Money Myths: A penny saved is a penny earnt! Money Tips, Tricks & Tactics #25.pdf

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In today’s video we discuss the money myth, A penny saved is a penny earnt! What’s your thoughts? Any ideas? The trouble with this statement is not that it’s not true, it’s the fact that people who cut their expenses more often than not, fail to put away the newly available money they now have, but instead use that new available money on another expense instead, which doesn’t lead to any positive benefits for the finances, after all! So what do you reckon? Share your thoughts and ideas.

Économie & finance

MONEY MYTHS:
A PENNY SAVED IS A
PENNY EARNT
Money Tips,
Tricks &
Tactics #25

TODAY'S
AGENDA
Is it true?
1
The facts
2
The problem
3
What next
4

IS IT TRUE?
Yes, it's true.
For everytime you reduce your expenses
"saving a penny" then you are now better
off, according to how much of a
reduction you were able to make, so long
as this "saved penny" is not spent
elsewhere...

1 in 5 Brits have no savings!
THE FACTS
Did you know?
According to Finder, 1 in 5 Brits (20%) have no
savings at all!
The average savings in 2022 was £7,509
How are people in the UK trying to save money
in 2022?
Turned Lights Off (82%)
Turned Electrical Goods on Standby (70%)
Eaten Out Less Than Usual (64%)
Not got a takeaway (58%)
1
Average Savings £7,509
2
Turned Off Lights (82%)
3

A penny saved is a penny
earnt, but don't mess it up
by spending the penny.

THE PROBLEM
If you save money by reducing your
expenses, but then proceed to spend
that money elsewhere, then you haven't
really gained any financial benefit...

WHAT NEXT
Save the penny, but then put away that
penny somewhere safe...

WHAT NEXT
Reduce your expenses, but then
add the additional money that
you now have available into your
savings immediately
1
Save the penny, but then put away that
penny somewhere safe...

ACTION ITEMS Your action items for today's video are as
follows...
1

ACTION ITEMS Your action items for today's video are as
follows...
1
Cut 1
expense
off your
daily
spend!
ONE

ACTION ITEMS Your action items for today's video are as
follows...
1
ONE TWO
Add the
extra
money to
your
savings
Cut 1
expense
off your
daily
spend!

LIKE,
SUBSCRIBE
& SHARE
Leave a
comment below
& I'll give you my
2 cents...

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