Financial Efficiency

Discussion in 'Financial Planning' started by OfTheEarth, Jun 20, 2016.

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  1. OfTheEarth

    OfTheEarth Member
      18/23

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    Does anybody have any tips for how to stretch your dollar a bit farther in general from a survivalist's perspective? What are common ways people sink their money that are entirely unnecessary?
     
  2. remnant

    remnant Expert Member
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    A good way of stretching the dollar is to differentiate between one's needs and wants. The latter is where money is spent unnecessarily. Another tip is to avoid overreliance on processed foods which is addictive and one should substitute this with low glycaemic index foods which make somebody to feel fuller for a longer period of time.
     
  3. lonewolf

    lonewolf Moderator Staff Member
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    only buy what you need not what you want.
    eating at home is always cheaper(and healthier) than eating out. if you can buy your food in bulk its usually cheaper in the long run.
    do you really need that new mobile phone or other gadget every time they bring out a new model?
    cut down and cut out buying stuff on credit, pay off your credit card debts-whilst you are servicing that debt by paying a bit each month you are losing money which could go towards your "preps".
     
  4. texsun54

    texsun54 Member
      23/29

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    If it sounds too good to be true, then it probably is. That is the general rule I follow. A good return on an investment requires work and effort whether it is leg work or much research.
     
  5. overcast

    overcast Member
      23/29

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    I think reducing the needs and depending on the essential is the way to go. I have seen many people having financial issues because they are stretching their requirements. And that is one way you'd always keep chasing money. So the best approach here is to go with the financial control. You'd find that mindset change can make you more proactive as far as the money is concerned. So one can definitely be efficient with the money.
     
  6. Scarlet

    Scarlet Member
      23/29

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    It's true that prioritizing our wants and needs is the key but first avoid temptation to buy things you don't need. When you look on sale, you thought you are saving but in reality it's just a temptation of buying what you really don't need. I read an article online before saying that in a grocery store, they usually put items on sale and place it where most buyers can see it so it would be tempting to the eye to buy.
     
  7. streettallest

    streettallest New Member
      6/29

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    hahaha...money issue is a serious issue. thats why we must learn it and transmit it to our upcoming generation. like the @op said thing we spend money on that does not bring in returns on investment should be avoided totally. some of such examples are smoking, alcohol intake, impulse spending etc.
     
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