In our difficult economic climate today, many people are concerned about their wealth. Specifically, they are worried about how much money they have now, and if they’ll have enough money when they reach retirement. Some people are struggling to the extent that they are living paycheck to paycheck.
Some people don’t even have a full-time job, either being unemployed or underemployed to where they have to take a position that may have nothing to do with their skill and/or education level and/or a position where they are actually qualified to do much more, but with no such position available.
One way that you can boost your own wealth is by altering your habits. We will look at two common habits many people have below and how altering them can boost your wealth.
One common habit that many people do that drains their wealth is running water when it’s not necessary. For example, when many people are brushing their teeth, they’ll run the water throughout the whole procedure of brushing their teeth.
In truth, this is not necessary, as virtually everyone is not using water the whole time while they are brushing their teeth. The same also holds true for many guys who shave; they will also often run the faucet the entire time while they are shaving when it is not necessary to shave well.
Not only are you causing your utility bill to rise and your wealth to fall, but you are also not being environmentally responsible, as we only have a limited amount of water on Earth- it is not unlimited, and some places on the planet have very limited access to it.
When many people do grocery shopping, they are often under the impression that they must buy name-brand (or national brand) products that cost higher than the same products that only have a private label or generic name on them because those name-brand products are better.
Studies have shown that in most cases, the private label or generic name product is as good or even better than the name-brand or national brand product. Yet, some people are convinced that the name-brand or national brand product must be superior because it has such a name, it’s advertised more often on television, radio, online, etc., and it’s in more colourful or elaborate packaging, etc.
If you overcome this habit of thinking that name-brand products must be better, you can save yourself more money and boost your wealth by getting quality products that are as good or better for less.