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

Why are you saving money? Is it so that you can have a fat wallet, nice clothes, and a house full of toys, or is it so that you can get rid of all your responsibilities and spend your time however you want to without worrying about any repercussions?

I wanted to take a minute (see I am using my time wisely) and really think about what our goals should be as we learn to make and save money.

Why are you so afraid of your own success? Do you even realize that fear is what is keeping you from reaching your goals? The number one reason that most people fail to meet their economic expectations is fear. You must learn how to overcome this fear if you ever want to move beyond your current fiscal situation.

As a follow up to Wednesday’s article on our current exploration of renting out our house, I felt like now would be a good time to discuss the greater purpose of saving money.

A couple of days ago I went into some detail as to what we are planning to do with the money we will save. Today I want to try to explain it in a way to will serve as a long term inspiration to anyone, no matter what financial situation you might be in.

A few articles back, I posted my first money saving idea, which was to use cash for groceries in order to track our expenses better. This week I wanted to talk about something that has been in the works for the past month that will finally come to fruition about a week from now.

We have rented out our house and are downsizing to an apartment! Before any congratulations or bashing begins, read the rest of the article to see our reasoning behind the move.

I’ll give you my answer right now, yes. Back in the old days, before Al Gore invented the Internet, people balanced their bank accounts using a pen and paper. This is not how it is done today.

More and more, people are relying on services like Mint.com to keep their finances in check, and it is only going to continue in this direction. By not cashing checks immediately, you are basically giving people the idea that they have more money than they do, and while I realize you are not responsible for their finances, there are other negative consequences as well.

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.

I hear them all the time. People ask me for advice on how to make or save more money, and when I tell them exactly how to do it, I’m told it’s impossible for one reason for another. To be honest, I used to be the same way, until I realized that I was justifying my actions because I didn’t want to change the way I lived.

So far, many of the articles on The Best Money Blog have covered different ways of saving money as well as adopting a proper attitude towards saving money and managing your personal finances, without really venturing into the realm of earning money. Today I want to go over three different types of income (active, passive, and semi-passive), how they all work, and how you can utilize each type to continually increase your net worth.

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?

Acting rich is a good thing. Acting how you think rich people act is a bad thing. One of the most common misconceptions about rich folks is that they spend their money frivolously because they are so wealthy that they don’t have to worry about it. While it is true that some wealthy people, professional athletes in particular, live an over-extravagant lifestyle, the majority of rich people got to where they are by living below their means and persistently investing money. Once you learn to act rich, you will hear the phrase, “You spend money like a millionaire”, and take it as a compliment.