Welcome to the new Frugal Personal Finance for the Average Joe. I'm building this blog to help financially responsible individuals identify the latest ways to personally manage their wealth and build their kingdom on their own while meeting the demands of working a full time job and providing the novelties we've come to appreciate.
Making frugal decisions on how you manage your finances and taking advantage of the opportunities to earn additional income or make your money work for YOU will make a real difference over a long term commitment. What most families fail to realize is that it can also make a real difference in the short term as well. Simple changes in your life can make immediate impacts such as analyzing your monthly expenditures and realizing that each $5 latte, $30 movie, $30 dinner, and $200 cable bill will nickle and dime away your monthly income quickly.
We also have to seize the opportunities throughout the year to make the most of opportunities to save or build our portfolios. For instance, applying your yearly bonus to debt instead of buying a new TV or ATV could reduce your 4 year car loan to 3 or 2 years. That could save you $300-$500 every month, plus earn you money saved on interest charges. Making educated decisions on filing your taxes could also save thousands each year allowing you to pay down your debts quickly.
Lastly taking those few hours you spend each night searching eBay or watching TV can be shared with a hobby to earn you additional income on the side. Instead of spending money on impulse buys for that rare purple polka dotted beanie baby you could be earning a few dollars by listing the junk piling up in your spare bedroom. It's amazing what people will buy. You could also take up additional hobbies such as attending storage auctions, doing lawn work or running errands for money. You could also just use that time to perform home improvement around you house and property which will result in earned income if you ever sell your home.
Each potential to earn or save a few dollars may seem like noise in the grand scheme against that $5,000 credit card debt, $1500 mortgage payment or $500 car payment, but the idea is that each of those nickles and dimes add up over time and the sum of the parts make a huge difference!
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