Thinking of growing money? Don’t just focus your thoughts and efforts on earning more money or finding new avenues to invest the money you have earned. You need to fill the gaps from where money is seeping out. Yes there are holes and gaps which are responsible for money to flow out and you don’t even realize it. People who do identify these gaps are much better off; financially. It does not mean coming down on your living standard. You just need to check for the points of expenses in your life where you can spend intelligently and save a magnificent amount which will only add up to your financial portfolio.

Growing money for financial independence

Growing Money by plugging loopholes

Growing money by making an intelligent decision while buying a house

Almost 35% of a human being’s earnings go towards housing still a major part of the population who are in the age bracket of 55-65 are on the verge of loosing their homes due to non payment of their mortgage. Since this is the major expenditure anyone does in a lifetime thus there is immense scope of going wrong while buying a house. While buying a house its not only the house that you are paying for it is the other costs of living also that are going to affect you budget in the long run. A price difference while buying a house can be felt even when you move a few blocks from the place where you have been thinking of buying a house. To reduce the costs of housing you can also look for a roommate to share the expenses.

Transportation takes a major chunk of your income

You need to travel almost everyday to your office and back home. Having a house near the place where you stay is going to cut down on your daily expenses drastically. The cost of oil and gas is not going to come down however if you can convince your boss to work from home you are going to save a fortune in terms of the transportation costs that you are going to cut. Making car payments for a brand new car will surely drain you off every month of a certain amount of money that you could have utilized for investment. Go in for a second hand car and make one time payment from your savings.

Figure out where you can cut back by having lifestyle check

See for the things in your life which exist there but you could do fairly well without them. If you have two cars see if you are good with only one. If you eat out three times in a week cut down your outdoor meals and have it once a week or even better once a month. Ditch your cable TV since there are other great sources of entertainment that come at a lower cost. There are several such expenses which can be cut down in your journey towards growing money.

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