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  1. 10 Tips to stay POOR

    Nov 18, 2009

    This is a reminder for myself that I'm currently not supa rich! So here is my weird way of giving myself 10 tips to stay poor (means 10 tips to avoid!):

    1. Spend more than I make
    Actually if I only do this #1 tip, I won't have to worry about the other #9 tips. This is the easiest way for me to become poor. It doesn't matter if I make millions or hundreds each month, the same principle applies.

    2. Lust after what I can't afford
    Desiring something is not a bad thing, but lusting after it is. Buying things I can't afford, because I am not content to wait until I can afford it is a great way for me to stay poor.

    3. Never give to anyone
    It seems counter-intuitive, but keeping everything to myself only causes me to have less. Wise saying "The generous man will be prosperous, And he who waters will himself be watered."

    4. Don't pay attention to where my money goes
    From talking to people about budgeting I find that most of them say that when they started budgeting it seemed like they had a whole lot more money. The reason being that they didn't know where it was all going before they were budgeting. I had a similar experience myself. I said, and really believed, I knew where my money was going, once I started a budget. I was amazed at how much more money was available.

    5. Get a loan for everything..cars, a new bedroom set, a vacation ***BONUS: use credit cards with a 25% interest rate!
    Using cash to buy things (especially items that depreciate in value) is the key to breaking out of the "poor" cycle. Ever notice what part of town you typically find the rent-a-centers? It isn't where the wealthy people live. The poor (like me) buy their luxuries immediately and on credit. The wealthy wait, save up and buy it with cash.

    6. Wait for the perfect time to start saving
    As with most positive life changes we can make, there never seems to be a perfect time. Now is always better than later.

    7. Follow the crowd
    The older I get, the more I realize that the crowd is often wrong. The crowd is also mediocre. I often have to remind myself the reason I am using a Coach handbag, while some of my friends are using a Balenciaga (borrowed) handbags is because I am patiently waiting for the reward of avoiding debt.

    8. Don't worry about the little things, they don't really hold up
    God seems to be into the little things. Everyone looks to the big things and the flash-in-the-pan, but it seems to be the little things that make the biggest changes. I don't think it is any different in our financial lives. I mean how else cound a family making $35,000 each year retire with millions and a $10 million lottery winner end up brankrupt?

    9. Invest my money in things that I know nothing about
    I should know where my money is going and why it is going there. I don't just buy a stock because I got a "hot tip". Buy a stock in a company that I understand how they make money, who their customers are, and if there is evidence suggestin that the business will continue to thrive (like makeup and skincare companies!).
    I have invested in things I absolutely didn't understand and I will just say it is a bad idea all the way around. It is always a better idea to hold my cash in a money market account until I understand the investment. Then, once I understand, pull the trigger.

    10. Waste stuff - money, food, time
    I remember hearing that "someone who is wasteful, is not really thankful". I am not sure if that is always the case, but, I have a responsibility to minimize my wastefulness.

    I'll be launching another blog for swapping, so stay tune! I prefer to let others to 'adopt' my neglected items rather than sell them. But I will only launch this swapblog after my giveaway (to see how much stuffs I have left remaining hehe).

    So gals, waste not, waste not the trees for paper producing, so read your Novermber ELLE magazine here and the December ELLE magazine here! Enjoy! xoxo elle
    With Love, Elle


  2. 11 kisses & hugs:

    1. Crystal.S said...

      Great post!
      Thank you for the ELLE links!!
      :D

    2. JustJenny said...

      i am exactly the same!
      i am soooo pov atm but i just cant help myself

    3. Prophetess said...

      Nice to always hear ;)) Reminder to make sure I stick to all 10 for a successful life ;))

    4. hehehe!! so cute!! these are amazing ways to be flat out broke! to think I'm guilty of a few * gushes in embarrasement* hahaha

    5. Blair said...

      I think I need to set up a swap blog too... Thanks for all the tips elle! =D

    6. Great post! Really, I mean it. It was important to read something like this just before launching a crazy holiday splurge. I just stumbled on your blog and loving it so far. :)

      http://clearlybeautiful.blogspot.com/

    7. thanks for everyone support! yes my recent swaps have saved me so much! and all it cost is just the postage! go gals, lets all swap!

      xoxo elle
      ps: hope u gals enjoy the online elle mags ;p

    8. stellarvixen said...

      brilliant post~~ touche~
      haha #7 is like a slap for me *ouch
      i hate debtssss!!

      i have been swapping like a mad gall indeed..so much joy & gleeeeeee

    9. Becks said...

      haha this is cute, love the 25% interest part - you know one of my store credit cards (which I never use) charges 45.56% crazy right?? I'm in my right mind to cancel it, I've never had to pay the interest rate but just seeing it makes me mad!

    10. Savvy Gal said...

      all valid points. come join me at my giveaway, it's free. xoxo

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