Video walk through on 66 simple tips how anyone can build wealth

66 simple tips how anyone can build wealth

Overall Goals / Strategies

Aim for zero debt (even counting home loans)
Be proud of saving money (not embarrassed). Brag about it!
- Hangout more with people that also are proud of saving $
When purchasing, try and negotiate. Don’t be afraid to ask for a lower price / conditions. The answer is always no unless you ask
Make a budget and stick to it!
Follow and learn about money from people like: Beth Kobliner, Dave Ramsey, and Suze Orman
Teach your kids about saving money. Quantify how much each thing costs. THEY will forgo things…
Round-up everything you buy to even $5. All extra money you don’t spend goes into savings
Pay very close attention to recurring costs and large 1-time costs!
Choose your college & degree wisely. Well-known names don’t offer as much as you might think. There’s a huge variance in the cost to getting each type of degrees which has NOTHING to do with how much you can earn for each degree
- Also consider trade schools. Often they are a better fit with far less debt
Believe in yourself! Take responsibility for EVERYTHING! Don’t buy into the “blame game”

Buy generics instead of name-brand on drugs, clothes, cars, vitamins, etc.
Skip lavish vacations. Have “staycations” or “code-cations”
Cook meals (especially with planned left-overs)– Eat-out less frequently. You’ll save $16 per meal
Don’t have a car payment! If you have a car payment, sell it and buy something that allows you to not have a payment
Keep your car for longer
Do repairs / maintenance on your vehicle (Tune-ups, oil change, brake job, etc.)
Cut ties to Cable / entertainment. Find other sources like Netflix, Hulu, etc.
Skip the coffee shop
Review your cell-phone plans
Review all subscriptions! Are you really going to the gym?
Bring your own bottled water / drinks. (stop buying drinks when you dine-out)
Talk to your family & friends and agree $ limit for gifts
Use coupons- Examine and save your Valpak and local papers
Use Flexible Spending account and/or Health savings account
Price check everything.
Research everything! Consumer reports is accessible via local library
Freeze your credit
Freeze your credit card
When you feel like spending money, buy things you’ll need anyway (like food)

Do repairs / maintenance on your home (Clean AC, drain hot water heater, clean refrigerator coils)
Cut your own grass / lawn maintenance
Ditch the maid or reduce the frequency of visits
Refinance your home. Make extra payments / don’t just pay the minimum and pay it down early
Try and time major purchases around big sales events (Fourth of July, President’s day, Christmas, Labor day, etc.)

Get a Smart thermostat (Honeywell, Nest, etc.)
Lower temperature on hot water heater
Raise Temperature AC / Lower temp on heat (every degree Hotter / Colder you’ll save ~3% on your energy bill)
Add ceiling fans in every room (I put up 5 in my house alone)
Run your AC during non-peak hours
Put in a “whole house fan” or some of these window fans (I own two of these AirKing and they really move the air!
Add plastic insulation to windows or drapes (The drapes can do more than you’d think)
Sun / Solar screens
Silicone all doors & windows (the older your windows & doors are, the more important this is)
Foam insulation pieces around outlets / switches on external walls
Change your HVAC air filters (Note, the cheapest ones are probably fine) I use Amazon’s subscribe & save
Add insulation to your attic
Buy a KilAWatt meter to see how much energy your devices are using
Look for “vampire” devices that always draw electricity
Change out incandescent bulbs with LED bulbs. (If you have CFLs, I’d wait for them to die)
Purchase low-energy consumption appliances (Consumer reports has good metrics & access from your library)
Purchase higher SEER rated AC units (SEER 16 will save you ~ 70%)

Invest in yourself! Spend time/money on things that allow you to make more money / increase what you can charge.
- Story about Two guys in woods cutting down a tree
Always have multiple jobs. (Gig economy) Put all your “extra” money towards your debt
Create sources of revenue that are scalable and perpetual. Udemy course? Affiliate links, etc.
There’s “riches in niches.” In nearly every industry, Generalists make much less than Specialists
Find additional streams of income for your properties (rent shed, carport, parking, etc.)
Trade work / Barter with friends / neighbors
Monetize your hobby / passion. My Udemy courses / YouTube. Wife making wreaths
Pet-sit, Housesit, babysit, elder-sit / safety check
Start a business that has very low start-up costs and little risk. Especially awesome if it can scale without large costs