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Why Is A Penny Saved A Penny Earned?

Updated on August 29, 2010

How To Save Money - Every Few Extra Dollars Adds Up!

A penny saved is a penny earned is the one truly time honored statement that has held up for hundreds of years and will continue to remain true until the end of time.

Over at my make a few extra dollars blog, I am constantly talking about ways and means in which a person is able to make a few extra dollars by way of the internet, but what I have failed to write about thus far is 'How a person is able to save a few extra dollars'. So that is what I would like to do today!

Saving money can be easy for some people, but for most it is a huge challenge that can potentially cause great amounts of stress. I know how hard it is for some of you to save a few extra dollars because I know how hard it is for me to save. However, it simply just takes time to prioritize and make a list of all the things that you can still live comfortably without. Luxuries, so to speak, things like star bucks coffee, cigarettes, and alcohol to name just a few, but your list should not be limited to just those few. You may like to include other unnecessary purchases like video game cartridges, take away foods, and soft drinks etc.

Anyway, saving a few extra dollars is really not at all hard to do so let me give you an example of my first save money activity. Here goes.....

As you may already be aware, I live in Japan and I commute to work by way of public transport, trains and buses. In the past, everyday upon arriving at the station in the morning I went straight into the star bucks store and bought a take away coffee that I could drink on the train. A take away coffee costs about $5 and I was buying one every morning, 5 or 6 mornings a week. A whopping $25 or $30 dollars per week that I was spending just on coffee!

So here's what I did, I went and spent $30 on a good quality stainless steel thermos and now I simply just make my coffee at home instead of buying it. It stays hot for a good couple of hours, so I don't even have to drink it on the train, I can drink it when I get to work.

As a result of me not buying my coffee at star bucks, I am approximately $1200 dollars a year better off! That's huge, enough to pay for one airfare when I take my family home to Australia in the summer holidays.

There you have it! Saving a few extra dollars is not really all that hard to do. I chose to 'quit' buying my morning coffee. The best part being that I didn't even have to give up coffee to be able to save money. I simply just gave up Brand Name coffee.

So all being said, my challenge to you is to find a new way to save a few extra dollars in your daily lives. You will certainly find that there are some things that you can easily live without and you will have more money in the bank as a result. I know I have!


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