Utilize these 6 tips to save more money and become a money-saving expert in the long term. You can even help people along the way with your experience.
Finding ways to save money by cutting costs are always important. Some people have turned this expertise into a way to make money while offering advice.
When cash is in short supply, almost everyone wants to become a money-saving expert.
They want to know how to make their income or savings stretch as far as possible, how to cut costs, and get the best value for money.
Becoming an expert in saving money and getting the best deals requires time and effort.
However, it can be a worthwhile investment as experts can become sought after by others who want to benefit from their knowledge, and it can become a source of income in its own right.
A great example of this is Martin Lewis of Money Saving Expert, a huge resource about how to save money and get the best deals, aimed at people in the UK.
Martin Lewis states openly that the site provides him with a good income while also helping many people cut their cost of living.
The website was acquired in 2012 for a sizable figure and he is currently an Executive Chairman with the group.
Becoming a Money-Saving Expert Requires Research and Focus
1. Carry Out the Important Research
Spend Time on websites that advise on how to save money.
Experts know a lot about their subject, so to become one on saving money, the first thing to do is look at what other specialists have to offer and how they do it.
2. Focus On a Particular Money-saving Subject
There are so many ways in which to save money that it is impossible to become an expert in everything.
Choose a specific subject, such as how to save on grocery shopping, home improvement products, travel, or eating out.
Alternatively, focus on finding savings for a particular group of people or industry.
It could be ways for parents to save when spending on their children or how seniors can reduce their costs.
Once a good level of knowledge has been built up in one subject, another one can be added.
3. Talk to People About Money-saving Tips
Successful business people know that networking is important for success, and all this really means is talking to other people.
Being open about an interest in a particular subject and sharing ideas can lead to unexpected and valuable discoveries of new resources or opportunities.
Networking is also a great way for someone to promote themselves as an expert in saving money.
They do not proclaim themselves to be an expert, but by demonstrating their knowledge and interest in conversations, they will soon establish a reputation for themselves.
4. Invest in the Right Books
Financial education is not complete without reading the best books on personal finance.
Some of the very best personal finance books I’ve ever read includes:-
- The Richest Man in Babylon by George Classon
- The Total Money Makeover by Dave Ramsey
- The Automatic Millionaire by David Bach
- Your Money or Your Life by Vicki Robin
- The Little Book of Common Sense Investing by John C. Bogle
- The Bogleheads’ Guide to Investing, by Mel Lindauer, Taylor Larimore, and Michael LeBoeuf
You can buy these books in paperback, Kindle, or Audible if you have a subscription.
If not, you can try Audible free for 30 days HERE. You get to keep 2 books if you cancel before your free membership expires.
More Tips on How to Become an Expert on Saving Money
5. Visit the Local Waste Disposal or Recycling Center
People throw away a lot of stuff that they do not want, but other people can still use, such as old furniture or sports equipment.
Some waste disposal centers proactively sort through the rubbish to extract items for resale.
Someone visiting the center can see for themselves the approach that is being taken, the type of items being recovered, and how local people can take advantage of this facility to save money.
6. Scan Local Newspapers for Special Offers
Many local businesses boost their trade by offering special deals from time to time.
This can be through coupons to cut out, short-term sales, or other, more innovative approaches.
Not everyone uses the internet regularly, and many smaller retailers and restaurants still reach out to people through newspapers.
7. Find a Way to Publish Money-saving Advice
Once someone has accumulated a lot of information about how to save money, they can acquire more by actively sharing what they know.
You can start a money-saving blog and send out regular updates to your subscribers.
You can also create a social media following who want to keep informed of offers and ideas, and businesses will start to supply the publisher with information directly.
Creating a reputation as an expert on how to save money takes time and commitment.
The result could be a raised profile and potential income opportunities linked to saving and advertising.
Being a money saver may lead to being an alternative stream of income.
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