Financial Habits You Need To Get Rich (Part 2)

Part 2 of this series will cover four big things to decrease your spending and hopefully make you realise that the things that you do now, you totally take for granted and honestly, don’t need as often as you may think.

Live Below Your Means
Okay, so what does this actually mean?

Living below your means is a typical thing that you may already be doing without realising.
It simply means that even though you have enough money at the time to afford a $35 steak for dinner, you opt for the $23 one instead, because you know you will still enjoy it without the hefty price tag.

It means that you don’t go out and buy a boat, or book a holiday, or shop for a new outfit every weekend. Even though you know you can afford things, doesn’t mean that you should have them.

Think of it this way, if I spent $70 on a new outfit every month, within a month I could have saved that $280 to put towards something much more rewarding, such as an asset (e.g. a trailer to hire out, bitcoin/virtual money, stocks etc.)

Don’t Waste Money On Unnecessary Things
It’s just a fact that the most common unnecessary purchases are clothes, food and drinks.

If you’re out and you have to buy take-away then so be it, but there are the possibilities to eat before you go, take your own, or find a supermarket close by where things are much cheaper.

Certain consumables such as iced coffees, soft drinks and chocolate bars are also a bank-killer, and even though they’re regularly on sale and they provide people with a quick pick-me-up, they’re unnecessary and an apple would do the same job for much cheaper.

Op Shops are also great to save on clothes, there are some people that are willing to give away just about anything, and you can find some real winners in second hand clothes!

Live In A Cheap House
This may seem like a huge no-no to you, but if your rent is $150+ per week, you should be searching for somewhere cheaper.

Even though you don’t want to be living in a run-down shack, we’re sure that a few extra cockroaches won’t harm you, there are plenty of cheap solutions to that.

As long as you’ve got a roof over your head and the facilities to live comfortably, the low price tag should be a blessing in disguise. The amount of money you can save over a few years may even be enough to put down a deposit on your own house.

Don’t Finance A New Car.
This is one of the biggest mistakes that anyone can make. Buying a brand new car from the dealership is a huge waste of money.

Why not?
We don’t want you wasting your money, that’s why! By the time that you drive out of the dealership, your vehicle automatically loses 10% of its value ($50,000 car is now worth $40,000).

Not only this, but after just its first year out of the factory, it has already lost around 20% of its value, and will continue to fall annually.

On top of this value loss, you also have to pay insurance on the vehicle, which is generally about 10%+ of its value, which ends up costing you more than what the vehicle is worth.


Financial Habits You Need To Get Rich (Part 1)

There are so many things that you can do to create yourself a healthy bank account, but have you ever thought about how you can make yourself rich?

It’s not as easy as it seems, there is always hard work to be done, but if you want it, you’ll work for it.

There will be a few (10 to be exact) topics that we’re going to touch on through this series, hopefully it helps!

Create A Budget And Stick To It.
This may seem simple and relatively straight forward, but how many times have you gone to the supermarket and bought way more than what you originally went for, or you saw a cute dress so you told yourself you needed it, without having a solid reason?

This does so much damage to your savings to say the least.

By creating a budget, you’re allowing yourself to indulge in a few luxuries, but when the time is right… and when the time is right, we mean after the bills are paid, and your grocery shopping is done etc.

It’s super important to have a reasoning behind each of your purchases, whether it be as big as a car, or as small as a new pair of undies. You must ask yourself every time ‘why am I buying this?’ and give yourself a logical answer, not just ‘because I deserve it’ or ‘because there’s a sale on’.

Upon giving that answer determines how badly you need the item, which should either increase or reduce the want for the item.

Build an Emergency Fund.
And don’t touch it unless it really is an emergency!

By doing this, you’re preparing yourself for the unknown… some examples are along the lines of having to book an emergency flight or trip home, paying for an accident, or you know, unexpectedly losing your job.

An emergency fund isn’t for the small things like groceries or an outfit for a wedding you’ve known about for 12 months, it’s there for when times get really tough.

The best way to go about this is to set up an account and have a designated amount (maybe $50) automatically transferred into that account every fortnight.
After a while you may find that you forget about the account all together!

Increase your income
How you ask?

Well, it may be as simple as getting another little side job, whether that be bartending or Uber driving after hours, or you could venture out into the cyber world and create some online hustles that may not require as much work.

Things like that include starting a blog or a vlog, writing an eBook and selling it, peer-to-peer learning (writing a course to sell etc.) and the list goes on, there are a whole range of ways to make more money on our site such as the Making More Money Part Series, and the Passive Income Part Series.

Skills You Need To Succeed.

okay, so here’s a real quick one to get you on track to success. We’re going to be focussing on four small, easy skills that you need up work on and master in order to increase your overall success. There are so many things that professional’s say that you need to do, but through our research, we’ve come up with four vital points that we frequently came across.

1. Be Positive.
In your little world, are you prone to being positive or negative? It’s important that you focus on the positives that are around you… let’s put it this way: are you a ‘glass-half-empty’, or ‘glass-half-full’ type of person? You’ve got to begin to see the glass half full and see the positive side of any situation. In saying this, you’re allowed to acknowledge the negatives, but don’t dwell on them, make them work for you, learn from them, grow from them.

Tip: ‘Failure is just success in disguise’ is such a great little quote to stick in the back of your mind, because it reminds you that even though there was a negative outcome, you’re going to grow from it, get up and try again, and next time you’ll do better to succeed, which is the positive attitude that you have to have to be a success.

2. Listen to Others
It’s easy to look someone dead in the eye and not hear a word they say, isn’t it? You’ve got to get out of that habit, start learning from people, listen to podcasts, YouTube videos… ask questions! If you’re just starting out, of you’ve been in your position for a while now, it’s super important to listen to those around you, in the same niche as you, in different niches… You will never stop learning, and the best way to do that is to take notes from your peers – see what’s happening in their world,
what’s working for them and modify those outcomes to set yourself goals to work towards.

3. Practice More Than You Preach
If you’re singing to the choir about getting their 8 glasses of water in a day, as well as eating a healthy diet, exercising and maximising their work-ethic and all you’re doing is sitting behind a computer screen eating some potato chips and drinking Coca-Cola then you’re really not all that inspiring. Same goes for any business/employer/employee in and field… How many times have you
had a colleague try to tell you how to do your job when they’re the worst employee on the staff list? Don’t be that person. But do listen to that colleague, they’re telling you how to do it wrong – therefore you know how to avoid getting the sack.
Be humble in your success – if people ask you about how you came about to do what you do, tell them the bad before the good, tell them that it was a lot of hard work, heartbreak and rebuilding before you got to where you are, but you’re grateful every day for those hardships.

4. Communicate Effectively
No one likes a bad communicator, let’s just put it right out there. If you can’t communicate effectively and efficiently, not only will you struggle to get your point across, and as a result, won’t be as successful. If this is something that you know that you struggle with then you need to focus super hard on it. Bad speller? Bad grammar and punctuation? Teach yourself how to do both of these. It’s simple enough, there are heaps of Apps that can help you, as well as a site called Grammarly – it is
absolutely fantastic for the two above issues – in which it edits your work better than what and Word document can, and gives you the best explanation about why it wants to change your work. Also, don’t forget to be an open communicator – make yourself available to be spoken to; create a good vibe and atmosphere so that people don’t feel intimidated to speak to you

Overall, it’s important to check in on your success and come back to these points to compare notes and modify your behaviour. Keep it up a novice, you’ll be there in no time!!

Should You Join Membership Groups?

We at Investercon really, truly believe that you can never have too many membership cards! Although, yes, they’re bulky and you never have enough card slots for all of them, but there’s way around that! All you have to do is invest in a cardholder (eBay have some cool ones) to keep in your car or handbag, and every time you go into each shop you have a membership to, whip out the card and pop it in your wallet and once you’re done, pop it back in its spot in the holder!


Membership cards are the key to saving at your favorite, most frequently visited stores – given that they have one – and have proven to us that it really is worth having that extra piece of plastic in your pocket! Not only do you save your precious coin, but you’re on the email distribution list to be the first informed of the exclusive sales that the company is going to have, as well as offers that only members receive and competition options to win great prizes.
For example, recently I realized that I needed to update some of our gear to go camping and Anaconda had the best quality and prices, so I signed up to become an ‘Adventure Club Member’ and my gosh, I almost fall off my chair when I saw how much of a discount I would receive just for being a member! If I had of chosen the seat that I really wanted (that was $209.99), I could have got it for $119.00, and I scored an air pump for $15 down from $25! Being a member of things rocks! However, on the alternate, what about that gym membership you told yourself you’d use more often… for the last three years? Or that magazine subscription, the monthly ‘surprise box’ a subscription that you treated yourself to ages ago and just didn’t discontinue it… even your Lite‘n’Easy subscription you started, surely you can make all those meals by now, and you could
most likely do it a lot cheaper than what you’re currently paying.

So, in a way, memberships are great if they’re not costing you anything… But you have to be harsh on yourself when it comes to your weekly/monthly/yearly subscription(s). Do you really need it, are you using it as much as you could be, are you really benefitting from it, or are you just getting it because you can, because you’re too lazy to cancel it?

How Students Save Money

Most of us have been to school, we all understand that being a student it can be hard to save money. Follow this post to understand how students can save more money.

Putting away $2 a day can create so many pathways throughout your future…
Worried about your retirement? Start putting $2 away every day.
Worried about a mortgage? Start putting $2 away every day.
Want to be able to take you and your partner, or your family away on a nice holiday? Want to buy a new laptop? Just want to save your pocket money? Put $2 away

It may surprise you how much difference a small gold coin can make to your future. There are so many success stories that come through the news, while you’re scrolling Facebook, checking your Instagram newsfeed, and yes, they all had their own way of creating their fortune, whether it be a following that turned into a global movement, a single act that turned to something much, much bigger than even they anticipated, or they just pursued their dream as hard as they could. Every single one of us can be one of those success stories, you just have to find yourself, and what you want to do.
For most, money is what we want, right? Well, here’s a way that you can have money, whether you’re a scrooge or a big-time spender, there’s always something that you can put away to make your future that little bit more secure.
Look at it this way: if you start putting away $2 a day when you’re 20, that will equate to $14 a week, $28 a fortnight, $70 a month, $840 a year, and $4,200 over 5 years… That’s a nifty little sum to be sitting on by the time you’re 25, just for putting $2 into a jar every day.
How do I make myself put away money?
One of the hardest things about saving money is getting started. There are so many questions, if’sand but’s around how you can afford to save money in this day and age, but there are also some simple answers…
Buy un-openable money tins:
These are absolutely brilliant, especially the huge ones! You can’t have any weak moments, and more importantly, you won’t have any grimy little fingers sneaking cash! Scatter them over the house. One in the bedroom, the kitchen, the living room, the laundry (that’s where most of the
change ends up, right?!), don’t forget the car either!
Make it a family thing:
Additionally to the ones scattered over the house, buy a tin for each family member, write their name on it, colour code it, whatever works for you and put them in a central spot so you can monitor them. Express the importance of saving from a young age, and implement chores at home so that they have an incentive to work towards – they know they’ll get paid – but make sure they put part of it away.
Specifically give their pocket money to your kids in coins if you can, so that they have to decide what they’re going to do with it. It will surprise you how they think, and budget in their heads without even knowing it, and they might shock you when they’re a millionaire by the time they’re 35… All thanks to you!
Don’t have $2 on you?
Surely you have some form of cash on you, $0.50, $1.40, $5 note, $10 note? Whatever you have, put it into the tin. It’s better to put something in there than nothing. It’s all about that habit that you have to get yourself into for it to become a daily thing. It’s important to put something in that tin. Over time it will all even out, if you put 50 cents in there one day, maybe you’ll have $2.50 on you the next day and $1.50 the next, chuck it in and you’ve got yourself $5.50 in three days. It’s all about
routine and persistence. You’ll thank yourself later.

From putting away $2 away a day can also be drastically increased by compound interest. Don’t
know what that is? Check out the link below to read all about it

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