Beat the recession – Cut your expenses

Posted on 06. Feb, 2009 by Mike in Action Items

Whether you’ve been laid of yet or not, one of the first things that needs to be done to “recession proof” yourself and your family is to take a good look at where your money goes every month.

If the man should decide to cut your job, it will be reassuring to know that you are living as simply and cost effectively as you can be.

Some of you might whine and bitch and say goofy things like “but I NEED that $8 triple mocha, latte, with whip cream and a little chocolate shaving on top”. Get a grip man! That’s a load of crap and you know it!

Some people who know me would call me “cheap”. Others wouldn’t be so harsh and might use a term like “thrifty”. The even nicer ones may go a step further and say that I’m “smart with my money”. I like the last one best myself. Be smart with your money.

I mean sure, you can live for the moment cause you might be dead tomorrow right? Why not just spend it all since you can’t take it with you? Sounds great but let’s face it…if you want to feel the weight off your shoulders down the road and would like to have the feeling of inner peace when you’re able to live your life without worrying about money, it might be a good idea to scrimp and save now so we can go hog wild tomorrow right?

So many ways to cut your expenses….here are a few to get you started…

- eat out less or not at all
- stop smoking
- drop extra TV channels and go “basic”
- Reassess telephone plan
- Reassess internet service plan
- Park one vehicle and switch insurance to “fire and theft” only
- only buy what you ABSOLUTELY Need to buy
- Hold investments (last resort)

There are MANY more to follow…..