5 Ways to Avoid Wasting Money

Are you tired of living paycheck to paycheck? Do you wish you had more financial freedom?

The good news is, you can achieve it with these 5 tips to avoid wasting money. According to a survey by Bankrate, 21% of Americans waste money on things they don't need. Instead, make a budget and stick to it. Invest in quality items that will last longer rather than buying cheap items that need to be replaced frequently. Avoid impulse purchases and compare prices before making a purchase. Have you discovered Google Lens? You can take a photo of any item and Google will show you all the places you can purchase the item. Lastly, use coupons and discount codes to save even more money.

A friend of mine used to waste money on eating out and buying expensive clothes. One day, she decided to make a change and started budgeting, investing in quality items and using coupons. Over time, she was able to save up enough money to start her own business and quit her day job. She now lives her dream of being her own boss and has financial freedom.

The benefits of saving more are endless. You can take that dream vacation, pay off debt, invest more, or even buy a home faster.

With Currence, we can help you create a spending and savings plan. The proprietary private-labeled account, called the Reservoir, helps you disconnect consumption from income, allowing both income and consumption to take independent paths in the future. The excess dollars will automatically be captured by the Reservoir and easily deployed to additional capital assets that create additional cash flow momentum.

Don't let unconscious consumption hold you back from achieving your financial goals. Start saving today and reach new heights of financial freedom.

How it works:

Outflow

Any form of money permanently leaving the client's world. Outflows are considered funds needed for fixed, variable and discretionary expenses. 

Free Cash Flow

The amount of cash produced during a given period in excess of Outflows. Production of Free Cash Flow is a key indicator of the client's overall financial health. Data showing the history of Free Cash Flow production will give the client confidence in making future-based decisions.

Capital Flow

The act of moving capital from one asset to another. This could be a result of moving capital from the Reservoir to another asset or from another asset to the Reservoir. Capital Flows can be scheduled or a one-time transaction.

Reservoir

A proprietary private-labeled account that is specifically linked to the Currence Platform. This is the repository that resides at the intersection of Inflows, Outflows, and Capital Flows. 

Drip

A scheduled Outflow sent electronically via ACH from the Reservoir to one or more of the client's spending accounts.

Target

An ideal reserve balance to maintain in the Reservoir based on the client's individual situation. This is determined in the early conversations between the Currence Strategist and the client. The Target can be adjusted at any time as the client's financial needs change. 

Surplus

The portion of the Reservoir cash balance in excess of the Target. Surplus funds present an opportunity for discussion with the client about how best to deploy the funds into wealth building accounts that produce additional passive income.

Don't let unconscious consumption hold you back from achieving your financial goals. Start saving today and reach new heights of financial freedom.

Contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. to learn more about creating a current spending and savings plan tailored to your individual needs.

Source: https://www.bankrate.com/banking/savings/emergency-savings-report/