Saving money

For many Americans, reaching their financial goals seems like a near impossible task. 

If you are looking to retire younger or are seeking a fresh approach to achieving financial freedom, you may need to change your attitude towards money and make changes in how you spend, save and invest.

“So many of us are on a hamster wheel of earn and spend that doesn’t allow for growth,” says entrepreneur Jack Bosch, author of “Forever Cash: Break the Earn-Spend Cycle, Take Charge of Your Life; Build Everlasting Wealth.”  “Regardless of how much you earn, if you spend all of it, you are no better off than you were if you never had made that money at all.”

Bosch offers some tips to help make and save money:

Spend on Investments

After necessary expenses, spend your money on things that will make money.

A typical pile of savings can disappear in a market crash. Look for investments that produce a stream of revenue, such as a business, rental property or intellectual properties, so that the income from these investments helps pay for your regular expenses.

Break the Spend Cycle

Break the cycle of earning to spend. The truly wealthy use their investments to pay for their lifestyle, not their active income.

Think about how much money you would need to pull in each to live the way you want. Then consider how you can use the money that you currently make, whether from a job or other income sources, to connect it into additional cash-flow streams.

Avoid Destructive Patterns

Many people don’t think about what spending money now means for the future. Just because you are bringing in a certain amount of money doesn’t mean you need to spend it.

“A new luxury car today could mean the difference between having a quarter-million dollars or even half-million dollars in the bank 30 years from now,” says Bosch. “Most people would think twice about buying that item if they knew the future ramifications.”

Don’t Restrict Too Much

There is still room in a budget for things you enjoy. If you really like to buy a cup of coffee every morning, don’t stop. Cutting out everything you enjoy from your budget is usually not sustainable.

The best way to save is to sensibly cut back on the things that don’t make a huge difference in your life and then use that excess money to invest in something that brings in more cash and ideally cash flow. Do that again and again, and the cash flow from your investments can quickly make a substantial difference in your life, even potentially allowing you to retire earlier than you thought possible.

For more tips on breaking the spend cycle and building wealth, visit

The first step to saving more money is to change your attitude.  Making smart choices today will pay off tomorrow.

(1) comment


The focus should be on earning more and not on cutting down our spending.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.