If you want to know how to make money, you need to know how to save money. Once you master that, the rest is easy.
In 1995 I had a young attorney friend who bought a bottle of Mountain Dew at a convenience store every morning on his way to work when we had free sodas available to us. While I appreciated his loyalty to his favorite brand, it cost him quite a bit of money. Was it worth it?
I figured at that time how much his “loyalty” cost him a year and he was not phased. However, I have since figured out how much it has cost him on average with the price of drinks fluctuating over the past 31 years. On average it cost him $9,300 and that’s only considering 5 weekdays.
What would $9,300 buy you today? A great downpayment on a car, 7-8 months of rent for an apartment depending on where you live. Two or three high-class wardrobes or even better, 10% of it ($930) is placed in savings with compound interest and the rest invested in paying off debt or paying your monthly bills.
Today, my older attorney friend does well for himself by virtue of his education, his skills, and abilities, but at the end of the day – I have $9,300 he doesn’t and it cost me nothing – I saved it; therefore, it was free.
If you want to make money, you need to learn to save money! There are many much bigger examples I can give you and I will as together, we learn how to make common cents.
