39 Money Saving Tips From Business Tycoons
LET’S TALK ABOUT TIPS
Money Saving Tips from Donald Trump:
(Don’t tell me you don’t know who he is!) When it comes to the art of the deal, nobody is as famous as real-estate the tycoon Donald Trump.
1. If you’re just starting out, Donald advises reading the Wall Street Journal or The New York Times to find the companies or people that have excelled in funds. After you’ve found people you trust, invest in funds. (Got to start learning now!)
2. Always sign your own checks (Or simply pay in cash). You want people to know you’re watching over your money.
3. Negotiate deals. (Very important, don’t be shy!)
4. Work hard for every penny. Fight for the pennies and the dollars will come.
5. Don’t borrow too much. (Or don’t borrow at all.)
6. Watch the credit cards. Usually, their interest rates are too high. (They’ll eat you alive!)
7. Invest in what YOU know. (Don’t push your luck!)
8. Children should get involved in learning about money by reading business magazines and newspapers. They can absorb more through osmosis than you think they can.
9. Money myth: You can borrow endlessly and pay endless amounts of interest. This is false! Borrow as little as possible and fight hard to get the lowest interest rate possible!
Money Saving Tips from Robert Kiyosaki
Robert Kiyosaki’s best-selling book, Rich Dad Poor Dad, teaches people financial intelligence, getting out of the rat race, and to be millionaires.
10. Make money work hard for you. Don’t work hard for your money.
11. Money is not taught in school.
12. Use the right vocabulary. Don’t talk about math. Talk about money: ROI(Return On Investment), Assets, Liability…
13. Middle-class trap: Your house is your biggest asset. It should not be your biggest asset. It’s actually a liability.
14. Live beneath your means. Don’t make the mistake of “looking good and going nowhere.”
15. Two major money problems. 1: Not enough money. 2: Too much money.
16. You need to get a handle on your money
17. Start a home-based business. Take control of your taxes. Take your extra income and buy more assets.
18. Pay yourself first.
Money Saving Tips from Peter Lynch:
Multimillionaire Peter Lynch is called one of the most successful money managers in history. When he talks about money, people listen. Here’s Peter’s advice on investing in the stock market:
19. Investing is personal. Compare investing in a company to going out to eat. You know what you like and that’s what you order. You usually stick to safe bets. Use this same mentality and applying it to buying a stock. You only need a couple of good stocks a decade to make significant money.
20. Own stocks for long periods of time. A good stock is at its best the 2nd, 3rd, or 4th year you own it. It shouldn’t be at its best the 2nd, 3rd, or 4th day. If it is, then you are gambling, not investing.
21. Do major research on stocks. You are buying a company. Know about your company. You would research an appliance if you were buying a new one.
So, research a stock!
MYTH: Make money very rapidly. False! Making money fast is day trading. Day trading is extremely dangerous. It’s similar to gambling, only with day trading, you also have paperwork.
Money Saving Tips from Joe Dudley:
Joe Dudley is a sharecropper’s son who grew up in a one-room shack in North Carolina that he shared with eight other siblings. He knew poor. Nowadays, Joe heads up a US$35 million beauty empire and lives in a 20-room mansion. Although Joe and his wife, Eunice, are multimillionaires, they live on a tight budget. Here are several of their money-saving secrets:
22. You must save money in order to have money
23. Buy new products that have scratches or dents you’ll save on them!
24. Credit cards are a convenience but pay the bill immediately.
25. Don’t buy a house that is too expensive for your budget. Buy a house only two times your income.
26. Use coupons.
27. Go to a couple of stores before making a purchase. Compare the prices.
28. Don’t buy a new car if you can’t afford a new car. Buy what you can afford.
29. Don’t waste money on food. Cook in huge portions. Make them last. Don’t waste leftovers.
30. Ask what you want and why you want it. Then WRITE IT DOWN. You need a map or a plan in order to succeed. (Make declaration every yearly, monthly, weekly and daily, you’ll amazed how much you create and how fast it can be!!!)
Money Saving Tips from Jean Chatzky:
According to Jean Chatzky, financial contributor for Money Magazine and The Today Show, there are simple money-saving secrets you should know and use!
31. Wait a day to buy. Over a third of our purchases are impulse buys, so wait that day. But don’t wait much longer than a day because it costs more when you procrastinate. For example, airline tickets, airborne mail, etc.
32. Work the phones. Use this strategy when purchasing airline tickets, hotel rooms, car rentals, etc.
33. Buy in bulk. Use this advice for items that you see that you couldn’t find everywhere. For example, a good birthday gift for your children’s friends, or party favors. If you are taking this advice to the bulk-food stores, BEWARE! You need to shop the unit price to see if you’re getting a bargain.
34. Buy Used. Use this strategy especially for cars. By the time a new car is 2 years old, it has depreciated nearly 60% in value but has only used a third of its miles.
35. Look over your checks. Waiters make mistakes. ATM’s make mistakes.
36. Banks, Inland Revenue and credit cards make mistakes. Be mindful and catch them, it’ll save you money!
37. Do phone-rate checkups. Every six months to a year, call your phone service, both landline, and cellular and make sure you’re getting the best deal!
38. Watch all your interest rates, mortgages, investment, loan, credit cards.
39. Live Below Your Means.