Not something you typically hear, is it? You don't hear people complaining that they have too much money left after they've paid all of their other bills, Many don't even have enough to cover their monthly bills, today.
It's so important to watch those pennies.
The other day I was at a convenience store purchasing gas. My purchase was $44.96. I gave the cashier $45.00. I waited. She chuckled as she was handing me my change, almost as if she were uncomfortable handing me a bunch of pennies. "I have to give you your change." "That's fine, I like getting my change back. All those pennies add up." She proceeded to tell me a story of a clerk that worked in the store for over 5 years. She said that so often customers never took the time to get, nor wanted their change back from their purchase. So, he would keep their change. Over a 5 1/2 year period of time he collected nearly $30,000 in pennies, nickels, dimes and quarters, of other people's money!
It really does add up.
When I was little my parents taught me to pay myself first. You pay your your electric bill, water bill, telephone bill, etc. You've got to be sure that you're on that list too, Everytime I got birthday money or Christmas money, I had to save at least 25% of it, so I could pay myself. As an adult the amount that I've paid myself has varied. My teenagers have learned that anytime they get money they need to save at least 50% of it. They better do that now, because I know that when they get out on their own they'll be lucky to save anything at all, in the beginning.
Times are tough for so many people today. If you can't pay yourself, look at the ways that you are wasting money. If you're spending $3 for that gourmet cup of coffee, on your way to work each day that can add up fast. You could be spending $780 a year. WOW!
For 8 years I had a tenant that used to sign the back of his paycheck and hand it to me each month. The check was always several dollars more than the rent. "Hold on, let me get you change. I owe you money back on this." "Forget it, don't worry about it," he'd say. "Well, I'll apply it to next month's rent." "No, it's only a couple of bucks. I don't care." And, often he would complain about not having any money. Every month he tossed away $3 to $5 on rent. At the end of 8 years it amounted to over $450.
If you're not in a position to save any money, look at the ways that you can stretch your dollar farther. It's amazing to find the places where we throw our money away.
Sandy Shores REALTOR®, Melbourne/Palm Bay FL Real Estate
Brevard County, Florida's Space Coast Real Estate & Investing
I specialize in Residential, Investment & Relocations.
We have a team of professionals that can help with your Short Sale.
I buy, sell, rent, own and manage Investment Property
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