Tag Archives: penniless

Trick Yourself into Saving More Money

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While you may not have gotten a raise, you can still save more money if you introduce smart saving habits into your daily lifestyle. Being able to save really just means you take a closer look at the ways you manage and spend your money, then find avenues for putting cash away. Creating rules to follow and developing smart habits will change the way you think about your cash flow, and can be a great way to trick yourself into saving more money.

Use Cash

Striving to use only cash will cause you to force yourself to pay closer attention to how much money you really spend every time you go out, to the grocery store or clothes shopping. The trick is to put your plastic away so you feel like you don’t even have it to use. You may also want to consider removing your credit cards from easy pay and 1-Click settings from your online accounts to make it harder to make purchases. You might be surprised at how much less you want an item you see online when the added difficulty of typing in your 16-digit credit card number is in your way.

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Check Your Credit Card Statement Every Month

Your credit usage may have run away from you because you are like the thousands of other people who do not check their credit card statement every month. Looking at how much money you spend and the places you spend it is a good way to make yourself think about your choices in a more deliberate manner. Seeing that you spent $80 at the bar instead of the $40 you planned may shock you into being a little more careful next weekend, or realizing you spend half of your paycheck on new threads may encourage you to create a budget for your wardrobe.

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Good Things Come to Those Who Wait

Attorney Leslie Tayne who writes for Fox Businesses advises you wait five days before making a big purchase. While that hot tub sale is enticing, give yourself five days to ponder whether a hot tub purchase is really in line with saving for your kids’ college tuition. Thinking about what you want to buy is a great way to prevent yourself from spending too lavishly on items you don’t need. A bonus benefit of waiting to buy something is that it gives you a chance to find a better deal, whether you look online or in competitors’ stores.

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Ignore Extra Income

Even though your surprise income may look like it has “jet-ski” written all over it, try instead to imagine it saying “Save me!” and put it away into an account you don’t use immediately. Tayne advises that you only rely on the money you make regularly to make big purchases. That means you should take that big fat tax refund or even the $10 you found in the parking lot and put it toward debt or into a savings account. Extra income is anything outside of the realm of your weekly or monthly income, including cash you make from selling your unneeded wares, (like diamonds that you sell with us!) By putting that extra cash away, you’ll never be tempted to dump it down the drain on something you don’t need. The unexpected kind of money is best spent by not spending it at all.

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Automate Everything

Investopedia advises against taking care of your financial business on a day-by-day basis. Instead, get your employer to deposit portions of your paycheck not only into your checking account, but into your savings account and IRA as well. In addition, set up your credit cards to pay off the balance each month, not just the minimum. A penny paid off is a penny and a half earned in the credit world, because each time your balance equals zero, that means you don’t have to pay annoying off bank fees later in life.

Saving money is really just about changing the way you look at money. If you don’t let it burn a hole in your pocket and instead let it burn a hole in your debt or build your savings, you’ll be on your way to securing a bright financial future in no time.

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How to Tell if You’re Broke

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So you’re cruising down the street in your hot new ride, checking out chicks in your designer shades and stylish vintage T.  You feel like king of the world.  Then, you catch your reflection in a chic boutique’s window: in actuality, you’re on your kid sister’s Razor scooter, your (plastic) sunglasses were won at a carnival, your t-shit is your own from 8th grade and has permanent pit stains and more holes than a colander.  Also, that ‘boutique’ is a dollar store.  You pause…a disturbing thought passes through your brain, “Am I…broke?”

Here’s how to tell:

You’re on a date, and you really want to impress this person – so you take the liberty of “Supersizing” their dinner.

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You make sure your checkbook is balanced by not signing a single check that you mail out.

You’ve decided to ‘continue your education’ by collecting every Snapple bottle you can get your hands on and committing to memory the scintillating “Snapple Facts” therein.

You’re always on time for work – because your old boss pities you and still allots you one pod from the Keurig each morning, despite the fact that you were laid off 8 months ago.

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You help the environment by recycling, as your income is solely based on tin cans you collect.  Also, you do not ever waste water: you never wash your clothes.

Instead of online dating, you prefer meeting people in person, especially because your neighbor changed their WiFi password and now you can’t get online.

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You are not impacted by credit card debt stress in the slightest – because your credit rating it is so bad at this point, the numbers of what you owe have simply lost all meaning (looking at your statement, you’re essentially a schnauzer trying to decode a Fibonacci sequence).

You never ‘spoil’ for your friends things that are happening on Games of Thrones – because your TV has a raccoon living in it.

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You spend quality time with your grandma, and then pillage her medicine cabinet for pharmaceuticals to sell to derelicts in various alleys (relax, her doctor over-prescribes anyway).

For a late day pick me up you hang around the Starbucks in the train station at evening rush hour.  Every once in a while you notice someone who is waiting for their beverage frantically up and leaves, trying to make their train – when their drink is finally placed on the counter, you covertly snatch it up and sip it with hidden glee.

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In order to reduce pollution and excess traffic, you routinely take public transportation, such as the bus, also you routinely sleep there.

You give back to the community by playing softball with the neighborhood kids – then you hit them repeatedly until they cough up their lunch money.

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If any of these things sound familiar, Magic 8 Ball says: you are indeed broke as a joke.  Fret not, though, gentle blog reader!  There are quite a few ways to become un-broke(n).  Getting your doctorate?  Nah, will take way too long, plus apparently college costs a lot of money.  Lemonade stand?  Nope – the market price of lemons is currently way too high, will kill your profit margins.  Sell you blood?  Sorry, there’s just not enough plasma in you to pay the rent.  So what’s an easy, efficient and highly profitable solution?  Sell your diamonds.  If you have diamond jewelry, now is the time to cash it in.  Diamond Lighthouse will find you the best price for your diamonds, every time.  Soon you’ll be rolling in so much dough, you’ll be able to cruise around the neighborhood in your very own Razor scooter.

Become un-broke NOW!

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-Joe Leone