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Save Now Without Depriving Yourself

dollar_sign.jpgBigg success is life on your own terms. The five elements of bigg success are money, time, growth, work and play. Today we’ll focus on money.

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When it comes to money, we’re all conscious these days that we have to save more. We saw a great definition of saving the other day by Carolyn Jabs. Her Growing Up Online column appeared in an article in Columbus Parent. She said:

“In its finest form, saving doesn't mean depriving yourself or your family of what you want, much less need. Instead, it means comparing long-term and short-term goals to decide which matter most.”

Bigg trade-offs

When she puts it that way, saving doesn’t sound so bad! We often think of savings as “doing without.” It’s not doing without. It’s deciding on the timing.

Saving, in and of itself, is not a noble act. It’s a means to an end, not the end. It’s about trade-offs – trading now for later or later for now.

If you pay cash for something today, you give up earning money on the money you used for the purchase. Your money will work for you if you save it and invest.

If you buy something and finance it, you’re deferring cash out the door today in exchange for even more cash out the door (since you’ll have to pay interest) in the future.

So, ultimately, it’s a decision about what will make you the happiest – enjoying your money now or stashing it away so you can enjoy it more tomorrow.

It’s living with purpose on purpose – defining your bigg goals and living each day to achieve them.

Your bigg plan

What if you don’t have to sacrifice the present for the future? That’s a bigg idea! Look for ways to enhance your present and your future.

You are the entrepreneur of your life, irrespective of whether or not you own your own business. Your life is your enterprise. You, and only you, are in charge of this enterprise. As the entrepreneur, plan your purchases.

Don’t get caught buying on impulse. It’s a trap that really hits us hard. And we’re not just talking about those insignificant items at the check-out. Marketers are really good at making us think we can’t afford to wait.

For example, think about the ads that promise “No Payments for Two Years.” We translate that, in our minds, as if we’re not spending money for two years. But the reality is, if we don’t have that money already set aside, it’s probably going to give our finances a jolt when the payments kick in … at incredibly high interest rates.

Synergize to ramp up your savings

By planning our purchases, and then sticking to the plan, we’ll only buy those items that we’ve determined make us happiest. We can keep our eyes open for the best deal which saves us money now – money that can go straight to our savings.

If you’ve set aside $2,000 and then only spend $1,500, give yourself a night out on the town in celebration of a job well done. Take the rest and put it into your savings.

By synergizing our savings with our spending, we can save more money for the future because we get the best deal when we buy today. That’s how we get what we want today without depriving ourselves. It’s one thing we can do to propel us to bigg success!

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Thanks so much for checking in with us today. Please join us next time when we’ll talk about the biggest time waster of all. Until then, here’s to your bigg success!

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Direct link to The Bigg Success Show audio file:
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The Deal of Your Lifetime

sale We have an idea for your personal finances. Now if you’re one of our regulars, we may surprise you a little with what we’re about to say …

Go out and spend some money!

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Markets go through cycles. Sometimes it’s a seller’s market. But right now, we’re in a buyer’s market for almost everything!

Now, before you take our advice and rush out the door on a quest for that perfect item, consider these four questions:

  • Do you feel relatively secure in your job or your business?
  • Are you debt-free except for your low-cost mortgage on which you’re current?
  • Are you funding your long-term obligations (e.g. the kids’ college, your retirement)?
  • Do you have a nice stash of cash set aside for emergencies?

If you clear those four hurdles, you’re good to go … to go get the deal of your lifetime.

Spend, baby, spend!

It’s good for the economy, but even more important, it’s good for you. Because we’re seeing deals right now that we will probably never see again in our lifetimes.

Like the car dealer who is offering a two-for-one sale – buy a car and he’ll throw in a second car of equal or lesser value for free! That’s right … free! Did you ever think you’d see anything like that?

Many contractors are starving for work. It’s a great time to remodel your home – get those improvements done you’ve been putting off, add that room, remodel that bathroom or kitchen.

While we normally don’t suggest building a new home, for financial reasons as well as the emotional strain it can put on a relationship, it’s a fantastic time to think about having that dream house built.

And let’s not leave out businesses. Vendors in so many product lines just want some business. It’s a great time to expand or upgrade your business.

The paradox

Here’s the irony in our current situation – spenders are faced with great deals, but they often can’t clear the hurdles above. So they can’t spend!

Many savers have seen the value of their investments fall back ten years. So perhaps the lesson – live a little now, too! It will go against your grain to go out and shop. But look at it this way – you’re saving money because, by doing it now, when suppliers across the board need the money – you’ll get the deal of your lifetime! 

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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Thanks so much for reading our post today. Join us next time when we diss on Plan B. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00346-030909.mp3

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(Image in today's post by djayo)