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Jeffrey Strain's Six Moves to Save Thousands!

Written by: on 21st August 2009 |
Jeffrey Strain's Six Moves to Save Thousands!  | read this item

An interesting article was posted in Yahoo! Finance and it’s about saving. Articles about personal finance is always interesting and a must-read for frugal people out there. Here are 6 moves to makes thousands of dollars by Jeffrey Strain.

First of all is to Trash Your TV. He said that the average American watches more than 30 hours of TV a week. Getting rid of his TV helped him find the time to become a freelance writer. The same idea applies to video games and Web surfing.

The second move is to Get Organized. He shares that he had far too much junk in his house a few years back. The closets and storage areas were full of stuff he hadn’t used for years. He needed more space and buying a bigger house wasn’t an option.

He made a simple rule: For every new item he bought, five had to go. Eventually, he lowered the number to two. Some went to charity or in the trash. He sold others on eBay and Craigslist. In the process, he became more selective about my purchases and made a decent amount of money selling stuff he didn’t need.

Now that’s a great way to save isn’t it?

The third move is to Start a Part-Time Business. Many people aspire to be part of a profession that’s outside of their current field. For most people, the only way to get that job is to create it yourself. He started writing on the side while working full-time in a different job. Eventually, his writing became the primary source of his income. If there’s something you enjoy doing that could be turned into a business, there’s no harm in giving it a try.

The fourth big move is to Anticipate Big Purchases! Saving used to be a struggle for him, particularly for large items, such as washers and dryers. He used them without thinking that one day he would need to replace them if they broke down.

Number 5 is Take a Tax Class. When he first got out of college, he tried to do my taxes himself. Dealing with income forms from three states proved too frustrating, so he went to an expert. A friend suggested he should take a basic tax class to get a better handle on his filings. It was one of the best decisions he ever made.

So you should take you’re own Tax Class as well. Just like Jeffrey Strain!

The last move that you should do and is extremely important is to Drop a Habit. It’s not just bad habits, like smoking, that cost you a ton of money; everyday expenses that seem marginal can also cut into your budget. For example, he was able to wean himself off soda and sports drinks, a habit that cost $1,000 a year. Drinking tap water has been good for his wallet and his health.

Dropping a habit is really a hard move for most of us, but for sure, it’s really worth it.

So why not try what Jeffrey Strain did and follow his 6 moves? This will surely save you thousands!

[Via Yahoo! Finance]

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  1. robert basco says:

    Thanks for sharing this awesome tip jehzlau!