Do you try to squeeze (or roll?) every bit of toothpaste out of the tube to get the most for your money?

I think most people do this. Waste not, want not.

It’s possibly fair to say that many people put more effort into managing their toothpaste than they do on having a financial plan for their future.

I don’t have an exact calculation, but let’s say we save 10 cents on every tube of toothpaste by putting in the effort to squeeze out the last of the tube (everyone has a different level of squeeze they go to!).

If we use 6 tubes of toothpaste a year, then that saves us a whopping 60 cents a year!

Of course, still squeeze the tube, but when it comes to your money, we can squeeze a lot more out of other areas with minimal effort.

I guarantee you that managing your money well doesn’t have to be something to be scared of and it will be far more rewarding than a little more toothpaste!

How we squeeze tubes of toothpaste might seem like a silly thing to be talking about, but it offers a great insight to how we can manage money.

When working with clients, I look at their financial plan from all angles, turn it upside down, and apply strategies to build wealth and squeeze more dollars out where we can.

This is not about short-changing ourselves, it’s about getting value for money.

Take super, investments and mortgages for example. Many of us put at least some effort into getting value out of our toothpaste and then put zero or minimal effort into getting value for money on much bigger ticket items.

We probably even choose our toothpaste on which tube is on sale when we’re shopping and then invest no time in seeing if we can get a better deal when it comes to managing our life savings.

There are savings of hundreds, often thousands of dollars a year to be had… it makes 60 cents a year in toothpaste savings seem trivial! The larger and more significant savings can add up to hundreds of thousands of dollars in the long term. All with no change to lifestyle now but rewarded with much more lifestyle down the track. This is not about living on baked beans to get ahead; it’s about squeezing the most out of your income for maximum benefit.

While maximising our toothpaste efficiency is great, efficient management of your finances can make a much more substantial impact.  How many opportunities are you missing out on?

Cheers,

Daniel