Money Is Power – If You Spend It Smartly | The Frugalista

Money Is Power – If You Spend It Smartly

by frugalista on July 31, 2012

A college friend had a saying that she used after negative shopping experiences – “You won’t miss me, but you’ll miss my money.”
I knew right away after hearing my friend say those words that a) she was truly upset with the service b) the business lost her as a customer.
I learned a very valuable lesson from my friend. Money is power – only if you use it wisely.
Being frugal isn’t about being cheap. It’s about using your money and other resources on things that are valuable to your life. Here are some of my financial tips for money spending power

1) Buy In! Before you rush out to buy the latest designer bag or gadget from a tech company, make yourself a promise to think about buying stock in the company. There are many ways to buy a product! Purchasing it off the shelves isn’t the only way! Here is a list of publicly traded retail companies!

2) Consume financial news everyday! Most of us spend money everyday, whether it’s grocery shopping or buying gas for our car. We should read financial news everyday! Of course, I’d love for you to read everyday. Also, check out the local paper’s financial section and think about sites such as Kiplinger’s. CNBC is a pretty nice place to hang out too for some financial information. Black Enterprise is a friend of, too! It’s OK to buy Forbes magazine or click around on Business Insider!

3) Invest in yourself! This is part of the Frugalista plan! “You, Inc.” is the best business to invest your hard-earned dollars! Save money and aim to have one year of living expenses in the bank or credit union. It may seem like a big feat for some, but having money saved allows you freedom to make smart decisions. If you have a healthy savings account and get laid off from work, you don’t have to depend entirely on high interest credit cards to finance your living expenses. Or, if you want to take a risk and start a small business, you can take it – smartly.

4) Make it a point to let businesses know how you feel! If you get great service at a business, tell a friend. If you get poor service, tactfully tell the manager or the business owner. You don’t have to go back, but you should at least let them nicely know where their business can improve. If you find a great business, tell a friend! Sharing is caring.

How do you flex your money power?

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