INTRODUCTION
If you’ve ever tried to save more money
chances are you failed a lot but the
truth is it’s not your fault you just
didn’t have the right strategies and
tools so here are 8.5 proven ways to
effortlessly save faster according to
Money Saving Tip 1
science the first strategy is the
pineapple pizza rule the reason many
people have trouble saving money is
because personal finance can get really
confusing like when I first took it
seriously I had no idea what any of this
meant so I came up with the pineapple
pizza rule it’s the principle that
reframes money to make it way more
approachable so whenever I bought
something that wasn’t pineapple pizza I
would just think to myself how many
pineapple pizzas would this cost how
many pineapple pizzas could I buy with
this amount of money for instance if
this Candlestick cost $70 and I know a
small pineapple pizza cost $7 then this
Candlestick costs 10 pineapple pizza
dollars meaning I could either buy this
Candlestick or I can get 10 pineapple
pizzas the simple reframing through the
lens of something that I love helps me
determine whether buying that thing is
worth giving up something I know that I
will love and obviously you don’t need
to use pineapple pizza dollars you can
use anything that you love whether
that’s hot dog dollars or coffee dollars
or Mr magic lamp dollars number two the
Money Saving Tip 2
absolute price rule so when I didn’t
have much money I would always just
default to buying the cheapest things
because I thought that I was saving
money I thought why would I spend $60 on
jeans when I could get one for $125 from
Dollar Tree but the problem I
encountered was everything was just
falling apart in a few months you see
focusing on just the app absolute price
or the outright cost to buy something
didn’t account for the additional cost
and time needed to replace or repair
those things so what I do now is I buy
things based on cost per use for
instance I was obsessed for a period of
time with high quality coffee every day
I would buy myself a iced coffee at a
cafe because I could never make it taste
as good at home so I thought to myself I
could probably save a lot more money if
I can make Cafe quality coffee at home
so let’s say in New York City a nice
coffee outside cost $7 right and I
bought it every day from Monday to
Friday which means I spent about
$1,820 on ice coffee now I could keep
doing that or I could buy a used $500
Rebel espresso machine for home now I
know $500 for a coffee machine is a lot
of money but if I divide 500 by 365 the
number of days that I’d be drinking
coffee and the cost per use for that is
just
$1.36 and if I use the brevel machine
every single day for another year so 2
years the cost for use is now 68 and I’m
okay spending 68 cents every time I make
coffee compared to the $7 outside next
Money Saving Tip 3
the most impactful thing that helped me
save a lot of money was doing this thing
called a savings challenge the harsh
reality is saving money can feel like an
uphill battle because our brains are
wired to resist change and in the book
The Power of Habit it says the best way
to save more is by breaking our existing
spending habit Loop and I easily easily
save so much more money after joining a
saving challenge where I was held
accountable and had an actual savings
road map to follow which is why I’m
hosting the largest free 5-day savings
challenge on October 1st it’s called the
$1,000 savings challenge and it’s
completely free to join with the link
below we had a ton of people in our last
one and we’re expecting thousands in
this one where we can all basically just
learn to save together and hold each
other accountable so whether you’re
saving for a dream vacation a down
payment or house or you just want to
build an emergency fund join the free
$1,000 savings challenge on October 1st
with the link below but space is limited
so if you click on the link and it says
that it’s no longer available then
unfortunately we already reach to
Money Saving Tip 4
capacity number four is a 036 rule which
is something I recommend everyone do
before they start investing or even
paying off debt I’ve been following this
rule since I first started my 9 to-5 job
and you might be familiar with the
regular emergency frund rule that says
you have to save 3 to 6 months of living
expenses now that’s a really good
starting point but we can actually
improve this approach to better fit each
of Our Lives because we’re all in unique
situations not everyone needs to save as
little as 3 months or as much as 6
months of living expenses so here’s how
you can use the 036 rule to determine
how much you should actually save so as
a baseline everyone needs to save 3
months of living expenses to start with
no matter what then here’s where it gets
a bit more customized if you have kids
or any dependence you add anywhere from0
to 3 more months to your emergency fund
number next check out your job and your
industry do you work in Industry where
you can quit today and find a new job
tomorrow or is your industry more
cyclical and companies aren’t really
hiring right now based on this add
anywhere from0 to three more months next
do you have more than one stream of
income and depending on how easy it
would be for you to generate cash in the
future you would again add anywhere from
zero to three more months for instance
in my situation I’d start off with the
3-month Baseline I have no kids or
dependence so I’ll add zero months to
that um I am self-employed meaning that
my income varies from month to month but
I do work in a pretty high demanding
industry which is social media and
content creation and all the skills that
I’ve developed are very transferable so
I’ll just add two months to that next I
do have multiple income streams so I’ll
add zero months for that so in my
scenario I would save 5 months of living
expenses in my emergency fund which is
actually more than I had a few years ago
when I worked on Wall Street back then I
still started at the 3 months Baseline I
had no kids um I was working a stable 9
to-5 job and I had multiple income
streams so I just kept it at 3 months
and didn’t add anything else the more
income sources you have the more demand
your industry has the less money you
need in your emergency fund this next
Money Saving Tip 5
rule is from the book The million next
store by Thomas Stanley like I don’t
want to overstate this but this rule
might have been one of the biggest
motivators for me to save and build
wealth because it identified where I was
categorized on this triangle UAW a aw or
paw and I’ll explain what these
categories mean later on but basically
this triangle tells you how you’re doing
based on your net worth based on your
current age and income and when I
realized I was a aw it really motivated
me to push harder so here’s how the
wealth triangle rule works first you
take your age and you multiply it by
your pre-tax income and then you divide
that total by 10 so let’s say you’re 35
years old and you’re making $150,000 a
year you want to multiply those numbers
together and you get 5.25 million and
then you divide that by 10 and you get
500
25,000 meaning your net worth right now
should be around
$525,000 from here compare to what your
actual net worth is to see where you
belong on this wealth triangle if your
actual net worth is half the expected
level or less so like 260k in this case
you’re considered an under accumulator
of wealth UAW if your net worth is
around the expected level so like
$520,000 you’re an average accumulator
of wealth AAW but if your net worth is
twice the expected level or more at like
1.2 million then you’re a prodigious
accumulator of wealth the point of the
wealth triangle rule isn’t to make you
feel bad if you’re at the bottom or at
the middle of it rather it’s to give you
a Target some Target to strive towards
and depending on where you are either
help you become really excited about
your situation or motivate you to make
some changes but one caveat to this rule
is that it doesn’t work that great for
people under 21 who really haven’t had a
chance to start working and saving money
yet so if you are under 21 just use it
as a motivator for what you should aim
for in the coming years number six the
Money Saving Tip 6
401K Rule and I don’t say this very
often but one thing I absolutely
absolutely believe everyone should do is
if you have access to a 401k is check if
your company offers this thing called an
employer match because if they do you
always always want to contribute enough
money to take advantage of the full
match because your company is effective
ly giving you free money as an incentive
to save for retirement I’ve only had an
employers match when I worked in finance
for a few years and you won’t believe
this but the number of people even in
the finance industry who you think are
supposed to be really financially Savvy
people a lot of people were not taking
advantage of it and it was just wild
because they were literally saying no to
free money in 2023 the average employer
match was between 4 to 6% of your annual
salary so if you’re in 65k a year and
you have a 6% match and you can
contribute $3,900 to your 41k then your
employer will give you another
$3,900 no strings attached bring your
total contribution to
$7,800 plus a study determined that the
value on annualized Return of the tax
Vantage and savings you get from the 41k
is about 73% meaning tucking your money
away in your 41k increases your returns
by about 73% every year and I know it
doesn’t seem like a big number but if
you have hundreds of thousands of
dollarss in your 401k spread out across
several decades along with the tax
savings from reducing your taxable
income this is going to amount to a
CONCLUSION
pretty penny next is the 2410 rule which
is the antidote for America’s number one
wealth killer in 2022 AAA found that the
average cost to own a car was $894,000
to determine how much car you can
actually afford without destroying your
wealth first the 20 is your down payment
you should at least be able to put down
20% of the price of the car from the
very beginning some lenders will allow
you to put even less down but to that
you got to say no sir because the
lenders are just going to charge you a
higher monthly payment to make up for
the lower down payment but this is a
pretty bad idea in the long run because
it’s going to be a lot more money
generally the more you can put down from
the start the better next four is the
four-year limit don’t agree to financing
terms longer than 4 years because the
longer you let the loan run on the more
you’ll end up paying in interest and
often times Shady lenders may include a
clause or condition where it says
interest rates can actually increase
after the fifth year next aim to spend
10% or less of your gross monthly income
on car expenses things like loan
payments insurance and maintenance and
if you can’t follow the 2410 rule
there’s a good chance that that Lambo
might not be for you next Warren Buffett.