Details and overviews are contained in Word documents, but this page gives you an idea of what is contained therein. Use this as if it were a checklist to make sure you are doing each of them. It'll free up 20-40% of your spending for the same lifestyle.
OBJECTIVE: Cut at least 20% of expenditures and put those into long term accounts if needed.
SUB-OBJECTIVE: Use efficient spending to possibly buy other items that contribute more to one's
life and well-being.
PRINCIPLE: Use the 80-20 rule, getting 80% of the benefits for 20% of the effort.
KEY IMPLEMENTATION STRATEGY: Look at the overall checklist before one buys anything major!!
ELEMENTS:
HOW you buy:
Overview on the internet, so have perspective.
Bulk buying
Cheaper sources
WHAT you buy:
Determining, really, what to buy and whether to buy (on overall checklist so you don't need to
remember this step).
Service guarantees - Almost never worth it, put the money into investments
HOME - More efficient use of space, better location, effective storage, Energy savings
AUTO - Lower cost, used, lower insurance, lower maintenance, less worry
FOOD - No empty calories, discount stores
INSURANCE - High deductibles, efficiency, proper usage
Communication services - Efficient phone, cell, internet, tv
Electronics - Computers, MP3 players, TVs (tie in with space reduction)
Luxuries - Forget these and put them into investments
Overall
Jewelry
Vacations - Experiences versus "relaxing" times
WHAT you consume:
Useless no benefit: soda (lose CRV deposit also, alcohol)
Eating out: Don't buy the soft drink!
HOW you pay:
Higher use of your idle money to reduce interest costs, use of home equity lines
Credit cards with high rebates
INVESTING COSTS: No load funds (cheaper compounds better), balanced asset classes, as recommended. Without extra costs, without extra risks and better returns, saving lots of time.
Caveat (this may cost you some money, but the payoff is excellent): Don't short yourself on investing in self development (skills, etc.) and "self-improvement" (self management and effectiveness), as these have gigger payoffs in incme earning abiity, reduction of mistakes in life, and living a more satisfying, happier life!!!!
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