Spending smart

We’re constantly being pounded with the idea that financial success depends on how much money we make, working or investing, when the real path to financial success, for 90% of all adults, is spending smart.

At no time in your formal education, however, were you told this. At no time were you told how to spend smart, and the world of business is sure not going to tell you. It’s just not in their best interests. They want you to spend your money where and how they, the businesses, want you to, not what’s best for you. So no way are they about to tell you any of this stuff.

All they keep tell you is that you have to make more money.. that making more is the only real path. But if you take a good look at those that are in really good shape, financially, most of them, by far, got there by spending smart, not because they made a lot of money.

It turns out that when it comes to spending smart there are some really cool, really powerful things you can do. And I’m not talking about doing without here, but what I am talking about is putting a lot more money in your pocket and a lot more years of being free financially. But to get that money.. your money.. there are 6 spending rules you need to follow.

These rules are simple, but boy can they make a huge difference, especially over time, on the money you get to save. We’ve reached the point where 70% of American’s today have serious problems with money. No way you want to be in that group and no way do you have to be.

Rule #1 is that you really must have a written, well thought-out plan for how you plan to, prefer to, spend your money.

Now I’m not saying how much you’re being manipulated, because I don’t know. But what I do know is that you need to darn sure you’re not, and the only reliable way to do that is to decide, on your own, all by yourself, where you’ll spend your money and in what sequence, what priority sequence, and how much you’ll save.

If you really want to be happy with what you get back from your money, it’s something you really have to do.

Rule #2 is to always look at the annual cost. To understand the real impact of your spending choices, always understand the annual cost involved.

Say you spend $4.50 at Starbuck’s, or $10 a day eating lunch out five days a week. Those seem like small expenses, but the annual costs on those 2 are $1,100 and $2,500. To cover that you need to make an additional $1600 and $3,500 a year, respectively.

Better yet, that’s from $42,000 to about $100,000 in 20 years at a 6% investment return. A hundred thousand dollars!.. $148,000 if you put it in an IRA, pre-tax! This is what you are actually trading away with just a single small purchase.

Pretty amazing, isn’t it? And for most of us there are usually a number of such purchases, so to see the size of this opportunity, start multiplying.

Now look, I’m not telling you not to have your cappuccino. Your priorities are yours. All I’m saying is know your trades. Every time you spend, you’re trading something for something else. So just be sure you know the real cost of your trades and what you’re trading it for.

So there are the first 2 rules you need to follow.

Want to learn more, including exactly how to go about setting up that winning spending plan?

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So how do you get the best deal on a new car? It’s simple, really.

Unless you’re 100% financially free, work when and where you want, already have pretty much everything you really want, never buy one. Never buy a new car.

I sure don’t, and most of the successful people I know, don’t.

So why don’t they buy new? Because it would’ve cost them a heck of a lot more money if they did.

A new car loses at least 35% in the first 2 years alone. That’s $9,000 on a $25,000 car, $12,000 on a $35,000 one. And if you’re financing the car, it’s more yet.

Think about what it means to have all that extra money. $10,000 every 5 years at a 6% return is $88,000 in 20 years. You really want to give that up for this? I sure don’t.

So before you do, think about what else you can do with that money.. great vacations, a nicer house, or better yet helping you to become financially free a lot sooner in your life. if you’re like most people you’ll see that buying your cars new.. owning a car that’s new for what, a couple of months?, is not the way to go.

I ask you, what is the real difference between a new car and a two or three-year-old car? Do you notice the difference when it drives by? Most people don’t.

Is there a noticeable difference in safety? Sometimes, yes, but most of the time, no. Would it be more comfortable? Not really that much of a difference, is there? How about having fewer miles on the car?

When it comes to mileage, the well-made brands these days are usually good for 150,000 miles or more. As to the warranty, any savings will be blown away by the difference in the cost of purchasing the car. Nicer looking? You just like it better?

If you still think buying a new car is right for you, then why? Are you talking status? Are you being influenced by those commercials?.. letting others decide how you spend your money?

I’m telling you.. the real difference between a new and a 2 or 3 year-old car is money, baby. One heck of a lot of money.

As to how to go about buying your car, car salesmen are often genuinely very pleasant people but be careful, as the world of car buying and selling has, in so many ways, become a game.. a game they play every day. The funny thing is, if you play your cards right it’s actually you that’s in control, not them, because if you walk, they lose the sale.

Winning this game isn’t as hard as you might think, but to do so there is some key stuff you need to know. And once you do, I think you’ll end up just like me.. smiling all the way to the bank.

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Let’s start with some facts.

A detailed study done not too long ago by Consumer Research found that when people asked for a better price, they received it more than two-thirds of the time, that 58% of those that ask for a lower medical bill get one, but that over 70 percent of the time people just don’t ask.

Either they don’t know the money’s there, don’t know how to ask for it, or are just uncomfortable doing so.

And let’s face it. The goal of any business is to make the most money it can, not to give you the best price, the best deal, so no way are they about to help you on this.

And your education? They never covered, it did they. Hey, that’s always been true for everyone.. even those with a PHD in business.

The good news, however, is that what you need to do is actually very easy and anyone can do it. You’ll find that it’s even a fun thing to do once you get into it.. kinda like playing a video game and getting paid in dollars, not just some points.

Most of the time all you need to know is to do 3 simple things, as simple as tying your shoes, say two simple sentences, and to be super friendly to all while you do so. Do these things and most of the time the money is yours.

We’re talking a better price for the things you normally buy and the services you normally use.. telephone, internet, cable, professional services, doctor and dental bills and such.

As to how many dollars, if you’re like most people we’re talking at least $500-1,000 a year for like an hour or two of your time. And that’s just for starters. Now that’s a pretty nice hourly rate, isn’t it. And keep in mind that this is your money we’re talking about. You worked for it, so why not get what you deserve from it.

So how do you get your hands on this money.. your money?

It’s simple. Go see my MoneySmart Project Introduction and Overview Video. At the end of that video you’ll get a coupon to see Course #1- How to Get a Better Price or Better Deal on Almost Anything for free. And once you do, you’ll know exactly how go about it.

So fasten your seatbelt, ’cause you’re gonna love it!

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You may not know this, but car ownership costs are the second largest household expense in the U.S.. 17% of take-home income. The average family spends almost as much money on cars every year as they do on food and health care combined!

The good news is that cars aren’t just a huge expense. For most people they can be one heck of an opportunity for saving.

There are so many opportunities to save or lose money here, so many tricks they try to play on you, I can’t tell you. Fortunately, I’ve learned all kinds of things to do and not to do over the last 55 years of car buying and especially thanks to the advice of a smart and very knowledgeable insider.. a nationally known expert named Remar Sutton. And if you google Remar Sutton’s name, well game over.. because he da man.

So what did I learn? That buying cars smart is just not that hard a thing to do, and that can it save you somewhere between $1,000-3,000 a year, depending on what price range you‘re buying in. Multiply this over the years and you’re talking one heck of a lot of money.

How much money? $1,000-3,000 a year invested at say a 6% return is 40 to 120 thousand dollars in 20 years! Think of what that kind of money alone can do for you. Pretty amazing, isn’t it. But to get that money, your money, there are quite a few things you need to be aware of.

For example…

Pricing.. We’re told that for a new car, sticker price is meaningless. That what matters is invoice price, which is what the dealer paid for it. But surprise, surprise the invoice price is not what the dealers pay. They also get what’s called dealer holdback from the manufacturer on every vehicle they sell. The holdback is usually about another 3% of the sticker price.

Where to buy a used car.. Most people would say it’s best to buy from a private seller, but a lot of the time you’re likely to do better if you don’t. Not unless you know the seller personally. If you do, great.

If you don’t, you can always go on-line and buy someone’s car that they’re selling, but you better be really careful, because you may have just entered the Lion’s den.

An awful lot of the used cars being sold on-line by quote-unquote the owner are not being sold by owners. They’re being sold by professionals, people selling maybe a car or two a week.

Far too much of the time they know how to fool you on the condition of the car. Far too often they’ve rolled back the mileage. Far too often it’s a car they bought on the cheap, and for good reason, and are now selling it to you at a quote-unquote fair price.. fair if it wasn’t a problem car.

So yes, you can go online and take your chances on a private sale but for most people I think there might be a better way to go. Buying your car from a new car dealer.

So why a new car dealer? It’s the new car dealers that are the ones getting most of trade-ins and the lease backs. And so what do they do? They usually keep the good ones, the ones that are in really good condition, and wholesale out the others to the used car auctions. So they probably just picked you a good car.

And they also usually use the down-time in their service department to check everything, fix whatever needs fixing, which reduces the odds you’ll end up with a problem.

Now don’t misunderstand me. The world of the car dealer is a very tricky place, to say the least. Car salesmen are often genuinely very pleasant people but you need to be careful, as the world of car buying and selling has, in so many ways, become a game.. a game they play every day.

As to how to win that game, it really isn’t that hard, but to do so there is some key stuff you need to know. And once you do, I think you’ll end up just like me.. smiling all the way to the bank.

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