The Best Money Blog – How to Save Money, Live Frugally, and Earn Passive Income

It may seem like an easy question to answer, because you can’t save money unless you earn money first. What I want to discuss is how each one is going to help you more on the road to wealth. To make things a little more complicated, I will start off by saying that the answer to the question is both, but you’ll have to read the full article to see how each one can help you attain the wealth you have always dreamed of.

As a follow up to one of my first articles, 6 Major Money Leaks In Your Life, I have collected another group of items that drain cash from your bank account on a monthly basis. If you can avoid charges from multiple items on each list, you will save yourself a decent amount of extra money you would have otherwise wasted.

You’ve read hundreds of blogs telling you 1,286 different ways you can save money. Some of them might seem crazy, and they often are, but others are tried and true methods that have been successfully practiced since before money was first printed. Why aren’t you using any of them?

We’re going to dive deeper into the reasons for inaction on your quest for financial freedom. You know exactly what you have to do to get there but you aren’t doing them, so what is holding you back?

Almost everyone has monthly fees of some sort, and if you don’t, then we should be the ones reading your blog. From a mortgage and car insurance to gym memberships and pet health plans, monthly expenses are one of the major factors keeping us from saving money. There are only two ways to get rid of your monthly fees, and only one of those ways will make a substantial impact on your ability to save. By continually and thoroughly evaluating your monthly fees, you will be able to decrease your expenses, allowing you the freedom to utilize your money more effectively.

I first heard of lifestyle inflation in an article at the wonderful personal finance blog, Budgets Are Sexy, and it really got me thinking. Having gotten a raise at each new job I’ve worked at, shouldn’t my rate of saving increased exponentially. If I was as financially savvy back then as I am now, I would venture to say that the answer would be yes. Then why am I not saving as much as I could be? The answer is lifestyle inflation.

Have you ever felt like the money in your bank account was disappearing faster than you could even keep track of? There are plenty of things in life that seem to drain our wallets faster than than we can open them ourselves, but by knowing what some of the major sources are, you can save your self a good chunk of money every month.