How To Change From A big Spender To A big Saver

How  To  Change  From  A  big  Spender  To  A  big  Saver

If we win this war  against the self, then prosperity and opportunity abound us but if we lose this war, oh!! God help us.


Warren  Buffet


Warren Buffet,the chairman and CEO of Berkshire Hathaway has a net  worth: $46 billion. Buffet still lives in Omaha, Nebraska, home he bought for $31,500 more than 50 years ago. He doesn’t own a yacht because, as he puts it, “Most toys are just a pain in the neck.” When he married his second wife, rather than a lavish affair, it was a brief afternoon wedding at his daughter’s house in Omaha.

Carlos  Slim


Carlos Slim Helú, chairman and CEO of Telmex has a net  worth: $69 billion.Slim may be the wealthiest person on the planet, but that doesn’t mean he’s an extravagant spender. The self-made billionaire lives in the same modest six-bedroom house he has owned for the past 30 years, and still drives himself to work, according to The Week News Paper. As far as we can tell, he does not own a yacht or a private plane.

Mike  Tyson


Mike Tyson has earned anywhere from $300 million to $450 million in the boxing ring over the past 20 years. According to U.S. Bankruptcy Court in New York, Tyson is down with his last $5,553 in the fall of 2004. Owed creditors and the IRS, estimated $10.2 million. He once spent $600,000 on a birthday party. Over the course of two years, Tyson spent more than $300,000 on limo rides around the New York metropolitan area. He spent close to another $300,000 during the same period on cell phones and pagers. Tyson spent $60,000 on rugs, a simple Persian throw rugs. In one of Tyson’s Luxurious houses which he had since vacated or been foreclosed upon, he managed to run up an $800,000 gardening bill and $100,000 of which was simply for mowed lawns. Tyson was spending $12,000 a month on the care and feeding of two Siberian tigers he owned and kept in Las Vegas. $82,000 for assorted men’s mink wraps, a $100,000 platinum bracelet with the inscription “heavyweight champ,” a gold necklace with 80 carats worth of inset diamonds for $175K.Tyson had a monthly bill for clothing of more than $18,000.In 2003 Tyson filed for bankruptcy and announced his retirement on July 11th, 2005. Since retiring, Mike Tyson has kept busy with media appearances in several TV shows and movies including a classic scene in the movie The Hangover.

Look at these contrasts between Mike Tyson, and Carlos Slim and Warren Buffet. The gap is too wide to my liken. These guys have so much but they don’t spend like Tyson did. I guess by now you’re laughing at Mike in your head. Though his spending life style was horrible, he did not start this spending when he had  money but he was already in the habit of spending.He started it little by little,probably from childhood.”Little  drops of water can turn into a mighty ocean”, so they say.So check those small spending habits of yours, they can ruin your life forever.
It is now clear that for you to be a highly successful individual, you must be ready to follow certain rules to achieve that feat. Highly successful individuals don’t live anyhow. Any time you see these billionaires, the only signal that should pop up in your mind is that these guys represent discipline and determination. If they don’t have these determination and discipline, all their monies would have gone down the drain like many others. The poor pays more taxes and spends more than the rich. The reasons why the rich are what they are now is that they followed certain principles,that under normal circumstances the average person wouldn’t go through. I can’t really Imaging someone like Carlos Slim and Warren Buffet still live in their old houses, it takes discipline to get there. I know we all want to be like them, but for us to be financially independent we must follow these rules of discipline and tactfulness that they have.I have researched on a few and  I have tried  most of these principles and they’ve been very helpful.Just try them and you will  thank your stars, but I wont lie to you that it will be easy;it wont be easy but the sacrifice is worth it.

You  Must  Resolve  To  Live  Below  Your  Means


According to Thomas J. Stanley, “If you want to be rich, you need to stop acting like you have money in the bank and start living beneath your means. “Do you know that if you don’t have three-six months living expenses saved in cash reserved, you’re living beyond your means? Don’t spend monies you don’t have. Try and cut down your expenditures on things that do not benefit you. Don’t try and buy because everybody is buying. You may find yourself in deep debt, and then find it difficult to pull yourself out of it. You must try to live within your means. High income producers must live below their means if they intend to become financially independent. Not only high income earners supposed to live within and below their means but whatever your income may be, always live below your means.

You  Must  Resolve  To  Change


Change is difficult at first but you resolving to make a constructive change in your life will go a long way to stop you from over spending. If you know what you want out of life and the benefits of being financially independent, that shouldn’t make you over spend. Make up your mind and that this what you intend doing and never turn your back even if the whole world is at your door to sell something too tempting. Think about your new change daily, because it is easy to forget when you’re tempted. Play with it in your mind’s eye the kind of status you will attain with your low spending habit. By resolving to change will make you pay your mortgage, that has been given you some depression of late, very quickly. By resolving to change will help you send your children to a better school. By resolving to change Will make you live comfortably by having your own firm and businesses that will bring you streams of incomes and then in turn create jobs for others. Thereby prosperity will reach all and sundry, because you’ve decided and then resolved not to spend unnecessarily.

Consult  A  Professional


When it is becoming difficult to change then you will have to handover your responsibilities to another person for a fee. You should then consult a professional such as a certified public accountant (CPA) who will provide some financial planning. These professional will be able to track how much you spend and what to do to avoid over spending. Search for quality accountants, Procurement professionals, Attorneys, and investment Councillors. Make it a habit to attend seminars on financial management.

Allowing   A  financial  Planner  To  Take  Over  Your  Finance


If your spending behavior is getting out of control as in the case of Tyson, you shouldn’t waste much time, get a financial planner to help you. Financial Planner will actually take over your purchasing behavior and power. In this case you will be made to cut back spending up to 30% for the next 2 years. Additional cut back then follows. In a situation where your spending habits are more of an addiction than a mere spending habits, the expert will keep your check books, writes all the check and pays all the spending.



There are many people who are reading this piece now and do not have any budget at all. Let me ask you this simple question, how can you keep tracks of your expenses if  you do not have a budget? You must resolve to create your own budget and it must be done for your personal expenses and your household. You must know how much money is spent on the various items used in the house. You should also know where all your money is going and keeping track of it.You will then get a clear view of what is needed and what is not.

Planning  And  Sacrificing


Are you interested in paying now and enjoying later with wealth, or enjoying now and paying later with poverty? Then choose your choice now!!It takes guts and a lot of sacrifice to be financially independent. All you need to do is to sacrifice high consumption Items today for financial independence tomorrow, Period!!

Living  In  Less  Affluent  Neighborhood


It is easier to accumulate excessive wealth if you don’t live in a high status neighborhood.There are some who has the habit of moving to more affluent locations because they want to be seen and I identified with the affluent.May be he probably got close to them because he thought he could establish some network with them.It may work, it may not. Research has shown that those who live in a high status neighborhood pay about 6.7% of taxes as compared those who do not. Those who do not, pay about 3.66%.

Spend  More  Time  On  The  Essential


Operate your house hold like a productive business. In other to save more, you must not spend more time on social issues like high inflation tax increases, government regulation of business and industries, and increase in government spending. Forget about all these bullshits, and find out how to invest those savings to give you a higher return.

By  Used  Cars


If you purchased a slightly used car, moderately priced and low maintenance and keep it for more than 100,000 miles, the savings over a life time are compelling. Leasing an automobile is stupidity. At the end of the term you own nothing, and you often owe excess wear and millage. You can only lease in certain special cases where a car is leased for a business and for that matter  and very importantly to create some glorious image, does a lease make se

Eat  Frequently  At  Home  Own  Your  Home; Don’t  Rent


Eating at home is not only a healthy practice but you save more.Eat frequently at home if possible.

Own  Your  Home; Don’t  Rent


Unless you plan to move every few years or live in a declining area, renting an apartment or home is like leasing a car- you shouldn’t do it.Home ownership can have a profound positive effect on your financial situation and savings.

I’m not saying don’t spend when you have enough to spare. But spend wisely. Spend in other to get more cash. But don’t spend unnecessarily, you will be poor like the others if you try. Let me tell you, on the poverty line,it is as HOT as HELL.I dare you therefore, not to try coming back again to the poverty line you were once in.You may commit suicide in the process. My Fellow Infinity Thinkers what do you think?


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