Sunday, August 2, 2009
Be Frugal First
In order to make money, you must first be frugal. Then, and only then, can you worry about this next step of increasing your income. You must be sure that your living expenses, transportation expenses, food expenses, and entertainment expenses are as low as they can possibly be before you move on to this next step. If you have difficulty in determining how much you should spend, just ask yourself "What is the lowest amount I can spend while still maintaining a quality life from a homeless person's standpoint?" Then, you'll be able to live well while still spending less. Spending less is critical. If you do not spend less first, then this second step of increasing your income will be totally useless, because you will do what most people do - earn more, spend more. Only when you are living as frugally as possible can you move on to the next step.