*** Create wealth like the “big boys” do – by cutting back…

*** Is your schedule “full-up”? Rein it in and have more cash in your pocket…

*** Reconnect with “simple” pleasures and watch your riches grow… and more...

-----------------------------------------
From the pen of Karin Iten

Dear Investment Academy Reader,

“Mega corporations are doing it. Small businesses are doing it. So maybe, you should be scaling back too”, says leading tip and coupon site The Bargainist.com.

That’s great advice for someone who – like me – is always on the lookout for money saving tips. Coming up with ways to cut costs –without cutting corners – is hard work. Every week, I scour websites, the news – in fact, just about anything – to find inspiration for my next bout of money saving advice.

After last Monday’s article about what NOT to cut back on – and coming across the quote above – I realised I’d found it. That’s why today, I’m giving you my own take on the five ways to scale back like those big companies do and save…

Tip #1: You don’t have to DO it all:
Are you one of those people who spend your days running from one appointment to the other? Does your daily routine consist of Tai Chi classes in the morning, fencing lessons after work and “history of art” seminars at 8pm? If you are – where do you get the energy from?

Seriously though, if your schedule’s chock-a-block full of classes, lessons and seminars, try scaling back – if not for your body’s sake, then do it for your budget’s. Not only will you find you have more money to do the things you REALLY want, but you’ll save on transport, clothing and special equipment costs too.

Tip #2: You don’t have to HAVE it all:
There are so many great books, awesome laptops and hot CDs out there that I’d love to own. But, you know what? You don’t have to have it all! Scale back on your “I want” list and figure out what it really is you’re desperate to have. If you still want the latest CD after that, go ahead and get it – just remember to limit your purchase to “ONE per customer”.

Tip #3: You don’t have to SEE it all:
There’s an age-old saying that goes: “There’s nothing quite like Paris in the spring.” And frankly, after seeing Paris in bloom, I just have to agree! But, this said, Paris will be there next year and the next. Chances are, by then you – and the economy at large – will be in a MUCH better place.

Until then, why not explore our own exquisite country? South Africa has some of the most beautiful scenery in the world. And the best thing is, you don’t need a massive overseas-sized travel allowance to see it.

Tip #4: You don’t have to TRY it all:
Scale back on the number of weekly outings you go on and – hey presto – you’ll soon have a lot more cash on hand. So, whether it’s the latest Stat Trek movie release, a new flavour of chips or simply that new take-away joint on your way home, remember: You don’t have to try it all. You’ll notice a big difference in your cash flow if you stick to this simple truth.

Tip #5: You don’t have to BE it all:
If there ever was a time to learn to enjoy the “simple things in life”, it’s now. Use the global economic situation as an excuse to spend time with family and friends in laid back ways – think picnics or DVD popcorn nights.

That’s not hard is it?

Till next week, here's to your financial freedom…

Karin Iten
For the Investment Academy