Five Skills That Can Help You Save Money

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It’s no news that some people are better at saving money than others. The reasons why some of our savings accounts multiply exponentially while others struggle to gain a dollar a day are varied. Personality type, habit, upbringing, discipline, and income are all factors in a person’s saving potential, but some money-saving ability also comes from the skills you possess. Certain skills (most of which can be taught) are highly valuable to those people who are serious about saving money. Here are five:

Money Management – People who can manage their own money well can save more. This statement sounds redundant, but it’s not: if you work with your own accounts, you a

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6 Responses to Five Skills That Can Help You Save Money

  1. Cuckee says:

    I disagree that people who manage their own money save more. Saving money is one thing and investing another. If you are not equipped with the best skill set it is always better to hire an investmnent expert and let him handle the funds for you. The higher returns would negate the costing involved.

  2. Craig says:

    @Cuckee
    True, but the problem is finding an investment expert. It took me quite a long time (ten years) to find someone that was knowledgeable and truly had my best interest at heart.

  3. conny says:

    go with index since most investment experts are only glorified sales people. With a bare minimum of knowledge in investment strategies.

  4. fractalbrothers says:

    if your “investment expert” can’t beat the S&P 500, he/she is worthless.

  5. conny says:

    fractalbrother is right about that .But the fact is more then 70% of professional investors don’t… So for 95 % of you out there index is the way to go according to W.Buffet

  6. Gail says:

    There is NO reason to be a lousy cook. There are plenty of beginner cookbooks that can help you learn to cook–check your library. Cookbooks from the 40’s & 50’s in particular have lots of great down to earth recipes. A great Frugal cookbook is Dining on a Dime. Restaurant cooked meals and processed foods are extremely high in salt and the minute your blood pressure starts creeping up, you had better learn how to cook salt free.

    As to sewing, yes, it can still be a frugal thing for mending, remaking clothes from thrift stores and it is still possible to buy fabric on sale and homemade clothes really do last longer than cheap factory made ones. Simple sewing also helps you make simple household decorations and necessities like pot holders for when you learn to cook.

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