You Can't Coupon Your Way to Wealth: Two Wealth Building Tips
Lark Stewart
empowering women to build financial security & protect their family's future
I used to coupon and bargain hunt. A lot!
On Saturday mornings I would par-ooze the sales ads in my email and check out the flyers in my grocery apps.
I would find so many killer deals! Sometimes I'd go so far down the rabbit hole, I wouldn't come up for air for 2 hours. I'd scour the internet for money saving tips.
I could save $6 if I bought 4 laundry items at Target totaling $72.52 and a 30 minute trip.
Kroger had green onions on sale for $0.45! I'd just swing by after my Wal-Mart trip. It was just 15 extra minutes.
That dress I'd been eyeing for months was 40% off, but gotta buy 1 more thing to get free shipping.
Why did I do this?
Because I wanted financial freedom. And to get there, I followed traditional financial advice given to women: save, spend less, shop the sales, and be happy about it.
You know what all of this got me?
Lost time. 3 years worth of laundry detergent. And a lot of clothes I never wore.
It didn't work.
I'm going to share with you the two money saving tips. These two changes made helped me shift from worry to wealth.
First, move all your sales emails to a separate email account.
Email marketers are smart. They use psychology to get you to buy.
Let's say your favorite shoe store emails you a coupon code for 30% off.
You click. You start looking through their stock. You add a few pairs of shoes to your cart.
If you buy, you spent money that you probably would not have spent had you not seen the sale.
If you don't buy, your brain tells you that you lost something. You lost what's in your cart. You lost the savings.
Your brain is designed to protect you. It's designed to prevent loss. It can even spiral out of control to prevent a loss. So much so that it actually overreacts and the result is binge spending.
To counter this... remove the temptation. Move your sales emails to a completely separate account so you only access the sales when it's necessary.
Or better yet. Delete them.
The second tip, isn't really a tip. It's a mindset shift.
It wasn't until I shifted my focus to making money instead of saving money that I started to see my career, money, and investments grow.
The time I was spending on "saving", I swapped for learning how to build wealth.
Like learning how to buy a house with an FHA loan.
领英推荐
Or researching which jobs paid the best in my industry... then going and getting one of those jobs.
Don't get me wrong, I didn't start buying pre-made meals or go out to fancy restaurants. I still took advantage of discounts when it was worth my time. I lived within my means.
But giving up 2-3 hours a week on "saving" wasn't serving me.
Instead, I spent time learning how to start a business. How to get clients.
The money I made with my business afforded me the downpayment on 10 acres, which is now worth 2.5 times what I paid.
You see, when you focus on saving, it's like trying to manipulate a rock. It doesn't stretch and it doesn't have much give. You might be able to chip away a little.
But when you stop focusing on YOUR rock, you can look up and see that you're standing on a pile of rocks.
There's money out there. You can go make more. The potential is limitless.
But you have to learn how.
That's where I can help you.
First, build a solid financial foundation. That means no credit card debt and 3-6 months of savings.
After that, you're ready to start investing in more advanced strategies.
There are two ways to do this. You can struggle like I did and research real estate investing, crypto, and the stock market.
Or you can skip a decade worth of headaches.
Check out my proven wealth building strategy. It's automated, easy to implement, and you earn guaranteed interest.
Unlike crypto or the stock market, your money doesn't fluctuate with the market. It's easy because you don't have to time to stress about what's happening on Wall Street.
If you found this article helpful, DO this:
Day Lark Wealth helps women achieve their financial goals and secure their financial future.
This information is for educational purposes only and should not be considered specific tax, legal, investment or planning advice.
Interview & Salary Negotiation Coach | Career Coach for BIPOC | I Help Women 2X their Comp | ?? Secured $5M+ in Comp for Clients | ???Host of Salary Negotiations Made Simple | Leadership Training | Recruiting |
1 年More people need to understand this! I wish I had thought like that right after I joined the workforce. I decided at some point in my 30s to start thinking like a business - you need to make revenue (salary, bonus, comp) - you can't succeed by cutting costs.
I can help you spend less time on LinkedIn and get more results.
1 年I am with you here, Lark Stewart. Sometimes this is me. Thank you for sharing this!