to do it that you may not have paid enough attention to…

There’s one really easy way to do it that you may not have paid enough attention to… pay less for the things you pay for.

If you can do this, you’ll be creating savings with no loss in lifestyle at all! Whereas budgeting usually relates to spending less by buying less, if you can buy the same things at a lower cost then you win.

For many people we educate, it’s this ability to reduce costs that then frees up money to save. Once savings start to happen, investing is easy. Investing in ridiculously low cost investments then gets those savings growing and that’s how you create wealth.

In general, people are paying less and less attention to how much they are paying for things. Part of that is because it’s so easy to not pay attention. We wave a card in front of a machine these days to pay for things as we buy them and many of our bills are automatically charged to our credit or debit card meaning it’s quite rare that we pay cash for anything.

I think it’s an important point to make that you don’t always get better products or services by paying more. In many cases, brands and businesses rely on the illusion of a higher price meaning better quality, when the reality is that competition drives other businesses to create offerings of the same or better quality and then offer them at lower prices.

Therefore, it’s worth investing a little time each month to making sure you’re getting a good deal on things you pay for. Don’t try and do everything all at once as that’s overwhelming and you’ll give up. Prioritise and ear mark a couple of things each month that you’ll review and then make it a habit. For example, this month you might review your mortgage and your power bills, next month insurances, the following month bank fees. Keep a record of it on your computer or a notebook and then just keep going.

Get a better return on every dollar you earn by controlling the things you can control. There are plenty of things we can’t control but who you choose to pay your money to for the things you buy is one thing within your power.

So, do yourself a favour and start to really pay attention to how much you’re paying for EVERYTHING, big and small. Saving money where you can makes savings easier and that can only make it easier to achieve your goals in the future.

It is true that you have to spend money to make money, but it’s how you spend that money that will determine the size of the pie you have at the end.

Imagine how that pie will look and taste if you’re getting great value for money on the things you pay for, if you’re saving regularly, if your debt is under control, if you’re super is working incredibly hard for you and you have low-cost, high returning investments growing for your future.

So, if your pie is missing any of these ingredients, get in touch so we can train you in ways to create wealth. Easy!

Daniel