Plutus is the god of wealth, according to ancient Greek mythology.
He confers unspeakable gifts upon his devotees, and carries around the cornucopia, the horn of plenty. It’s easy to earn Plutus’s favor. You just have to learn to spend wisely, so you always have a surplus to dedicate towards honorable ventures.
Here are several good spending habits that you can adapt to get the blessings of the god of wealth:
Shop with a List
Stop going to the grocery store two or three times a week to buy something you have just remembered. Instead, make a list of everything you need each month or each two weeks, and shop only with this list. The problem with shopping impulsively is that you put yourself at risk for overspending. A simple grocery run for milk and eggs can easily turn into a full shopping spree. Therefore, plan your shopping trips to avoid wasting money, time and gas.
Pay off Necessary Expenses First
Each month, your first expenses after receiving the paycheck should be the utility bills, mortgage, medical bills and all other necessary and fixed charges. Do not go shopping before the essential expenses are covered. Your budget for the month is whatever you have left after covering the basic necessities.
Save Before Spending
Once the fixed bills for the month are off your back, you should save at least one-third of the remaining funds. Of course, this amount can vary depending on your income and needs. You must set aside a certain amount for emergencies, and after that save to safeguard long-term interests such as retirement. Seriously consider saving a significant amount so you can start earning a secondary income by investing.
Consider Purchases Investments
It may be confusing at first to consider a certain expense as an investment. Think about it this way: you are a freelance online graphics designer. If you spend a hundred dollars each month for an internet connection, it is an expense that can be considered an investment in your freelance career. Without that investment, you have no job. Likewise, evaluate purchases in terms of investing in self. For example, you really want to buy a summer cottage that is quite beyond your means right now. If you wait, the price will inflate. However, if you buy it now, even with a loan, can you turn that expense into a lucrative income by renting this summer cottage? If so, it’s a worthwhile purchase.
Spend According to a Budget
As mentioned above, it’s very important to plan purchases. To protect yourself of compulsive or unnecessary spending, create a monthly budget. Record your income versus expenses, and you will be able to swiftly spot your excessive expenses. For example, you could be overspending eating out each week. Once you spot such bad spending habits, immediately take steps to fix them and save money.
The secret to gaining the favor of Plutus is not to spend as you wish until you are neck-deep in debt. Financial success comes to those who spend wisely, and save for emergencies, investments and retirement. Those are the ones who are blessed by the god of wealth.
What are you doing to get in the good graces of Plutus?
