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But some of the bestways to save moneyhave been tried and tested over centuries.
You might call these old-fashioned, but we prefer to look at them as proven and simple.
Track Your Expenses
Youve probably heard the business adage, You cant improve what you dont measure.
Use the Envelope Budgeting Method
Popularized by Dave Ramsey, the envelope budgeting method simplifies your discretionary spending.
These can include groceries, dining out, clothing, entertainment and household needs.
By understanding the power of compounding, you could make your money work for you.
The concept also works when you think about spending money.
Youll stop and think, Do I really need that coffee?
One of the key tenets to building wealth, according to the book, is to Pay yourself first.
On the other side of that scale, you have precious metals.
Final Note
The economy has changed, but the basic tenets of personal finance remain intact.
These old-fashioned methods of saving money and preserving wealth work just as well as they did centuries ago.
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