RSSA Penny Saved is More than A Penny Earned
Feb 05
This age old adage is attributed to Benjamin Franklin, AKA Poor Richard. However, times have changed and so has the way we need to think about money. With time came the income tax. Yes, in this great land of freedom and opportunity there is a cost to making money. Currently, depending on how much you bring in, you could be charged up to $0.35 a buck, but most people will only pay about 25 cents per dollar.
This means I have to earn $1 to take home 75 cents. However, if I find a way to save a dollar that I would normally have to spend, I come out better than if I had gone to work or sold something for a dollar because my savings don’t get taxed. And the savings don’t stop there. If you live in a place like I do, where they charge a 10% sales tax on everything, you also pay less in sales tax when you figure out how to get what you need for low or no cost. And I’m not talking about the 5 finger discount either!
That being said, it’s worth your time to seek out as many ways as possible to save money. I like to use coupons that use the word “FREE.” But don’t get sucked in to the one’s that say, “Free with the purchase of…” because those usually involve paying for a premium priced product that you wouldn’t normally buy. And don’t go for the “Buy 3, Get 1 Free” deal either, unless you’d already planned to buy 4.
One cool way I found to save is through sites like PlasticJungle.com and eBillme.com. At PlasticJungle.com, I like to buy discounted gift cards to stores and restaurants I frequent. For example, I’ll by a $500 Wal-Mart gift card because my budget for the month calls for $300 in groceries and $200 in gas. Since I buy my groceries at Wally Word and I get gas from Sam’s Club, a $500 gift card for $485 just saved me $15. But you say, “$15 ain’t no money!” I say if I do that for Applebees, Chili’s, & The Cheesecake Factory when I go out to eat, and I do it at Home Depot & Lowes when I need something for the house, all of those savings really add up. Think about it. If you had played this game in 2008, you would have made a lot more money than everybody else did in the stock market. This is guaranteed return on investment. You’re basically buying money at a lower price. You’re trading money for more money! The only downside is the restriction to whatever merchant is on the card. But that’s not a big deal if you have some Foresight and plan ahead.
Of course there are many ways to save, but you have to be creative and diligent. It’s work, but it’s worth it. A slack hand causes poverty, but the hand of the diligent makes rich. Proverbs 10:4-5 (ESV)
Peace & Thanks,
Jamel Black