Being
a Cheapskate
©
Money Magic, Inc. 6/9/01
Saturday Daybreak KATV, Chn. 7
Mary Ann Campbell, CFP
Being a Cheapskate
by Mark W. Miller,
Alpha Books, $16.95
A
Quick Guide to get more for
your money and build savings...
Mark Miller is a financial planner
who went broke.
He learned from his financial disaster
that he could spend money wisely without
giving anything up.
Characteristics
of the Successful Cheapskate:
- Value
their relationships with people more
than money
- Continually
educate themselves about personal finances
- Are
creative and resourceful when it comes
to saving
- Ask
lots of questions to make sure they
understand everything
- Are
never afraid to ask for a discount
- Avoid
excessive amounts of debt
- Always
shop around, and around, and around
- Have
the discipline to say "no"
to a bad deal
- Have
the willpower to delay purchases they
don't need
- Save
and invest on a regular basis
- Have
powerful, written plans of action to
achieve their financial dreams
- When
they can, buy used instead of new
- Understand
the basics of the investment markets
Top
Best Money Moves
- Saving
a set amount of money month after month
- Avoiding
illness by eating right and exercising
regularly
- Shopping
at warehouse clubs
- Buying
term life insurance instead of whole
life insurance
- Taking
a Saturday morning and going to a few
neighborhood garage sales
- Doing
your taxes yourself
- Investing
through mutual funds
- Buying
generic and store brands at the grocery
store
- Double-checking
the word of a commissioned salesperson
- Getting
wired to the Internet to find the best
deals on everything
- Investing
in income-producing real estate
- Finding
out the dealer cost of a car before
you start negotiations
- Being
debt-free and buying most everything
with cash
- Educating
yourself about investing and being your
own adviser
- Shopping
at outlet stores
- Eating
meals at home rather than out
- Making
"extra principal" payments
on your mortgage
