Another way to “no” your way to a million dollars

by Nick on December 28, 2011

Six weeks ago I encouraged everyone to get used to saying “no” to get ahead with their money.  Have you started your “no” account yet?  If so, how much is in yours?  If not, what the heck are you waiting for?  I’m planning on keeping track of my “no” savings in 2012, not as a “goal” but just to see what I can “get” by saying no.  Between that and my money leaks, three of which I discussed earlier this month, I’m guessing I can max out my IRA for at least me and maybe my wife for 2012.  That’s the “hypothesis.”  We’ll see how it works out in practice.  I’ll update you as I go.

So when I saw an article on Kiplinger about saying no to extras to save money, I figured I just had to mention it to you.  It’s just another example of how flexible and powerful “no” can be.  Simply put, Kiplinger suggests sticking with the basics and saying “no” to the add-ons can get you pretty much everything you want and need and save you a ton of cash.  Two examples they give are hotels and car washes.  Getting just the room but not paying for the fancy food, valet parking or minibar is the way to go.  (There are, of course, a number of other, cheaper alternatives to hotels, too, so the “basics” could also include suitable substitutes like hostels or vacation condos for rent, depending on your “level of fanciness…”). 

For car washes, just getting the basic wash and skipping the clear coats and tire polishes are suggested as the way to go.  Get the point?  Skip the “go mega large” on your next fast food venture and the apps and pie at your next dinner out.  Skip the heated seats on your next car purchase.  And remember, the “bottom of the line” new model is probably much better than the old one (whatever it is) of what you have now and more than what you “need.”  So don’t get talked into the “top of the line model” if you don’t “need” it now. 

There you go.  Now you have a number levels of “no” to use that little word to your advantage to save a bunch of cash for “old you.”  You can completely say “no” a purchase you don’t need.  You can just say “no” to the extras, like Kiplinger suggests, which can come in handy at dinner this weekend.  And you can say “no” to your money leaks.
Don’t take “no” lightly.  I bet you have enough “no” in you to make significant change in the next 12 months.  What about you?  Believe me yet?

Until next time, put your credit card down and slowly step away from the mall!

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