There are many ways to reduce our expenses without adversely affecting our passions and long term goals. It can actually help you get to your goals and passions quicker. Here are three ways of reducing expenses.
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Cutting back- There are some things that I don’t need that can be reduced. I don’t have to eat out as often as I do. I also reduced unnecessary driving. Although I’m losing unwanted weight, I am not buying clothing as often to replace the clothes that no longer fits.
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Eliminating expenses- I’ve eliminated certain things in my life that does not greatly improve my way of life or hinders it. I canceled the cable. Starbuck’s put a bad taste in my mouth over a month ago because they didn’t make the right drink for me again. I’ve saved about $40.00 a day or $480.00 a year.
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Lower cost alternatives- There are lower cost alternatives gives us the same satisfaction or identical performance as more expensive items. Some people are feeding their cars premium fuel when their car can use lower octane fuel without negative harm to their vehicles. I’ve always wanted a Corvette to autocross on weekends but a old Honda Civic gives me the same satisfaction to drive because I’m more focused on my performance than the car’s performance.
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Negotiating a lower price- There are many things we use that can negotiate a lower price. This tactic is very useful if you’re willing to walk away from the product. I found a better interest rate for credit card expenses. The cable company offered to cut their prices in half when I told them I wanted to cancel my service. My friend AD asked to get a lower price for the service and didn’t get it. Instead, AD was settled on eliminating the cable internet and a cheaper package. Be willing to walk away.
There are many ways to reduce expenses so we can achieve our goals sooner and pursue our passions sooner. It will enable us build a strong foundation to build something on. The next step on this phase of our journey will be finding money laying around.